In 2025, Interac delivered measurable impact for the millions of Canadians who rely on our network. Jeremy Wilmot, President and CEO of Interac, reflects on a defining year of progress, from record transaction volume to new platforms that strengthen trust and choice in Canada’s digital economy.
Read the letterDelivering Impact — by Canadians, for Canadians
2025 Corporate Year in Review
Our impact begins with a tap – familiar but quietly powerful and unmistakably Canadian. In 2025, Interac Corp. (Interac) showed up where Canadians live, work and build – from small businesses on main street to the digital infrastructure underpinning the national economy. Against a backdrop of global uncertainty, Interac put Canada first – reinforcing our role as a proudly Canadian organization, operating here for more than 40 years.
Fiscal year 2025 marked the first year of an ambitious three‑year strategy to double our lines of business and lead Canadians to digital prosperity. While continuing to strengthen Interac Debit®, Interac e‑Transfer® and the Interac Verified™ suite of solutions, we laid the groundwork for what comes next.
We strengthened Canada’s readiness for real‑time payments as the technical operator of the Real-Time Rail, expanded best‑in‑class fraud prevention capabilities and brought a Canadian e‑commerce payment solution, Konek, to market. Together, these efforts are building towards a more resilient, sovereign digital economy – one that enables choice and confidence on a national scale.
None of this happens without our people. In 2025, Interac teams advanced innovation inside our organization while investing time and energy in the communities and causes beyond it.
Above all, 2025 was about momentum. In this report, we are proud to share not just what we achieved, but what we set in motion.
The 2025 Corporate Year in Review highlights our performance, strategy and role in the lives of Canadians.
This report also includes inaugural impact disclosures from the Interac Impact Program, grounded in recognized standards and best practices. These disclosures reinforce our commitment to social equity and strong governance.
Leadership Reflections
Message from the President & CEO
Message from the Chair of the Board
Paul Vessey, Chair of the Board of Directors, reflects on the pivotal first year of the company’s strategy and the Board’s confidence in Interac to deliver secure digital infrastructure for Canadians.
Read the letter
Lead Canadians to Digital Prosperity
Our strategy connects consumers and businesses in Canada to the possibilities of the digital economy, guided by our North Star: to lead Canadians to digital prosperity.
We provide access to seamless, secure payments and verification tools, build national infrastructure that supports financial security, and cultivate an environment where businesses of all sizes can innovate, scale and grow.
Year One of Our Strategy
We achieved results in year one of our strategy that strengthened Canada’s digital infrastructure and advanced national prosperity. We proved something fundamental: when we coordinate our systems, strengthen trust and connect across teams and partners, momentum follows.
Read more from our Chief Strategy & Marketing Officer, Debbie Gamble
2025 Business Highlights
Enhancing Digital Experiences
With Interac e-Transfer Cards, you can transform everyday transactions into moments of connection with engaging, digital cards for a wide variety of occasions.
Read more
Scaling Interac Debit
Smooth Commerce launches Interac Debit for In-App and In-Browser Payments for restaurants and hospitality businesses.
Read more
Integrating Interac Debit
Finix integrates with Interac to expand its payment options to give Canadian merchants and consumers more ways to pay in-store.
Read more
Broadening Access
Payment Service Providers that are both registered under Canada’s Retail Payment Activities Act and as a Money Services Business with the Financial Transactions and Reports Analysis Centre of Canada can now apply for participation in the Interac e-Transfer service, fostering access and innovation in Canadian payments.
Read more
Expanding Interac e-Transfer for Business
Dream Payments launches Interac e-Transfer payouts across Canada.
Read more
Launching Interac Verified credential service
Interac launches new, scalable, reusable credential service to enhance secure identity verification.
Read more
Expanding Interac Verified
Interac, Canadian credit unions to expand secure digital verification for Canadians.
Read more
Delivering Secure Identity Verification
Dealertrack Canada announces new partnership collaboration with Equifax Canada and Interac Corp. for cutting-edge identity verification solution to help combat identity fraud in Canadian auto-lending.
