INTERAC payouts enable merchants to send funds to consumer bank accounts. Consumers indicate on the merchant’s website that they want to withdraw funds, and the merchant sends Paramount an API call to process the transaction.

See Payout request for information about the parameters included in the payout.

There are two methods or sending INTERAC payouts to consumers:

Both methods support routing to EFT if enabled on your account to seamlessly switch payouts from Interac to EFT payment rail.

Instant Payouts to Bank Account

Instant Payouts require consumers to include their bank account details (institution number, branch transit number, and account number) in their payout request. Their payout funds are instantly deposited into their bank account without any further action by the consumer. If an incorrectly formatted account number (account_number) is included in the request, error B018 is returned in the payout notification.

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Limited to Supported Financial Institutions Only
Payouts to bank account number is limited to participating financial institutions with INTERAC. See Payouts via ANR Supported Banks and Payout Request Parameters for more details.

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Verified Instant Payouts
See the INTERAC Payouts API reference for more details on making a verified instant payout.

Instant Payouts via e-Transfer

If a bank account number (account_number) is not included in the payout request, and the consumer has enabled INTERAC auto-deposit, the payout amount is immediately deposited directly into the consumer's bank account via INTERAC e-Transfer.

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To process payouts via INTERAC e-Transfer for consumers who have not enabled auto-deposit, merchants must have their Paramount accounts configured to allow non-auto-deposit payouts.

INTERAC Payouts to EFT Routing

Decrease payout rejections and seamlessly switch from Interac to EFT with Smart Routing.

When EFT routing is enabled for your account, Payouts will automatically switch from Interac to EFT if:

Payout is over $25,000 (up to a maximum of $100k)
Payout is not available for a particular bank with Interac Account Number Routing, the payout will be completed via EFT.

INTERAC and EFT have different settlement time that should be communicated to the user:

Interac Payouts: Settle in seconds/minutes.
EFT Payouts: Settle in 1-3 business days.

To ensure a transparent user experience, use our API response parameters to inform your user about the expected settlement time before they confirm the transaction.

See the INTERAC Payouts API reference for more details.

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To enable Interac to EFT routing, merchants must have their Paramount accounts configured to allow Interac payouts to be routed to EFT. Contact your Paramount account manager for more information.

INTERAC Payouts API

See the INTERAC Payouts API reference for more information on creating and handling INTERAC payouts.