It’s no secret that Canadian shoppers prefer to pay with plastic. And this isn’t exactly new information. In fact, back in 2006, the official Interac website revealed that Canada had set a new record of 31.2 million transactions being processed on the two busiest shopping days of the year. That would be December 22 and December 23. That’s almost the entire population of Canada making an Interac purchase each!
At the time, the new record represented the largest two-day total in Interac Association history. As a matter of fact, the record smashed the one set the year previous by a million transactions! Can you imagine what the Interac sales total will be throughout Canada this upcoming holiday season? If there was ever a time to begin accepting Interac payments at your place of business, it’s now.
“I\’d say half of my customers use their debit cards to pay,” admitted one of our clients early this week, “Debit is easy. People know that the money comes right of out their accounts. They don’t have to worry about exact change. They don’t have to worry about paying a bill later. People find Interac the most convenient way to pay.”
Tina Romana of Interac Association is sure to agree. Back when the new transaction record was set, she commented on debit cards being the “favourite way to pay” for Canadian shoppers. “Canadians love using their debit cards,” she said. Another thing that makes Interac such a favoured way to pay for purchases in Canada is that they are reliable and safe.
Founded in 1984, Interac Assocation made it a point to create a payment method that Canadians could trust. They developed a national network for two shared electronic financial services, which their website describes as “Interac Direct Payment, Canada\’s national debit card service and Interac Shared Cash Dispensing service for cash withdrawals at Automated Banking Machines.”
So whether consumers are looking to pay with their cards, or retrieve cash from their bank accounts, Interac has made the process a quick and easy one. Interac’s website confirms that half of the nation prefers using their debit cards when shopping. In 2005, there were more than 35 millions debit cards in circulation. That means there were more cards than there were citizens of Canada!
During the same year, over three billion Interac transactions were made. Just imagine the number of sales businesses lost out on by not accepting debit cards. It’s enough to put them out of business! In 2013 – soon to be 2014 – there’s no excuse for a Canadian business owner to not have a POS terminal that will accept Interac cards. Especially since getting one is so easy.
Canadian POS Corporation provides top-notch POS terminals as well as incomparable customer service. We make your company’s transition from cash-only to plastic-friendly a very quick and easy one as well. Simply give us a call at 1-877-748-2884 so you can begin to accept Interac cards in as quickly as three days. Canadians love using debit cards. Let them love using them with you!