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Your MemberCard®
connects you with the INTERAC® Direct Payment system allowing
you to make purchases at participating merchants without carrying
a chequebook and several pieces of idenitifcation or large sums
of cash. Transactions are immediate with funds being transferred
directly from your account to the merchant's account.
How It Works (from
www.interac.org)
When you make
a purchase with your debit card using the INTERAC® Direct Payment
Service, the merchant rings up the sale and enters the amount into
the point-of-sale terminal. You (or sometimes the sales clerk) swipe
your card through the card reader, you enter your Personal Identification
Number and you select the account that is to be debited.
This debit
request is passed through the Interac network. The Personal Identification
Number, card and the funds in the account are verified by your Financial
Institution and you are able to complete the purchase.
All of this
happens in a matter of seconds, while you are at the check-out.
Your debit card is returned to you along with a printed record of
the transaction.
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