Acxsys

From Wikipedia, the free encyclopedia
Jump to navigation Jump to search
Acxsys Corporation
IndustryBanking
SuccessorInterac Corporation
Founded1996
DefunctFebruary 1, 2018 (2018-02-01)
Headquarters
Toronto
,
Canada
Area served
Canada
Websitewww.acxsys.ca/en/

Acxsys Corporation was a Canadian company involved in banking, based in Toronto, Ontario. Acxsys was founded in 1996 as a for-profit counterpart to the nonprofit Interac Association, due to a consent order from the Competition Bureau limiting Interac to being a processor of cash withdrawals and in-person debit payments.[1]

The company operated several Interac-branded services, including Interac Online, for secure online payments made directly from a bank account; Interac e-Transfers, for the transfer of money from one person's bank account to another person's bank account using an email address; and international services, which provide Canadian cardholders with point-of-sale access at nearly 2 million U.S. retailers, and PULSE, Discover, Diners Club International, and UnionPay cardholders access to ABMs in Canada.[citation needed]

Following approval from all shareholders, the Competition Bureau, and other regulators, Interac and Acxsys were merged into the for-profit Interac Corporation on February 1, 2018.[1]

References[edit]

  1. ^ a b Bradshaw, James (February 5, 2018). "Major revamp gives Interac a chance to compete against rivals". The Globe and Mail. Retrieved February 12, 2018.

External links[edit]