January 22, 2016

DirectCash Bank now offering Bulk Interac e-Transfer® service to business clients

TORONTO -- DirectCash Bank (DC Bank) and Interac Association/Acxsys Corporation (Interac) have announced the launch of Interac e-Transfer bulk disbursement ("Bulk Interac e-Transfer") for all of DC Bank's business customers. This enhanced solution extends the core Interac e-Transfer service into the commercial space by offering businesses a secure, cost-effective alternative to cash, cheque, or prepaid card disbursements for their customers.

"Our goal has always been to provide our clients with new and innovative solutions" said Kevin Helfand, President of DC Bank. "That's why we are pleased to offer Bulk Interac e-Transfer to our business customers. The Bulk Interac e-Transfer service provides clients like H&R Block Canada, Inc. ("H&R Block") with an easy and secure method to quickly distribute payments to its large number of customers during the upcoming 2016 tax season when they select the H&R Block Pay With Refund™ service. This enhanced Interac e-Transfer service allows our clients access to a secure and efficient method of distributing payments by offering an alternative to prepaid cards while keeping operating costs to a minimum."

"The Bulk Interac e-Transfer service was developed specifically with business needs in mind," said Mark O'Connell, President and CEO, Interac. "We are excited that DC Bank and their client, H&R Block, have decided to leverage our expertise in electronic payments to offer this solution to their customers."

DC Bank is the third financial institution to offer the enhanced service.



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