Dream Payments unveils Interac integration in preparation for the upcoming annual summit
In a move aimed at enhancing the speed, security, and convenience of financial transactions, Dream Payments, a Toronto-based fintech company, has announced the launch of Interac e-Transfer payouts. This new feature allows participating banks, insurers, enterprises, and software-as-a-service (SaaS) platforms across Canada to make real-time disbursements.
Interac e-Transfer payouts offer several core advantages, making them a preferred choice in the current industry standards and with the broader adoption of Interac e-Transfer across Canadian financial services.
One of the key benefits is the speed and convenience it provides. Interac e-Transfer enables instant or near-instant payments between individuals and businesses, directly from bank accounts. This eliminates the need for cheques or wire transfers, streamlining both deposits and payouts.
Another advantage is the low fees associated with Interac e-Transfer compared to credit card transactions, making it a cost-effective solution for high-volume transactions.
Security is another crucial aspect of Interac e-Transfer. Money is never exchanged via email or SMS—only notifications and instructions are sent. The actual funds move securely within the banking system, backed by Interac’s robust fraud prevention and verification technologies.
Interac is widely supported by Canadian banks, credit unions, and other financial institutions, ensuring broad accessibility and integration for consumers and businesses alike.
In terms of use cases, banks and credit unions can facilitate instant payouts to customers for claims, refunds, or rewards, improving customer satisfaction and reducing processing times. They can also leverage Interac’s verification and credential services for smooth onboarding, secure identity verification, and enhanced digital experiences.
Insurers can use Interac e-Transfer to disburse insurance claims quickly and directly to policyholders, reducing delays and improving client experiences. They can also efficiently process and distribute refunds without the need for physical cheques or additional documentation.
For enterprises, Interac e-Transfer payouts can optimize cash flow by allowing instant supplier and vendor payments, reducing dependency on cheques or international wire transfers. They can also disburse salaries, commissions, or contractor payments rapidly and securely, and process refunds or rebates efficiently, enhancing customer trust and satisfaction.
SaaS platforms can offer instant payouts to partners, affiliates, or content creators, supporting monetization and partnership models. They can also embed Interac e-Transfer payouts into SaaS platforms via APIs, allowing seamless integration with existing workflows and accounting systems. Furthermore, they can synchronize payouts with customer records and financial systems, reducing manual intervention and improving accuracy.
The summary table below provides a comprehensive overview of the key benefits and use cases across sectors:
| Sector | Key Benefit | Use Case Example | |-----------------------|------------------------------------|---------------------------------------------------| | Banks/Credit Unions | Security, Speed, Integration | Instant payouts, secure onboarding, verification | | Insurers | Speed, Customer Satisfaction | Claims payouts, refund distribution | | Enterprises | Efficiency, Cost Savings | Supplier/vendor payments, employee disbursements | | SaaS Platforms | Integration, Automation | Partner payouts, automated reconciliation |
Glenn Wolff, Group Head and Chief Client Officer for Interac Corp, stated that Dream's platform is helping organizations meet customer expectations by embedding Interac directly into their digital journeys. He further added that Dream's capabilities are expanding into high-impact use cases like insurance, where speed and trust matter most.
Dream Payments will appear on stage and host executive briefings with financial institutions, insurers, and platforms at the 2025 Payments Canada Summit. The Interac e-Transfer payouts are available on DreamPay, Dream Payments' embedded payments platform.
Interac e-Transfer is deeply embedded in the way Canadians move money, and with the introduction of Interac e-Transfer payouts, Dream Payments is set to redefine the financial transaction landscape in Canada.
1.The Interac e-Transfer payouts, a feature provided by Dream Payments, uniquely positions itself in the finance, technology, and insurance industries, offering speed, security, and cost-effectiveness that align with current industry standards.
- In terms of use cases, the advantages of Interac e-Transfer payouts extend across sectors, with enterprises benefiting from efficient supplier payments and improved cash flow, while SaaS platforms can leverage the technology for automated partner payouts and seamless integration with accounting systems.
