Interac launches online debit payments with KONEK gateway
Interac has announced its new eCommerce payment solution, KONEK, which is supported by Moneris as the initial payment processor.
Interac developed KONEK in collaboration with several major Canadian financial institutions. The platform is designed to allow consumers to choose their preferred payment method from eligible financial institution accounts when making purchases online. This integration provides shoppers with a broader set of options at checkout, including chequing and savings accounts, credit and debit cards, and lines of credit linked to participating banks.
The company describes KONEK as a fully Canadian-built eCommerce payment solution. It allows direct payments from a variety of account types at participating financial institutions, with security and consumer choice positioned as core priorities of the service.
Staples Canada will be the first national merchant for the payment solution.
Merchant benefits
By offering a single point of integration that is platform and operating system-agnostic, KONEK aims to reduce complexity for merchants and help lower cart abandonment rates.
"KONEK offers Canadian consumers a secure, homegrown alternative to international eCommerce payments solutions," said Kris Zanuldin, Head, KONEK at Interac. "We're proud to give shoppers more choice in how they pay online - directly from their trusted participating financial institution accounts. Collaborating with Staples Canada to launch this solution is an exciting milestone, and we look forward to expanding availability in the months to come."
According to Interac, one of the main objectives of KONEK is to deliver a streamlined and secure online shopping experience. The ability to minimise fraud and reduce the steps needed during checkout is expected to support merchants in maintaining higher conversion rates and reducing the incidence of unfinished transactions.
The launch of KONEK at Staples Canada means that customers shopping on staples.ca can immediately access these various payment methods. BMO, National Bank of Canada, Royal Bank of Canada, Scotiabank, and TD Canada Trust customers are the first to have access to the solution. Direct payments from chequing, savings, or line of credit accounts are facilitated through Interac Direct, a new digital payment capability available exclusively on KONEK, which is positioned as a lower-cost solution for merchants.
The collaboration with Interac is expected to further support Staples Canada in enhancing its digital commerce offerings and to maintain its standing in the Canadian online retail market.
Payments infrastructure support
Moneris is providing the payment infrastructure necessary to facilitate the launch of KONEK. As the first commerce solutions provider in Canada to enable KONEK, Moneris is working alongside Interac and Staples Canada to ensure that transactions are processed securely and efficiently for both consumers and merchants.
Interac has stated that the company expects to expand the availability of KONEK to additional merchants throughout 2026. The integration of major Canadian banks at launch is aimed at ensuring a wide base of consumers can immediately make use of the payment solution.
