Interac: Be in the black
Situation analysis
Overall assessment
For 28 years, Interac has been synonymous with debit acceptance in Canada. Canadians rely on Interac 12 million times a day to pay, be paid, withdraw cash and transfer funds electronically.
But despite enjoying near universal brand recognition, consumers struggled to explain what Interac is or what it does. (Is it a product? A service? A company? A brand?) That's because they don't actively choose to use Interac– anyone with a bankcard is automatically enrolled. People were, essentially,...