With online gambling being legalized in Canada, players from the country can now enjoy playing their favourite online casino games with free reign. Canadian players have the option of using the most popular and suitable payment method in the country, Interac, and with it, they can easily deposit into their online casino accounts. The online casino industry understands that to lure in new players into their platforms, there has to be a variety of payment methods that will ensure the safety of their money. This is where Interac comes in and stood out among the packs of payment methods in Canada.

Interac is popularly known to only operate in Canada; it is an interbank network that links financial institutions or banks with different types of companies. It is seen as a financial intermediary for payments in the country. It is arguably the safest payment method in Canada as it doesn’t share any financial information with any third parties. We will be talking about how it became the most popular payment method in online casinos.

Popularity In Canada

With Interac Casinos being available only in the Canadian market, it comes as no surprise that almost all banks and over 500k businesses consider it as the best and most valid payment method. With the Canadians employing its use every day, Interac’s benefits are already obvious to them, which, in turn, increases the platform’s popularity every day. As Interac is known to be a safe and reliable payment method, most Canadian casinos added it to their list of multiple payment methods. It didn’t take long before players started choosing Interac over other payment methods. Slowly, it became so popular that all online casinos entering the Canadian market to fight competition has to include the payment method in their list, which also improve the popularity of Interac. Now, you can find Interac as a payment method in most online casinos in the Canadian market.

Fast Transactions

One of the popular reasons Canadians love using Interac as their most preferred payment method is the almost instantaneous transactions it offers. This applies to both depositing and withdrawing the money you’ve from playing online casino games, they are both fast. Unlike other casino payment methods, you won’t have to wait for long before making your wagers once you’re done making your deposits. Withdrawing money from your casino account is just as fast, while payment methods at online casinos, sometimes, take up to a week to carry out a withdrawing process.

Low Transaction Fees

When compared to other payment methods available in online casinos, Interac transaction fees are lower than most. The overall fees charged usually don’t pass the $1 mark. For example, online transactions below $35 fees are usually set around $0.4, and transactions that exceed that amount will remain below $1. Making a transaction of over $300, you will be charged a flat fee of only $1.80 which is the lowest fee you can get. This is how Interac was able to become the most popular payment method in Canada for online casinos.

Security

Transactions with Interac only need your card and PIN, which leaves almost no room for third parties to deceive you, access your cash, or falsify your card. Although the transactions carried out will be visible to the banks, there is still a maximum level of anonymity. Your personal and financial data will never be shared with any third parties including your bank and online casino. Low Fees and Instantaneous transactions are one of the important reasons Interac was able to become the most popular payment method in Canadian Casinos.