It allows Canadians to make income tax payments directly from their bank accounts
INTERAC has announced that the Canada Revenue Agency (CRA), a federal government agency, will begin accepting INTERAC Online.
Reportedly, INTERAC Online is an online payment option that allows Canadians to make payments for products or services directly from their bank account, without sharing personal financial information or card numbers.
According to the INTERAC, its online service works with existing online banking services of participating Canadian financial institutions. Since the transaction is conducted within the customer’s online bank account, no card number or other personal financial information is shared with the online merchant or organization and there is no need for any new passwords to be memorized.
Jean-Pierre Blackburn, minister of national revenue and minister of state, Canada, said: “The CRA’s My Payment service-which uses the INTERAC Online technology-allows taxpayers and businesses with accounts at participating financial institutions, to send quick, easy and secure payments to the CRA. Payments can be made from any computer with an internet connection.”