Read more
Combatting Fraud
Heightened emotions can make people more vulnerable to fraud. Interac is equipping Canadians with practical tips and resources to help them stay safe from scams.
Read more
Building Payments Infrastructure
Interac is building nation-wide payments infrastructure with Payments Canada, launching the Real-Time Rail.
Read more
Innovating in Commerce
Agentic commerce will shift how transactions occur, with autonomous agents acting on the consumer’s behalf.
Read more
Good Corporate Governance
We believe strong corporate governance starts with transparent processes that drive the right outcomes. We enable that through clear Board oversight and accountability across the organization.
Our Principles
Conduct and culture
Our Board champions the values of trust, transparency and good governance. We encourage a culture of integrity with all stakeholders, prioritizing input and accountability.
Transparency and risk management
Trust and integrity are at the core of our corporate identity. Our Board oversees frameworks, policies and systems to identify and manage risks, creating a strong risk-management culture.
Responsibility and accountability
Defined mandates, policies and charters outlining corporate responsibilities and authority hold our Board, leadership team and employees accountable for their actions and behaviours.
Strategic value creation
We consider the interests of our shareholders with a strategic lens as we drive meaningful value in our industry, community and economy.
Independence
In accordance with our Unanimous Shareholder Agreement, our 13-member Board includes four Independent Directors. They bring a breadth of industry experience from merchant, venture capital and payments backgrounds.
Continuous improvement
We are committed to continuously improving the way we operate, manage and engage with our stakeholders. We strive to keep pace with the latest developments in corporate governance best practices.
Interac Governance Bodies
We hold ourselves accountable to a culture of transparency, integrity and accountability at every level of the organization, from the Board to our Executive Team and our staff. In 2025, we welcomed Simona Salter and Mathieu Staniulis to the Interac Board.
The Board regularly reviews its mandates and committee charters to ensure that its responsibilities and oversight remain aligned with leading governance practices and the evolving role of the modern Board. In fulfilling its oversight responsibilities, the Board closely monitors emerging risks facing Interac within an increasingly complex operating environment.
Over the past year, the Board has continued to deepen its collective knowledge through targeted education on key topics, including artificial intelligence, digital authentication and fiduciary responsibilities. In addition, Interac benefits from the perspectives of its Advisory Committee, which is composed of ten individuals who participate in our services and are not financial institution shareholders. Chaired by an independent director, the Advisory Committee provides an additional layer of external insight and diversity of perspectives, helping the Board remain informed, agile and responsive to emerging issues of importance.
Board of Directors
Board members bring their industry insights, business experience, and individual perspectives while acting in the best interests of the company.
Read moreBoard committees
Seven Board Sub-Committees assist the Board in fulfilling responsibilities.
Read moreLeadership team
The Interac Executive Committee guides the Interac team in shaping the future of payments in Canada.
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A Culture of Good Ethics and Compliance
Strong ethics are essential to governance excellence. Interac has adopted a values-based ethics and compliance program that uses resources efficiently and closely aligns with our corporate culture. Our Governance, Risk and Compliance Framework reflects a collective commitment from all of us at Interac to identify and manage risk, supported by a comprehensive suite of internal and publicly available policies. Together, these policies enable strong governance and effective oversight of compliance, legal and reputational risks, reflecting our commitment to responsible corporate citizenship.
The Code of Business Conduct and Ethics summarizes the basic ethical and legal principles that guide the conduct of Interac and our employees. It fosters an open and transparent environment where employees can raise concerns without fear of retaliation, establishes the ability to address complex and sensitive issues, and provides accountability if standards of conduct are not upheld.
Data Privacy & Security
Data privacy is recognized as a core business risk and a critical foundation of trust with customers who use our products and services. As such, Interac takes a rigorous and proactive approach to protecting personal information.
This commitment is operationalized through a comprehensive privacy management framework and program, overseen by the Privacy Office and supported by enterprise-wide policies and procedures. These controls are aligned with applicable regulatory requirements and are designed to embed privacy principles at the outset, into day-to-day operations and the broader organizational culture.
