INTERAC TRANSACTIONS HIT ONE BILLION MARK
By Adnews Staff
Canadians used the Interac Direct Payment system one billion times to purchase items last year, according to statistics tallied by the Interac Association. On average, consumers used the Interac Direct Payment system 32 times per second, or 1, 903.75 times per minute, every hour of every day in 1997. December was the biggest month, with just under 120 million transactions in that month alone. According to surveys, consumers like using the system because of its convenience, confidentiality and safety. Retailers say it gives them a competitive edge and saves them money because they receive fewer cheques. Over 231,393 merchants across Canada use the Interac Direct Payment system.
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