Interac is one of the most popular and widespread online payment processing systems in Canada, especially when it comes to online casino gambling for real money.
Canadians actually have many options besides paying with plastic cards for gambling, but Interac for some reason is still one of the most favorite. Of course, it is an old system and it has been around for years but hasn’t any newer payment system offered more advanced services to replace it?
Seemingly no. Canadian gamblers still look for the best Interac casinos for their betting entertainment and some claim this is the best system they can find to make deposits to and withdrawals from online gambling platforms.
Let’s find out what is so special about Interac in terms of online casino gambling in Canada.
Online Casino Friendly
In contrast to many other payment processing systems, Interac is and has been totally online casino friendly, full stop.
Visa and Mastercard may allow or not allow payments to and from online merchants that look like casino sites; Paypal that has been one of the pioneering payment methods for online gambling may prohibit such payments once and for all.
Some old payment methods like Skrill may start being nasty, blocking accounts and so online casinos may start avoiding to offer them as payment methods, but Interac works with online casinos and this is all we need to know.
Allows Both Deposits and Withdrawals
This may seem like an obvious feature that if a payment method allows deposits to online casinos it also automatically allows withdrawals from online casinos, but this is not the case.
Many payment methods like Visa and Mastercard prohibit transactions from online merchants that look like casinos to the users’ personal cards. Some payment methods like Neosurf cards are just not fit for accepting the funds.
Interac, on the other hand, allows both deposits and withdrawals.
Canadian Banks Work With Interac
One of the best things about Interac in such a highly regulated gambling environment that exists in most Canadian provinces is that it works with many local Canadian banks.
Firstly, this makes Interac totally in line with local legislation. And secondly, this allows the player to transfer funds and receive winnings safely and legally, too. All payments at online casino sites are processed via the Interac and bank online form so the data is protected from breach and fraud.
Not all Canadian banks already work with Interac but finding the one that does is not a problem.
Interac Fees
As any payment processing company, Interac applies fees for its transaction processing services and for other services provided to the users.
The good news about transactions with Interac is that the fees for those are small and stable. Regardless of the size of the transaction or the frequency of payments, the fee per transaction usually varies from 1 to 1,5 CAD. This is a very affordable and fair fee that every gambler can pay without losing much money if they deposit and withdraw often.
(It must be kept in mind, however, that some banks may apply their own fee on every transaction on top of the fee).
Mobile Application
Interac offers a fully functional mobile application for smartphones and tablets, whatever the OS the player uses. This way, casino gamblers can have their casino apps or sites and their payment apps at hand, all in one place, and perform conveniently on mobile devices.
It is always better to have a mobile app than to have to go and log in on the payment site every time you need to make a payment or check your balance.
The Interac apps are fully secure and protected using all the up-to-date technologies. Also, the account as such is tied to the mobile phone number so using an app is even more convenient than using a desktop version.
Safety
Interac has been working on the Canadian market for decades and its reputation is super reliable, so this fact alone makes it very safe and secure for money transactions in general, and for casino deposits and withdrawals in particular.
Interac has been reshaping its reliability together with technological innovations and new online risks, and today it provides safety due to the following features
- chip technology
- concealing personal user information from the merchants
- applying passcode verification
- using biometrics for mobile devices
- protecting the data with several layers of encryption
Two Different Products
Besides being safe, convenient, and casino-friendly, Interac actually has more than just one product to process the money. There are Interac Online and Interac e-Transfer.
Interac Online is faster because the player just has to log in to their bank account and confirm the transaction when they send or receive the money.
Interac e-Transfer requires the user to indicate their email address which is used for security by the bank, so the process is even more secure but slower.