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INTERAC Milestones in Canada

  • 1984—Five financial institutions decide to link their own Automated Banking Machine (ABM) networks to give customers broader access to cash dispensing.
  • 1986—The first Shared Cash Dispensing (SCD) transaction takes place.
  • 1990—INTERAC Direct Payment (IDP) debuts in the capital region.
  • 1994—IDP becomes available nationally.
  • 1997—One billionth IDP transaction is logged.
  • 2000—IDP surpasses cash as Canadians' preferred way to pay for purchases.
  • 2001—For the first time since its introduction, IDP reaches more than two billion transactions in one year.
  • 2004—IDP sees its busiest day in history, logging 13 million transactions on December 23, 2004.
  • 2005—INTERAC has grown to more than 90 member organizations, with more than 47,000 ABMs that can be accessed through the INTERAC network.
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