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Interac acquires rights to Vouchr platform, enabling multimedia in e-transfers

TORONTO — Interac Corp. says it is acquiring the exclusive Canadian rights to use Toronto-based Vouchr Ltd.'s platform, which will allow personalized multimedia messages to be sent alongside money transfers.

The national debit network says that once integrated, its e-transfer service will offer customizable notifications that Canadians can use when e-gifting.

Another feature will allow Canadian businesses to send company-branded e-transfers to employees, customers and suppliers.

Anurag Kar, head of product for Interac e-Transfer, says examples of customization when sending money could include e-cards, videos and GIFs embedded within the transfer.

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Financial terms of the agreement were not immediately available.

Interac says the transaction is part of its strategy to invest in the Canadian fintech ecosystem after also acquiring Ottawa-based digital security firm 2Keys in 2019.

This report by The Canadian Press was first published April 16,2024.

The Canadian Press