DCPayments Brings Interac e-Transfer® Business Request Money to Online Checkout for Canadian Merchants

New capability gives merchants an integrated account-based payment option designed to lower processing costs on higher-value transactions, reduce chargebacks and provide fast and simplified settlement and reconciliation

CALGARY, Alberta--(BUSINESS WIRE)--Digital Commerce Payments (DCPayments), a Canadian payments provider and part of Digital Commerce Group, today announced a new checkout capability that enables merchants to offer the Interac e-Transfer¹ Business Request Money feature alongside credit cards within an online purchase experience. The Interac e-Transfer service is a cornerstone of the Canadian digital economy, with over 1.6 billion transactions processed last year. Therefore, the new capability brings a familiar payment method directly into the checkout flow, connecting bank authorization and payment confirmation to the customer’s purchase.

Available through DCPayments’ transaction acquiring solution, the capability allows customers to select Interac e-Transfer at checkout and approve the payment through their participating financial institution in a way that feels like they’re never leaving a merchant’s website. Merchants can offer it as an additional payment choice or encourage its use for larger purchases where credit card processing fees can have a greater effect on margins.

The integrated flow also streamlines payments by Interac e-Transfer. Rather than giving customers an email address and separately matching incoming transfers to orders, businesses can combine the payment request, transaction status and checkout experience into one process. Payments can be completed in near real time, giving merchants fast access to cash with no option for chargebacks.

“Many Canadian businesses already see the value of account-based payments, but the experience often sits outside their normal checkout process,” said Pamela Draper, President of DCPayments. “Bringing Interac e-Transfer Business Request Money into checkout gives merchants a more efficient way to accept payments while offering customers a familiar and convenient way to pay.”

Interac e-Transfer Business Request Money is designed as a seamless way to collect money using the trusted and secure Interac e-Transfer network. Potential users include professional services firms, contractors, home-services companies, education providers and other organizations seeking to reduce card processing costs without adding friction to the payment experience.

Additionally, because funds move directly between accounts, Interac e-Transfer can help reduce the risk and costs associated with chargebacks compared to other payment methods. This added benefit can further benefit a merchant’s bottom line.

DCPayments developed the checkout capability using technology already deployed for wallet-funding transactions. The company has adopted an established payment flow for merchant checkout, creating a potential cost-saving alternative to credit card acceptance that also allows accelerated access to funds for merchants.

Frequently asked questions:

How can Canadian merchants accept payments by Interac e-Transfer Business Request Money at online checkout?

Canadian merchants can add Interac e-Transfer Business Request Money to their online checkout through DCPayments’ acquiring solution. Customers select Interac e-Transfer as their payment method and approve the request through their participating financial institution within a virtual iFrame that feels like they’re never leaving a merchant’s website.

How can Canadian businesses save money by accepting payments through DCPayments' Interac e-Transfer Business Request Money solution instead of credit cards?

DCPayments has structured its Interac e-Transfer Business Request Money offering to provide businesses with a cost-effective alternative to traditional credit card payments. Because credit card fees are typically percentage-based, the savings can be particularly meaningful for larger transactions. Businesses interested in understanding the potential cost benefits should speak with DCPayments about its pricing model and how it compares to their current payment acceptance costs.

Can offering Interac e-Transfer Business Request Money help reduce cart abandonment?

Offering Interac e-Transfer Business Request Money can help reduce checkout abandonment by giving Canadian shoppers another familiar way to pay when they prefer not to use a credit card. Adding an account-based option gives customers more payment choice and may help merchants capture purchases that could otherwise be abandoned at checkout.

How does Interac e-Transfer Business Request Money make checkout easier?

The Interac e-Transfer Business Request Money feature connects the payment request, customer approval, transaction status and order confirmation in one purchase flow. Customers do not need to copy an email address or initiate an Interac e-Transfer transaction, while merchants do not need to separately identify and reconcile incoming payments.

Which businesses benefit most from Interac e-Transfer Business Request Money at checkout?

The capability is particularly relevant for Canadian businesses with higher average transaction values, including e-commerce retailers, professional services firms, contractors, home-services companies and education providers. It may also benefit businesses that currently accept Interac e-Transfer transactions and want a more automated checkout and reconciliation process.

How is Interac e-Transfer Business Request Money at checkout different from accepting Interac e-Transfer transactions using an email and payment instructions?

With Interac e-Transfer, a business typically provides an email address and payment instructions, then matches the incoming transfer to an order afterward. DCPayments integrates the Interac e-Transfer Business Request Money feature directly into the checkout flow so the payment request, transaction status and customer order remain connected throughout the process.

How quickly do Canadian merchants receive funds from payments made using Interac e-Transfer Business Request Money?

Interac e-Transfer Business Request Money payments are confirmed and settled in near real time to a merchant's DCPayments wallet. Merchants receive immediate transaction confirmation and accelerated access to funds, including on evenings, weekends and holidays. By comparison, credit card transactions are typically settled no sooner than the next business day.

Is Interac e-Transfer Business Request Money secure for online purchases?

Customers authorize each payment through their own Canadian financial institution using the authentication process they already use for online banking and Interac e-Transfer. Customers do not enter or store credit card information within the Interac e-Transfer Business Request Money checkout flow.

The new capability is available now. For more information, visit https://dc-payments.ca/contact.

About Digital Commerce Group (DCGroup)

Digital Commerce Group (DCGroup) is a premier Canadian financial technology conglomerate headquartered in Calgary, Alberta. As a pioneer in the "Payments-as-a-Service" (PaaS) sector in Canada, DCGroup provides a comprehensive, integrated ecosystem through its core businesses: Digital Commerce Bank (DCBank), a Schedule 1 Canadian chartered bank, Digital Commerce Payments (DCPayments) and Pateno Payments Inc. (Pateno).

With a history spanning over 25 years, DCGroup is dedicated to bridging the gap between traditional banking and modern fintech innovation. With a robust suite of payments-focused APIs and related technologies, the group offers clients unparalleled speed-to-market, customizable integrations, and secure, scalable solutions for card issuing, real-time domestic payments, and digital wallets. DCGroup is committed to driving measurable ROI for its domestic and global partners and serves as a cornerstone of the Canadian fintech landscape through initiatives like the Digital Commerce Group Fintech Grant.

Footnotes:
1. ® Interac e-Transfer is a registered Trade-mark of Interac Corp. Used under licence.