TORONTO—Seven Canadian credit unions have become the first in the country to launch Interac Debit on Google Pay.
Members of these credit unions can now make purchases directly from their checking or savings accounts at retailers displaying the Interac Flash logo, or within apps of participating merchants with eligible Android devices.
The seven CUs are Access CU, Affinity CU, Assiniboine CU, Innovation CU, Prospera CU, Servus CU and Steinbach CU.
The Canadian credit union sector is continually working together and with partners to offer payment options that members want,” said Martha Durdin, president and CEO of the Canadian Credit Union Association. “Whether it’s for the member who is driven by convenience, or is a tech enthusiast, Google Pay is a mobile payment option that allows all members to pay with the speed and security that they expect.”
According to the CCUA, the Google Pay integration is a collaborative development involving some of Canada’s largest credit unions. CCUA partnered with Interac Corp. and Everlink Payment Services to extend support for Interac Debit on Google Pay. It provides consumers with a seamless mobile payment option designed for speed and security
The Benefits
The benefits of the new solution, the CCUA said, include:
- Ability to check out faster in-stores with a device that’s already in member’s hand.
- Pay in-apps and on the web as quick as the member can click.
- Google Pay doesn’t share the actual card number, so information stays secure.
In early December, Cambrian Credit Union (MB) will join the list of credit unions offering Google Pay to their members, followed by a wave of additional credit unions in 2020, the CCUA said.