INTERAC USE ON THE RISE
By Adnews Staff
Canadians are moving closer and closer to a cashless society, according to a study done by Statistics Canada. The number of Interac Direct Payment transactions for the first nine months of this year surpassed the total number of transactions for all of 1996. As of September 1997, Canadians used the systems 699 million times, compared to 676 million transactions during 1996. The number of Interac Direct Payment transactions has grown steadily since 1994 - the year the national roll-out was completed. More retailers are also using the system to accept purchases. By September 1997, 225,279 merchants offered the Interac Direct Payment System, compared to 87,998 in 1994.
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