Interac acquires rights to SecureKey digital identification services in Canada

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TORONTO — Interac Corp. said Friday that it has secured exclusive rights to SecureKey Technologies Inc.'s digital identification services in Canada as the payments platform looks to push further into online services.

Toronto-based Interac said the deal with SecureKey will help in its building of a national network that will allow people to securely share and verify their identity information digitally.

"We believe that digital ID is the key to empowering all Canadians to participate equally and safely in the future of the digital economy,” said Interac chief executive Mark O’Connell in a statement.

Financial terms of the agreement were not immediately available.

SecureKey provides digital identification and authentication including the Verified.Me service and Government Sign-In by Verified.Me.

The company also has partnerships with financial institutions and businesses including all of the large Canadian banks.

Interac's push into online services has accelerated since the restructuring of the organization in 2018, which eliminated the separation between a non-profit payments processor association and a business development corporation.

The company acquired Ottawa-based 2Keys Corp. in 2019, which is focused on cybersecurity and digital identity.

In August, Interac launched an e-transfer service for businesses.

This report by The Canadian Press was first published Oct. 1, 2021.

The Canadian Press

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