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==History== {{Infobox company | name = Interac Corporation | type = | traded_as = | ISIN = | industry = [[Financial services]] | predecessors = {{ubl| * Interac Association * Acxsys Corporation}} | founded = {{Start date and age|2018|02|01}} | hq_location = | hq_location_city = | hq_location_country = | num_locations = | num_locations_year = <!-- Year of num_locations data (if known) --> | services = | revenue = | revenue_year = <!-- Year of revenue data (if known) --> | operating_income = | income_year = <!-- Year of operating_income data (if known) --> | owners = | num_employees = | num_employees_year = <!-- Year of num_employees data (if known) --> | parent = | divisions = | subsid = | footnotes = }} The network was launched in 1984 through the [[nonprofit organization|nonprofit]] '''Interac Association''', a cooperative venture between five [[financial institution]]s: [[Royal Bank of Canada|RBC]], [[Canadian Imperial Bank of Commerce|CIBC]], [[Scotiabank]], [[Toronto-Dominion Bank|TD]], and [[Mouvement Desjardins|Desjardins]]; by 2010, there were over 80 member organizations. The group founded a for-profit counterpart organization, Acxsys, in 1996, which launched additional Interac-branded services including [[Interac e-Transfer|e-transfers]]. Following several aborted merger attempts which were either blocked by the [[Competition Bureau]] or by some of the co-owners between 2008 and 2013, Interac and Acxsys were combined into a single for-profit organization, '''Interac Corporation''', on 1 February 2018.<ref>{{cite news|url=http://www.ctvnews.ca/bureau-axes-interac-request-to-become-for-profit-1.483315 |title=Bureau axes Interac request to become for-profit |publisher=Bell Media |work=CTV News.ca |date=12 February 2010 |access-date=18 October 2013 |author=The Canadian Press}}</ref><ref name="tgam-interac-corp">{{cite news|url=https://www.theglobeandmail.com/report-on-business/transaction-giant-interac-announces-changes-to-corporate-structure/article37849415/|title=Major revamp gives Interac a chance to compete against rivals|first=James|last=Bradshaw|work=[[The Globe and Mail]]|date=5 February 2018|access-date=12 February 2018}}</ref> Interac's head office is located at [[Royal Bank Plaza]] in [[Toronto]]. In 2019, Interac Corporation acquired 2Keys Corporation, Ottawa-based [[digital identity]] and [[Computer security|cyber security]] for governments, financial institutions and commercial clients'''.'''<ref>{{Cite news |last=Bradshaw |first=James |date=5 November 2019 |title=Interac acquires Ottawa-based digital identity specialist 2Keys |work=The Globe And Mail |url=https://www.theglobeandmail.com/business/article-interac-acquires-ottawa-based-digital-identity-specialist-2keys/ |access-date=4 April 2022}}</ref><ref>{{Cite web |title=Interac Corp. acquires Ottawa-based 2Keys | date=5 November 2019 |url=https://www.interac.ca/en/content/news/interac-corp-acquires-ottawa-based-2keys/#:~:text=TORONTO%2C%20November%205%2C%202019%20%E2%80%93,financial%20institutions%20and%20commercial%20clients. }}</ref> In 2021, Interac Corporation acquired the exclusive rights to the digital ID services for Canada from the digital ID and authentication provider SecureKey Technologies Inc.<ref>{{Cite web |title=Interac Corp. acquires exclusive rights to SecureKey digital ID services for Canada |url=https://www.interac.ca/en/content/news/interac-corp-acquires-exclusive-rights-to-securekey-digital-id-services-for-canada/#:~:text=acquires%20exclusive%20rights%20to%20SecureKey%20digital%20ID%20services%20for%20Canada,-Enables%20development%20of&text=TORONTO%2C%20October%201%2C%202021%20%E2%80%93,rights%20to%20SecureKey%20Technologies%20Inc. |website=Interac| date=October 2021 }}</ref><ref>{{Cite news |last=Streeter |first=Joe |date=October 1, 2021 |title=Interac strengthens digital ID in Canada and North America with SecureKey deal |work=Payment Expert |url=https://paymentexpert.com/2021/10/01/interac-strengthens-digital-id-in-canada-and-north-america-with-securekey-deal/ |access-date=5 April 2022}}</ref> On July 8, 2022, all Interac services were disrupted in Canada due to a [[2022 Rogers Communications outage|nationwide Rogers Communications network outage]] resulting in millions of dollars in lost transactions for businesses.<ref>{{Cite tweet |user=INTERAC|number=1545532928599408643|url=https://twitter.com/interac/status/1545532928599408643|title=Due to the continued nationwide Rogers outage of business and consumer network services, INTERAC Debit and INTERAC e-Transfer continue to be unavailable across Canada.|access-date=2022-07-09 |language=en}}</ref><ref>{{Cite news |date=2022-07-08 |title=Rogers says it has started restoring service following widespread wireless outage - BNN Bloomberg |agency=[[The Canadian Press]]|url=https://www.bnnbloomberg.ca/rogers-outage-affects-passport-services-interac-and-offices-1.1789398 |access-date=2022-07-09 |website=BNN}}</ref> On July 11, 2022, Interac stated they were adding another provider in addition to Rogers to strengthen their network redundancy.<ref>{{cite web | url=https://torontosun.com/business/money-news/rogers-falls-as-massive-outage-raises-concerns-over-shaw-deal | title=Rogers falls as massive outage raises concerns over Shaw deal }}</ref>
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