May 24th, 2024

Interac acquires rights to Vouchr platform, enabling multimedia in e-transfers

By The Canadian Press on April 16, 2024.

TORONTO – Interac Corp. says it is acquiring the exclusive Canadian rights to use Toronto-based Vouchr Ltd.’s platform, which will allow personalized multimedia messages to be sent alongside money transfers.

The national debit network says that once integrated, its e-transfer service will offer customizable notifications that Canadians can use when e-gifting.

Another feature will allow Canadian businesses to send company-branded e-transfers to employees, customers and suppliers.

Anurag Kar, head of product for Interac e-Transfer, says examples of customization when sending money could include e-cards, videos and GIFs embedded within the transfer.

Financial terms of the agreement were not immediately available.

Interac says the transaction is part of its strategy to invest in the Canadian fintech ecosystem after also acquiring Ottawa-based digital security firm 2Keys in 2019.

This report by The Canadian Press was first published April 16,2024.

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