News & Events

What You Need to Know About Interac Flash Transactions

June 17 2016 | By Helen Baginska

Interac Flash allows your patrons to pay for smaller purchases faster with the money coming directly from their bank’s checking account. Interac Flash is a function built on the NFC (near-field communication) technology that lets two local devices placed close to each other communicate.

In order for this to work, the terminal must be equipped with a chip reader that supports the “tap and go” Interac Flash function. To complete a purchase, cardholders must hold their card in front of point-of-sale reader and wait for an “approved” message to appear. 

Sounds easy, right? However, many merchants and cardholders are wondering just how safe Interac Flash transactions are. We put together a few points to help you better understand Interac Flash:

  • It uses a secure chip – the smart chip on the card is like a small computer.  Each time a chip Interac card is used, the unique identification number is generated and this feature makes the card nearly impossible to copy.
  • It gives you a peace of mind – as a merchant, you continue to receive benefits of Interac’s no-chargeback policy, just like with regular chip-and-pin Interac transactions.  
  • It gives your customers peace of mind – cardholders are protected from fraudulent transactions with the Interac’s Zero Liability Policy, which gives them confidence to use Interac Flash at your store. 
  • It protects cardholders by setting a spending limit – a single Interac Flash transaction can’t exceed $100 and the total consecutive contactless transactions per day currently cannot exceed $200.
  • It adds extra protection with additional validation – when the single-transaction limit or cumulative-spend limit is exceeded, cardholders are prompted to insert their card and enter their PIN in order to complete the transaction. This authenticates the cardholder’s identity and resets the limits.

With Interac Flash you can rest assured that transactions are secure and your patrons can enjoy a fast, safe and convenient check-out experience.

Resources used: interac.ca

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