Interac Corp. has introduced a new online payment solution named Konek. This offering aims to provide Canadians with enhanced payment options for their online purchases, specifically allowing payments directly from bank accounts.
Konek Payment Solution Overview
The Konek solution is being launched gradually, with Staples.ca as its initial client. Currently, access is limited to customers banking with five major institutions:
- BMO
- National Bank of Canada
- Royal Bank of Canada
- Scotiabank
- TD Canada Trust
Flexible Payment Options
Konek allows customers to choose various payment methods. Shoppers can use:
- Debit cards
- Credit cards
- Chequing or savings accounts
- Lines of credit
Payments made through bank accounts or lines of credit utilize Interac Direct, a new digital payment solution designed to reduce merchant fees.
Collaboration and Goals
This innovation was developed in partnership with Canadian financial institutions. The objective is to enhance the online payment landscape, offering Canadians more choices while also addressing the issue of cart abandonment.
Kris Zanuldin, the head of Konek, emphasized that the solution presents a secure, domestic alternative to international e-commerce payment methods.
This report was originally published on November 4, 2025, by The Canadian Press.
