Interac transfers are growing in popularity

With the return to normal coming at a time when inflation is skyrocketing, Quebecers are increasingly using the Interac money transfer service to share the cost of their activities.

Interac transfers are growing in popularity

With the return to normal coming at a time when inflation is skyrocketing, Quebecers are increasingly using the Interac money transfer service to share the cost of their activities.

This was revealed in a recent survey conducted by Hill Knowlton Strategies on behalf of Interac Corp.

While the number of Interac transfers reached a record level, with more than one billion transactions in the past year, three out of five Quebecers said they used this online service every month.

For 56% of users of this service in the beautiful province, it is the easiest way to share the costs related to activities with other people.

“The rapid growth of this solution can demonstrate that it serves a new need today as people begin to experience experiences together that were out of their reach earlier during the pandemic,” explained Anurag Kar, Vice President assistant at Interac Corp.

After more than two years of the pandemic, people are looking to come together and share moments with their friends and families. In Quebec, this trend is particularly high, as a large majority of Quebecers “are looking forward to meeting friends or family (86%) and attending birthday parties or dinners (79%)”.

“Each generation navigates changing economic conditions, and we see a growing tendency for Canadians, especially younger ones, to use their own money for the simple moments of pleasure shared with friends and family,” said William Keliehor, Chief commercial activities at Interac Corp.

The survey was done online between March 25 and 29 with 1,500 Canadians aged 18 and over.

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