June 8 , 2011
Interac Flash™ to be accepted at Petro-Canada locations across Canada
TORONTO---Interac Association announced that Suncor Energy will accept Interac Flash contactless debit transactions in store at its participating Petro-Canada locations across Canada toward the end of this year, with national rollout in early 2012. Interac Flash, which is an enhancement of Interac Debit, is the first contactless debit technology to be offered in Canada.
Canadians will soon be able to gas up quickly and conveniently by paying directly from their bank account with Interac Flash - all without having to insert their debit card or enter their PIN. With the flash of their card in front of an Interac Flash-enabled contactless reader, cardholders will be able to pay for gas and a variety of other products and services offered by Petro-Canada inside the store.
"With Suncor Energy offering the innovation of Interac Flash at Petro-Canada locations across Canada, cardholders can pay for everyday items using debit faster than ever before," said Mark O'Connell, President and CEO, Interac Association/Acxsys Corporation. "Interac Flash will deliver speed and convenience for both merchants and consumers at check-out, while offering the security features of chip technology."
Interac Flash enabled cards will start to be rolled out through participating financial institutions this year.
How Interac Flash Works
Interac Flash allows cardholders to make secure, contactless debit transactions at the point-of-sale. The card will continue to perform standard chip debit transactions, as it does today, but through the use of dual-interface microchip, the functionality of the card has been enhanced to allow cardholders to make contactless transactions, without needing to insert their card or enter a PIN.
At checkout, cardholders are prompted to place their Interac Flash-enabled card in front of the contactless reader to conduct a secure transaction. The purchase amount will automatically be debited from the bank account that is normally used accessing the chequing button.
If the purchase is above the limits set by the issuing financial institution, the cardholder will be asked to insert the Interac Flash-enabled card and enter the PIN to conduct a regular chip debit transaction. Transaction and card limits are set by financial institutions.
Interac Flash builds on the security of global EMV™ standards and chip technology while maintaining the level of protection Canadians can expect from the Interac brand. Cardholders are protected from unauthorized transactions under the Interac Zero Liability Policy* and merchants continue to receive the benefits of secure and non-refutable transactions associated with Interac Debit chip technology.