Canada · Account Transfer · Est. 2002
Canada's dominant person-to-person and business payment system, used by virtually every Canadian with a bank account. Interac e-Transfer enables instant transfers via email address or phone number across all major Canadian banks and credit unions. Originally a next-day service, it was upgraded to real-time settlement in 2022. Interac processes over 1B transactions per year with CAD 900B+ in value, making it one of the world's highest per-capita instant payment systems. Operated by Interac Corp (jointly owned by Canadian financial institutions), it also supports Interac Debit for point-of-sale and Request Money for invoicing.
Interac e-Transfer is Canada’s real-time payment system (Account Transfer), launched in 2002. Canadas dominant person-to-person and business payment system, used by virtually every Canadian with a bank account.
Interac e-Transfer processed 1.4 billion transactions worth $765.9bn in 2025, a year-on-year change of +15.0%.
Interac e-Transfer is operated by Interac Corp, with instant settlement.
Interac e-Transfer launched in 2002, and today has 300 participating institutions.
Interac e-Transfer supports proxy/alias lookup, request-to-pay.
Data source: Interac Corp.
| Capability | Status |
|---|---|
| QR Code Payments | — |
| Wallet Support | — |
| 24/7 Availability | ✓ |
| Cross-Border | — |
| ISO 20022 | — |
| Request to Pay | ✓ |
| Open API | ◐ |
| Alias/Proxy | ✓ |