Interac Debit on Android Pay in Canada is coming thanks to a partnership between Rambus, Google and Interac Association / Acxsys, the organizations behind Canada’s leading payment brand, Interac.
Through the Interac Token Service Provider (TSP), which was developed in collaboration with Rambus, Interac debit cardholders can make secure mobile debit payments, now using Android Pay, through tokenized transactions.
Beyond ease of use, Android Pay is more secure because it doesn’t share credit or debit card number with the merchant when consumers pay in stores, but uses a virtual account number to represent the card. Additionally, if the phone is ever lost or stolen, consumers can simply use Google’s Find My Device feature to instantly lock the device, secure it with a new password, or wipe it clean of their personal information.
Rambus Security solutions span areas including tamper resistance, network security, mobile payment, smart ticketing and trusted transaction services. Rambus foundational technologies protect nearly nine billion licensed products annually, providing secure access to data and creating an economy of digital trust between our customers and their customer base.
Rambus creates innovative hardware and software technologies, driving advancements from the data center to the mobile edge. Ramus chips, customizable IP cores, architecture licenses, tools, software, services, training and innovations improve the competitive advantage of its customers.
Rambus collaborates with the industry, partnering with leading ASIC and SoC designers, foundries, IP developers, EDA companies and validation labs. Our products are integrated into tens of billions of devices and systems, powering and securing diverse applications, including Big Data, Internet of Things (IoT), mobile payments, and smart ticketing.
In 1996, the eight original architects of the Interac network created Acxsys Corporation to develop new business partnerships and new services and take advantage of opportunities in the marketplace on a competitive basis.
Acxsys is governed by a shareholder board consisting of: RBC, BMO Bank of Montreal, CIBC, TD Canada Trust, Scotiabank, Credit Union Central of Canada, National Bank of Canada, and Desjardins.
Acxsys specializes in the development, operation and management of payment and other ancillary service opportunities, as well as consulting and management services. It provides staff, services and facilities needed to operate Interac Association at cost.
Today, Acxsys offers Interac Online for secure online payments made directly from a bank account, Interac e-Transfer for the transfer of money from one person’s bank account to another, and international services which provide Canadian cardholders with point-of-sale access at nearly 2 million U.S. retailers, and ABM access for cash withdrawals to foreign cardholders in Canada.