Interac to Use Microsoft Azure for its Digital Payments Ecosystem in Canada
Interac has today announced it will be using Microsoft Azure’s cloud capabilities to manage the continued growth of digital transactions, thanks to a surge in demand for its payments solutions which require “a trusted, reliable and secure cloud platform.”
According to a report from Payments Canada, electronic payments accounted for approximately 79% of overall Canadian payment transactions in 2020 alone. And because of the COVID-19 pandemic, even more Canadian consumers are opting for digital methods of payment instead of cash or cheques.
During the pandemic, the company says it processed almost one billion Interac e-Transfer transactions since the beginning of April 2020.
“An important part of our digital transformation strategy is integrating a secure and compliant cloud platform that positions us for future growth and meets the demands of the quickly evolving digital payments landscape,” said Peter Sweers, Chief Technology & Operations Officer at Interac. “We chose Microsoft Azure for its increased scale, security and always-on resiliency.”
Azure will provide Interac with an innovative hybrid model of public and on-premises private cloud that will enable the business to move faster and maintain its high reliability levels.