DebitWay’s Electronic Funds Transfer (EFT) Allows Partners Unparalleled Transaction Freedom

Share Article

EFT Enables DebitWay Partners to Access Every Financial Institution in Canada

Alternative Payment Processor
Merchants can offer an alternative payment method that everyone knows how to use.

The Montreal, Quebec-based online payment solution giant,, has reintroduced its long standing online payment option; Electronic Funds Transfer (EFT) to merchants. The 100% Canadian-owned Company continues to excel for its partners and to offer payment platforms to new merchants.

EFT is not a novel payment solution, nor is it new to the DebitWay family. DebitWay partners have been benefitting from EFT for years and now new merchants will have the same opportunity. By reintroducing this method of payment to its existing partners who may not have been aware of this option and to all prospective new merchants, DebitWay has effectively opened the door for everyone to access any and all financial institutions in Canada, be it banks, credit unions or caisses populaires. “Merchants can offer an alternative payment method that everyone knows how to use,” states Director of Business Development & Production, Rod Tomita.

An Electronic Funds Transfer is essentially writing a check online. As long as a user who wishes to make an online transaction is the beneficiary of a valid checking account, he can pay for all goods and services if the merchant has enabled DebitWay’s EFT payment option. Checking accounts, which also go by the terms “banking” and “transaction” accounts, are the most prevalent services offered by Canadian financial institutions; in fact, it is not uncommon for a single person to have multiple checking accounts.

In reintroducing Debitway EFT to their partners and now offering this payment option to everyone, DebitWay is both educating and helping merchants profit from the ability to expand their potential client base and transaction totals. This method of payment is ideal for online shoppers who cannot secure credit cards, or simply prefer to write checks in order to better monitor their transactions. For the tens, if not hundreds, of thousands who manage their finances with credit unions or caisses populaires, EFT has always been the ideal method with which to make an online purchase. Senior software developer Jonathan Arias adds that, “DebitWay has continued to provide a Secured Platform with the highest standards in order to ensure both customer and merchant information security.” Mr. Arias goes on to add, “Over the years, DebitWay has added several security layers but have maintained the same standard and simple API (application program interface) to integrate.”

For vendors seeking to optimize their revenues, EFT proposes the luxury of being able to accept payment from anyone and any financial institution, nationwide. “All merchants will be excited to know that this will accelerate their sales now!” declares Rod Tomita. Moreover, for online merchants who specialize in industries like social gaming, remittance or digital currency and have been unable to secure a reliable payment service provider, Debitway EFT is the answer to their prayers.

DebitWay has been providing qualified merchants with an unparalleled payment processing service for over a decade since its launch in 2004.

Headquartered in Montreal, Canada since 2004, DebitWay continues to be one of the leading Payment Service Providers in the world, as well as a Certified Payment Provider of INTERAC® Online Payment (IOP) solution in Canada. DebitWay merchant partners continue to benefit of being able to accept bank payments in real-time instantly.

Share article on social media or email:

View article via:

Pdf Print

Contact Author

Rod Tomita
Debit Way
+1 514-9912022
Email >
Follow >
Like >