Interac supports privacy awareness and accountability through regular, enterprise-wide and role-specific privacy training for employees, complemented by internal and external awareness initiatives. Privacy risks are identified and managed through established processes, including the use of Privacy Impact Assessments (PIAs) and privacy-focused vendor due diligence questionnaires.
In line with industry best practices, the privacy policies are publicly available on the Interac website and provide transparent information on how personal data is collected, used and disclosed when individuals visit Interac websites, communicate by email or phone, or use Interac products and services.
Interac Impact Program
In 2025, Interac launched the Interac Impact Program, reinforcing our commitment to environmental, social and governance responsibilities.
The Program is aligned with our corporate strategy and is designed to integrate seamlessly with existing business priorities. It focuses on advancing initiatives that create value for customers, employees, partners and communities, while strengthening the resilience and sustainability of the organization. It builds on areas where Interac already demonstrates strong performance, such as diversity, equity and inclusion, workforce management, privacy and community impact.
The Program is informed by in-depth research and stakeholder feedback, enabling Interac to prioritize impact areas that are both relevant to our business and responsive to the evolving expectations of the Canadian financial ecosystem.
Governance and accountability are central to the Program. Management oversight resides within the Corporate Affairs & Partnerships function, supported by cross-functional collaboration at both senior leadership and operational levels, with ultimate oversight by the Board.
In Year one, the Program focused on establishing a foundation for future reporting efforts and developing the underlying infrastructure – the governance mechanisms, stakeholder engagement processes, and internal education and mobilization – necessary to anchor this program. As our sustainability and impact journey evolves, Interac remains committed to continuous improvement. We operate with transparency, inclusion, accountability and integrity, and seek to contribute positively to the financial ecosystem and the communities we serve.
Corporate Performance
In 2025, Interac delivered performance above target, reflecting strong execution against our strategic objectives.
Key Markers of Interac Growth
Interac demonstrated progress across revenue, fraud mitigation, network resiliency and product growth.
Revenue growth
Revenue year over year increase
Fraud losses
Interac fraud-loss basis points
For every $100, approximately four cents was lost to fraud.
For every $100, approximately four cents was lost to fraud.
Network resiliency
Availability of core Interac platforms
Interac Transaction Growth
As digital transformation progressed for Canadians, so did the use of Interac payment and verification solutions.
7B total Interac Debit transactions
August saw a new all-time high volume for the service, with more than 638M transactions.
1.6B total Interac e-Transfer transactions
October saw a record number of Interac e-Transfer transactions, with 149M.
1.8B Interac Debit on mobile transactions
For the third year in a row, Interac recorded more than one billion Interac Debit on mobile transactions in a 12-month period.
Over 160M Interac e-Transfer for Business — Request Money
The Business Request Money feature had a breakout year on the Interac e-Transfer for Business platform, with an 81% YoY increase in transactions.
14M total transactions across Interac Debit e-Commerce via digital wallets
Canadians completed 14% more Interac Debit for e-Commerce transactions in 2025 vs. the previous year.
544M total Interac Verified Services transactions
For the second year in a row, April was the busiest month for the service, with 67M+ transactions.
Committed to People and Community
People are the foundation of our success at Interac.
In 2025, our workforce grew to more than 900 employees, reflecting continued momentum across the business and accelerating organizational needs. We filled over 360 roles, and additionally welcomed more than 70 interns, underscoring our commitment to developing early talent through a robust internship program.
This growth was matched by strong interest in joining Interac, with more than 75,000 applications received for employee roles and nearly 50,000 applications for intern positions.
As our workforce expands, we remain deeply committed to being an employer of choice – focused on attracting, developing and retaining top talent.
We Welcomed
2025 Highlights
$800K
invested in community organizations that support Canadians and newcomers in building their financial confidence.*
$250K
donated to the United Way to help support Canadian charities.
$50K
raised in support of the global movement, Movember.
Invested in 30+
Canadian charities from coast-to-coast-to-coast.
Over360
roles hired.
*This investment includes donations to United Way and Movember.
