Accepting Interac and credit card payments

[Calendyr]

Does the fact you cannot accept Interac debit create a problem for you guys? Here in Montréal Interac is the most common way to pay now.

[statusdetailing]

I use square. No complaints.

[statusdetailing]

I'm not really hip to this interac thing. It's basically like debit but more instantaneous, right? Basically, it comes directly out of your bank account immediately without any delay from the merchant.

I do hate when I buy something and it finally comes out of my account a week later. So, this prevents that? Is anybody doing this in the U.S?

[ScottB]

Square is a nice choice, a bit expensive but no heavy contracts and need for credit checks. Once business gets up and seeing a lot of card payments, consider a merchant services contract.

[Calendyr]

Hum you guys don't have Interac in the states? It probably runs Under a different name then. Interac allows you to pay with your bank card any bank card to any merchant supporting it.

Détails : Interac - A Leader in Debit & Electronic Payment Services

[AutowerxDetailing]

Hum you guys don't have Interac in the states? It probably runs Under a different name then. Interac allows you to pay with your bank card any bank card to any merchant supporting it.

Détails : Interac - A Leader in Debit & Electronic Payment Services

So, Interac........................................... it's a debit card? That's linked to your bank account? Only they call it something different?

In America we just call them debit cards. If you have a checking account you automatically have a debit card to spend your money from. There is no alternate payment system that you have to fool around with. As a merchant in the states if you accept credit cards you also automatically accept debit cards. You can swipe a credit card on the same machine as a debit card and the only thing that changes is where your money comes from (checking account or credit limit). As a merchant there are typically different fee structures for credit vs debit; however, for many of the mobile payment systems (square, paypal, intuit) there is a single fee for debit/credit transactions.

[Calendyr]

Interac is a network that links all the banks here. So merchants do business with Interac instead of having to deal with all the individual banks.

From what I read on square, Intuit and Paypal, they do not mention debit cards nor Interac. So I was assuming debit cards were not supported. When I set up with them I will know I guess. But if they do not support banking card in Canada, that is quite a weakness since most people use them.

[Spy474]

In Canada, i don't know any compagny that accept Mobile payment system with Interac (or Debit).. I'm was looking for one, but didn't find one!

Ps: Look for your PM Calendyr

[VP Mark]

I use square. No complaints.

This.

[Calendyr]

Well Chase accepts Interac but they have a hefty setup fee (200$) and ongoing fees are very high if you don't have heavy volume (70$ per month plus transaction fees).