Interac e-Transfer, a funds transfer service operated by Interac Association and Acxsys Corporation, has partnered with nanopay Corporation to enable its users to digitally transfer money to any bank account across the world instantly.

Under the agreement, nanopay’s technology will be integrated with Interac’s payments system.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

The real-time payment platform, which provides instant settlement across a variety of currencies, will start the service with India.

Interac e-Transfer’s user experience will be used by the jointly developed service to transfer fund from a Canadian account to an eligible Indian bank account.

Through the service, senders will identify a personal email address or mobile phone number through a participating financial institution’s online or mobile banking application. An instant notification will be sent to the recipient.

To ensure regulatory and compliance requirements are met, additional information about the beneficiary of the funds will be needed as compared to Interac e-Transfer.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Commenting on the agreement, Interac vice president of product and platform development Debbie Gamble said: “Bringing another real-time digital payment option to Canadians to send money to relatives, friends or businesses around the world is very exciting.

“Taking a made-in-Canada, ubiquitous and scalable platform like Interac e-Transfer and integrating it with a savvy fintech force like nanopay will open up more access points, choice, convenience and control for Canadians to move their money.”