Frequently Asked DebitWay Questions
Who Is DebitWay?
DebitWay is a Canadian Corporation that specializes in offering merchants innovative online payment solutions. In Canada, this arena is dominated by INTERAC© Online and DebitWay is proud to be an accredited 3rd Party Service Provider for the INTERAC© Online Payment (IOP) solution.
How is a debit card transaction different from a credit card transaction?
A debit (bank) card is issued to every holder of a Canadian Bank account. A debit card transaction uses the consumer's own funds which are already on deposit in the consumer's bank account(s). Unlike a credit card where funds are "borrowed" to complete a transaction, a debit transaction cannot accrue any interest charges whatsoever
What level of encryption does DebitWay have on their server?
DebitWay uses Thawte 248 bit encryption systems. At the browser level we use 128 Bit SSL.
Is DebitWay PCI Compliant?
Yes, DebitWay is enrolled and has passed all its required mandatory certified polices and procedures and follows the PCI Data Security Standard Code (PCI DSS).
Can the entire network go down?
No, The DebitWay network was designed using a "distributed architecture" approach. While certain members may experience temporary outages, the whole system will not fail. DebitWay and its Association members work diligently to ensure that procedures are in place to manage any service interruptions quickly and efficiently.
Which currencies are supported?
INTERAC© Online is a Canadian service and operates exclusively in Canadian currency.
Can DebitWay and/or INTERAC© restrict the dollar amount processed per month?
No. In most cases, neither Debitway nor INTERAC© have restrictions on dollars volumes processed.
Can a customer charge back be applied?
In Debit Transactions, funds are withdrawn directly from the customer's bank account in real time, therefore a charge back is not possible. However, Debitway will intercede on the customer's behalf, if the merchant is found to be in breach of the governing Code of Ethics.
Can DebitWay and/or INTERAC© accept Vendors or Consumers from outside of Canada?
Any merchant able to meet INTERAC© qualifications will be able to join the DebitWay Family (Please contact our sales office for further information.) Any consumer with a valid Canadian bank account is able to use INTERAC© Online.
Do merchants have to be incorporated?
Yes
If my web site is located outside of Canada, can I still process through DebitWay?
Yes. There are no merchant geographical restrictions in the INTERAC© Online service. Please remember that INTERAC© Online operates exclusively in Canadian funds.
What kind of reporting will I be able to obtain through the DebitWay Control Panel?
DebitWay's proprietary database and Control Panel have been in development for over 5 years. We believe our reports are the most comprehensive in the industry featuring real time data reporting. If a merchant finds existing data is not adequately reported, Debitway will modify reporting to accommodate the merchant's needs.
What is a Hold Back Fund? (also known as a Reserve Fund)
In the world of payment processing, risk assessment is the single most important consideration. Every merchant is individually assessed for risk based on numerous factors such as years in business, type of business, industry segment, type of product, size of transaction, number of transactions per period, number of returns, number of charge backs, etc. Your processing charges are based on the results of the risk assessment.
To protect itself, DebitWay may hold back up to 10% of revenue generated during a merchant's typical settlement cycle. This reserve may be held for a period of up to six months. Once a merchant has acquired a sufficiently reliable transaction history, the reserve amount is reduced or eliminated.
To protect itself, DebitWay may hold back up to 10% of revenue generated during a merchant's typical settlement cycle. This reserve may be held for a period of up to six months. Once a merchant has acquired a sufficiently reliable transaction history, the reserve amount is reduced or eliminated.
When does the Vendor get paid?
Merchant settlement frequency is determined by the merchant's volume and value of INTERAC© Online transactions.
How can I contact DebitWay to find out more about the INTERAC© Online Payment solution?
You may contact an agent by email at [email protected].
Does DebitWay offer any other products or services?
Yes. DebitWay offers credit card payment processing as well as other bank transfer methods.
Frequently Asked INTERAC© Questions.
What is INTERAC© Online?
The INTERAC© Online service is a payment option that allows you to pay for goods and services on the Internet directly from your bank account. It is secure and easy to use.
How does INTERAC© Online work?
The INTERAC© Online service is secure and easy to use because it works with your existing online banking service.
Shop for goods and services at a participating online merchant.
Select the INTERAC© Online option when you are ready to pay and you will be provided with a list of financial institutions.
Select the financial institution that you want to pay from (note: you need to be registered for online banking).
Login to online banking with your usual login ID and password.
