Market Overview

INTERAC® Online Payments Unaffected by Loss of Canadian Penny


Canadian consumers will see no change in prices for purchases made online

Montreal, Canada (PRWEB) February 04, 2013

As the Royal Canadian Mint stops distribution of the penny today across Canada, businesses will now begin to “round cash transactions to the nearest five-cent increment” a National Globe article explains, leaving only card present purchases and online purchases through services like Interac Online true to their original price.

“The decommissioning of the penny in Canada will end up saving Canadian tax payers millions in the long term, but in the short term the transition will take some time for Canadian consumers to accustom themselves to when paying cash, keeping services like DebitWay Interac Online purchases a comfortable and clear solution,” explains Rod Tomita, Regional Senior Business Development Manager for

Over the next 3 to 4 years, Canadian consumers will witness the penny rapidly move out of the tills of every business across the country, leaving the nickel as the new bookend of coin currency in Canada. The loss of the penny also signifies the loss of a national iconic symbol, the maple leaf, from the pockets of Canadians from coast to coast.

“While Canadians adjust to the loss of the penny, and the nostalgic attachment that many have grown for it, other uniquely and truly Canadian services like Interac Online payments will remain strong and allow Canadian consumers to rally around new iconic symbols and solidify a Canadian experience around those moving forward,” say Rod Tomita of can quickly and easily integrate any existing online site to accept Interac Online payments and increase their sales significantly. Companies with a proven record of sales and a commitment to offering their Canadian customers a safe, secure and trusted way to pay can email DebitWay directly to learn more at, social(at)debitway(dot)ca.

For more information about DebitWay, visit

About DebitWay

Headquartered in Montreal, Canada, is a certified payment provider that offers INTERAC® Online Payment (IOP) solutions. Simply by adding additional payment options to already existing platforms, partners can begin accepting bank payments in real-time instantly.'s list of partners are comprised of some of the most experienced and knowledgeable people within the payment processing industry. Currently, participating financial institutions include: BMO Bank of Montreal, RBC Royal Bank of Canada, Scotia bank and TD Canada Trust.

Contact Information:

Rod Tomita

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