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Interac is not one thing. There are four distinct products — each with different costs, reversibility, automation support, and friction profiles. Most merchants pick the wrong one because the marketing is vague.
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If you have a physical terminal, you're almost certainly already accepting Interac Debit without thinking about it. Your terminal rental from Moneris, TD, or Clover includes it. Cost per transaction is typically $0.05–0.12, significantly cheaper than credit cards. There's nothing to configure — it just works for in-person.
e-Transfer is genuinely great for invoices, freelancers, and service businesses with a handful of transactions per day. Customers send money directly from their bank — no card fees. You pay nothing to receive it. But manually matching incoming transfers to orders at scale is a nightmare. Once you're doing more than 20–30 transactions per day, the time cost exceeds the fee savings unless you've automated it with Request Money or an API integration.
e-Transfer has no native reversal mechanism. You can't "reverse" a received e-Transfer the way you can process a card refund. To refund a customer, you send a new e-Transfer from your own bank account. That means holding cash, dealing with send limits, and doing it manually per transaction. For businesses with >5% refund rates, this is a serious operational cost.
Recurring billing with e-Transfer is possible in theory (customer sets up auto-send) but it puts the burden entirely on them. They can stop it with zero friction. Compare that to a credit card token where you control the charge date. For subscription businesses, card rails through Stripe or Helcim's recurring billing are far more reliable. Every failed or late e-Transfer is a manual chase.
Trades, contractors, consultants, B2B invoicing, real estate deposits, and anyone dealing in transactions over $1,000 where a 1.5–2.5% card fee starts to sting. The absence of chargebacks is a real advantage — a paid e-Transfer is a paid e-Transfer. No dispute window, no reversal, no stolen card liability on the merchant. For high-ticket one-off transactions to trusted customers, it's genuinely the best option available in Canada.