Choose an account to pay from.
Confirm the payment - you will be automatically directed back to the merchant website and shown your confirmation page.
Print or keep a record of your confirmation page.
You are done!
Is INTERAC© Online secure?
Yes, the INTERAC© Online service is very secure. Here's why:
You do not need to provide any financial information, card numbers or login information to the online merchant or any third party; no sensitive information is shared
You use your existing online banking service with your usual User ID and password
The payment is completed through the financial institution you know and trust
Why should I use INTERAC© Online?
The INTERAC© Online service provides you with the following benefits:
Privacy: none of your financial details, card numbers or login information are shared with the online merchant or a third party
Ease of use: because the payment is conducted through online banking, you don't need to sign up or create any new passwords or accounts
Security: the payment is completed through the financial institution you know and trust
Spending Control: The INTERAC© Online service helps you better manage your finances you pay immediately using available funds from your bank account, unlike credit where you owe later.
Who can use INTERAC© Online?
Anybody who shops online at a participating merchant and is registered for online banking at any participating financial institutions can use the INTERAC© service.
How can I sign up?
No need to sign up; you just need access to online banking at one of the participating financial institutions.
Can I use INTERAC© Online on U.S. or other foreign web sites?
It is up to each online merchant to decide which payment options it wants to offer its customers. The INTERAC© service is available to all online merchants that do business in Canada. Click here for a list of the online merchants that offer the INTERAC© Online service.
Is there a limit to how much I can spend?
Please contact your financial institution to inquire about your limits.
Where can I use INTERAC© Online to pay?
Merchants that offer the INTERAC© Online payment option range from retail establishments and organizations to government outlets and charities.
How much does it cost to use INTERAC© Online?
Your INTERAC© Online payment is handled by your financial institution, so fees, if any, would be levied by your financial institution. Contact your financial institution to inquire about any fees applicable to your INTERAC© Online payment.
What if I don't have online banking?
It is easy to get access to online banking. Contact your financial institution or visit their website to inquire about signing up.
Can I use INTERAC© Online on any computer?
Yes, you can use the INTERAC© Online service on any computer where you can access the Internet and your financial institution's online banking service. Check with your financial institution for advice on how to safely bank online when using a public computer.
Which financial institutions offer INTERAC© Online?
Who do I call if something goes wrong?
If you have questions or concerns about the goods or services that you have purchased using the INTERAC© Online service, (e.g. about delivery time, shipping options, product information etc.) please contact the online merchant. If you have questions or concerns about your INTERAC© Online payment (e.g. fees, limits, your account, processing times etc.) that cannot be answered by the online merchant, please contact your financial institution.
In a proven case of online fraud, you are protected by the 'Customer Services Rules', which ensure that your funds are returned to your bank account by your financial institution. More information about consumer protection is outlined in the Customer Commitment section.
In a proven case of online fraud, you are protected by the 'Customer Services Rules', which ensure that your funds are returned to your bank account by your financial institution. More information about consumer protection is outlined in the Customer Commitment section.
I'm not sure if my payment was completed. How do I know?
If you reach the confirmation screen, and receive a confirmation number, you can be sure your payment was completed. If you confirmed your payment in online banking, but did not get redirected to a confirmation page on the merchant website, then there was a technical problem.
One of two things may have happened:The merchant received your payment, but for some reason you were unable to see the confirmation page.
The merchant was not able to receive your payment.
You can often determine that it was case (1) if the merchant sends you a confirmation email, or allows you to check your order history on their website. In case (2), the funds will be (in most cases) re-credited to your bank account within minutes. If you are uncertain, contact the merchant to ask whether your order has been processed.
One of two things may have happened:
What if I need to return my purchase? How do I get my money back?
It is important that you check each merchant's return/refund policy prior to making your purchase. Some merchants will process a refund where the funds are credited back to your bank account.
How can I protect myself against online fraud?
In a proven case of online fraud, you are protected by the 'Customer Services Rules', which ensure that your funds are returned to your bank account by your Financial Institution. These 'Rules' are based on the reputable Canadian Code of Practice for Consumer Protection in Electronic Commerce. While we work with all stakeholders, as well as security experts, to maintain the ongoing security of our services, there are actions that you can take as well. You are encouraged to regularly check your bank statements to verify that all transactions have been properly documented. If entries do not accurately reflect transaction activities - for example, if there are missing or additional transactions you should immediately contact your financial institution.