Employee Wellbeing
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Supporting employee wellbeing and professional growth remains a core priority. Interac invests in continuous learning through a minimum of 10 hours of mandatory internal training for all employees, complemented by access to thousands of supplemental online courses to support upskilling. Employees are also eligible for additional funding to support external certifications and education through reimbursement programs. Our total rewards offering includes competitive maternity and parental leave top-ups, flexible hybrid work arrangements, and comprehensive health and mental health benefits.
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On top of vacation days, our team members receive an additional 10 Wellness Days to balance their wellbeing needs. Wellness Days are flexible days intended to be used to maintain mental, physical and social wellness. Team members can use these days as sick days, mental health days, or for religious and cultural observances. They can also be used for appointments, milestones and other needs including caring for family. We also extend statutory long weekends by an additional day to enable team members to benefit from a 4-day long weekend. This allows our team members to balance their lives and helps set Interac apart from other Canadian employers.
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Employee development and accountability are further supported through a robust annual performance management process, designed to encourage meaningful, open dialogue between employees and their people leaders while aligning individual performance with organizational goals.
Employee engagement survey
83% participation rate
Participation rate of employees who opted in to the survey.
Participation rate of employees who opted in to the survey.
Employee engagement score
Average score out of 10
The average score given by employees in response to the question: How likely is it you would recommend Interac as a place to work?
The average score given by employees in response to the question: How likely is it you would recommend Interac as a place to work?
Awards and Accolades
Our approach to talent management continues to earn external recognition. In FY25, we were once again named one of Greater Toronto’s Top Employers (2026) and renewed our certification for Most Admired Corporate Cultures, among other employment-related accolades.
Supporting the Innovation Ecosystem
In 2025, Interac continued to invest in Canada’s innovation ecosystem by working alongside emerging talent and innovation partners across the country. Through the Interac Youth Council program, we engaged a group of young Canadians as advisors on access, equity and the future of digital payments. Their diverse perspectives directly impact how we think about building trusted financial infrastructure. We also deepened our long-standing partnership with The Knowledge Society (TKS), collaborating with youth innovators on real world challenges and early-stage ideas that reflect how the next generation expects to engage with the digital economy. Complementing this work, Interac collaborated with accelerators and incubators nationwide, supporting the development of homegrown innovation and reinforcing our role in strengthening a resilient, Canadian led digital future.
Community Investment & DEI
In 2025, Interac employees showed up for Canada in meaningful, hands‑on ways. Through volunteer‑led initiatives, giving campaigns and long‑standing partnerships, our teams helped advance financial confidence, support vulnerable populations and strengthen local resilience. Employees and our corporate citizenship partners played an active role in programs such as the Building Financial Confidence Summit, where they volunteered as mentors for newcomers to Canada, and in community education initiatives that reached tens of thousands of Canadians with practical tools to navigate fraud, financial stress and economic abuse. Our culture of giving was further reflected in employee‑driven fundraising efforts, including our annual United Way campaign and Movember, reinforcing a shared belief that caring for our communities is not separate from our work – it is part of how we deliver impact every day.
Read more
Standing Up Against Economic Abuse
According to the Canadian Centre for Women’s Empowerment (CCFWE), domestic violence survivors often experience economic abuse. In some cases, Interac e‑Transfer email notifications were misused to send messages of online harassment, threatening victims’ financial security. To give recipients greater control over their notifications, Interac introduced the Interac e‑Transfer Opt‑Out feature, which allowed users to avoid potentially abusive or harmful messages without affecting their ability to receive funds or fulfill money requests.
Read more
Diversity, Equity and Inclusion
Interac remains deeply committed to fostering a culture of inclusion and belonging across our organization. Our 7 Employee Resource Groups (Black@Interac, Wellness, 1Latinx Connection, 1Interac Pride, 1 Interac Women’s Network, Asian & Pacific Islander @Interac, South Asian Network) continue to play an active role in supporting this commitment, hosting a range of employee-led initiatives through the year with strong participation.
