Digital Commerce Payments (DCPayments), a Canadian payments provider and part of Digital Commerce Group, announced a new checkout capability that enables merchants to offer the Interac e-Transfer Business Request Money feature alongside credit cards within an online purchase experience. The Interac e-Transfer service is a cornerstone of the Canadian digital economy, with over 1.6 billion transactions processed last year. Therefore, the new capability brings a familiar payment method directly into the checkout flow, connecting bank authorization and payment confirmation to the customer’s purchase.

Available through DCPayments’ transaction acquiring solution, the capability allows customers to select Interac e-Transfer at checkout and approve the payment through their participating financial institution in a way that feels like they’re never leaving a merchant’s website. Merchants can offer it as an additional payment choice or encourage its use for larger purchases where credit card processing fees can have a greater effect on margins.

The integrated flow also streamlines payments by Interac e-Transfer. Rather than giving customers an email address and separately matching incoming transfers to orders, businesses can combine the payment request, transaction status and checkout experience into one process. Payments can be completed in near real time, giving merchants fast access to cash with no option for chargebacks.

“Many Canadian businesses already see the value of account-based payments, but the experience often sits outside their normal checkout process,” said Pamela Draper, President of DCPayments. “Bringing Interac e-Transfer Business Request Money into checkout gives merchants a more efficient way to accept payments while offering customers a familiar and convenient way to pay.”

Interac e-Transfer Business Request Money is designed as a seamless way to collect money using the trusted and secure Interac e-Transfer network. Potential users include professional services firms, contractors, home-services companies, education providers and other organizations seeking to reduce card processing costs without adding friction to the payment experience.

Additionally, because funds move directly between accounts, Interac e-Transfer can help reduce the risk and costs associated with chargebacks compared to other payment methods. This added benefit can further benefit a merchant’s bottom line.

DCPayments developed the checkout capability using technology already deployed for wallet-funding transactions. The company has adopted an established payment flow for merchant checkout, creating a potential cost-saving alternative to credit card acceptance that also allows accelerated access to funds for merchants.