Introducing KONEK, Powered by Interac Corp. and Canada’s Leading Financial Institutions
Introducing KONEK, Powered by Interac Corp. and Canada’s Leading Financial Institutions
KONEK is a new e-commerce payment platform that transforms how Canadians pay and send money online. Developed by Interac Corp. with major financial institutions, KONEK unites multiple payment options in one secure digital interface.
Users can pay directly from chequing, savings, line of credit, or credit card accounts (depending on merchant acceptance) with secure bank authentication. Only essential data is shared with merchants.
It also includes Interac Direct, a digital-only payment method that enables direct payments from bank accounts.
How It Works
New Users: At checkout, select the KONEK button, log in through your bank, and authorize limited account and contact info to create your profile. Choose your preferred payment method - debit, credit, or Interac Direct - and enable biometrics for quicker future access.
Existing Users: Click the KONEK button, authenticate with biometrics or your linked bank, and pay instantly without re-entering details.
Account Management: Users can update payment methods, manage addresses, adjust biometric settings, or delete their account anytime.
Industry Partners
Financial Institutions:
BMO, National Bank of Canada, TD, RBC, Scotiabank
Payment Networks:
Visa, Mastercard, Interac Corp. (American Express coming soon)
Acquirer:
Moneris
Featured Merchants:
Staples, Creekside Fashion, with upcoming integrations from DoBusiness.com and Teranet Undertaking Solution
What This Means for the Industry
For Shoppers:
KONEK provides a unified, secure way to pay by connecting debit, credit, and direct-from-account options in one platform. It offers flexibility across account types and faster checkout with bank authentication or biometrics.
For Merchants:
KONEK simplifies payments and helps reduce cart abandonment by supporting multiple payment methods through one interface. It’s designed to integrate with major banks, payment networks, and acquirers for a smoother checkout experience.