We also observed positive results (+75%) in key employee experience metrics related to inclusion and belonging. In parallel, with our ongoing external partnerships, we are actively working to embed diversity, equity and inclusion considerations into our hiring processes to support sustainable long-term impact.
Our representation of women (40% in 2024 and 2025) and racialized employees (41% and 45% in 2024 and 2025) exceeded Canadian technology sector benchmarks (38.6% women; 33.1% racialized talent in 2024), indicating continued advancement in workforce diversity. Senior leadership (non-executive management) also neared gender parity, supporting a robust leadership pipeline and balanced decision-making.
| FY2024 | FY2025 | |
|---|---|---|
| Representation of Female Employees (%) | 40% | 40% |
| Executive Management | 38% | 38% |
| Non-Executive Management | 41% | 48% |
| Technical Employees | 30% | 28% |
| All Other Employees | 57% | 55% |
| Representation of Racialized Employees (%) | 41% | 45% |
| Executive Management | 13% | 25% |
| Non-Executive Management | 29% | 29% |
| Technical Employees | 42% | 48% |
| All Other Employees | 42% | 44% |
| Black Employees | 5% | 5% |
| Persons with Disability | 4% | 3% |
| Indigenous | N/A | 0.4% |
| 2SlGBTQ+ | 6.7% | 5.6% |
| Transgender | 1.3% | 1.3% |
Data as of October 31, 2025. Full-time and Part-time employees only.
Benchmark: Mercer, 2024 Diversity in Tech Dashboard (Canada)
As part of the BlackNorth Initiative pledge, we report the percentage of Black individuals both within the broader racialized group and as a standalone category. Canadian Government defines Equity Deserving Groups: Women, Racialized, Persons with Disability, and Indigenous. Industry benchmarks expand the definition to also include 2SLGBTQ+, and Transgender.
For more information on our DEI efforts, please see: Diversity, Equity and Inclusion.
Making our Mark
Showing up in the heart of communities across Canada
Trusted Brand
Made in Canada, for Canada has defined our business model for more than 40 years. We’ve consistently shown up for Canadians and Canadian businesses – and in 2025, we took that commitment even further, celebrating both the Canadian maple leaf and our 40th anniversary in the first quarter of the year. Against a backdrop of global uncertainty and a renewed focus on supporting local, Interac introduced our Proudly Canadian logo. We sought to remind all stakeholder audiences that Interac Debit is the Canadian way to pay – one that keeps more money circulating within Canadian small businesses and communities.
Interac Recognized as Most Reputable Financial Services Brand in Canada
In 2025, Interac was recognized as the most reputable financial services brand in Canada, according to the annual Leger Reputation Study. This is an achievement that reflects decades of trust earned with Canadians, businesses and financial institutions.
Interac also ranked as the seventh most reputable brand overall in Canada by the same study, placing it among the country’s most trusted and respected organizations across all sectors. Together, these accolades underscore the strength of the Interac brand and our role in Canada’s financial ecosystem.
Read moreWhere We Were Seen in 2025
In 2025, we strengthened our role as a trusted champion for Canadian small businesses through a bold, integrated lineup of strategic sponsorships and onsite brand activations nationwide. From shaping conversations at leading industry gatherings such as the Payments Canada Summit and Elevate Festival to showing up in the heart of communities at music festivals and holiday markets across the country, we supported entrepreneurs where they live, create and thrive. Many partnerships expanded opportunities for small businesses and reinforced our commitment to encouraging consumers to Tap Canadian, helping fuel local economies and deepen community connections across the country.
Interac Debit Means Support for Small Business
Canadians love small businesses. Eighty-eight per cent of Canadians polled last year by Interac said they’re important to their communities, but the appreciation runs deeper than that. When you Tap Canadian with Interac Debit, more money can stay with the businesses you love.
According to research commissioned by Interac, nearly eight in 10 Canadians (79 per cent) agree that supporting local businesses feels more important than it did before recent trade disruptions. One way they can show their support is by paying with Interac Debit which helps small businesses deal with a big headache: the high fees they often get charged for payment processing with some other payment methods.
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