Interac Direct Payment definition

Interac Direct Payment means the service provided by Interac to permit Cardholders to pay for goods and services by debiting money directly from their accounts using a POS Device equipped with a PIN pad with PIN verification.
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Examples of Interac Direct Payment in a sentence

  • Interac mandates that all merchants must convert their non-AFD point of sale equipment connected to the Interac Direct Payment network to be chip- enabled in accordance with the following schedule: (i) 35% by December 31, 2010, (ii) 60% by December 31, 2012, and (iii) 100% by December 31, 2015.

  • Services accessed through The Green Machine, Updater, and other automated banking machines, terminals, Interac Direct Payment terminals, telephones, personal computer and other equipment (each a "Machine") always require you to use your PIN or Password in addition to your Card.

  • The following transactions are not permitted on this account: withdrawals, deposits, fund transfers or ▇▇▇▇ payments performed at one of the Bank’s automated banking machines or at a branch; purchases made using Interac Direct Payment; ▇▇▇▇ payments through LBCDirect services; payments on a loan, lines of credit, cheques or certified cheques.