No-Fee Interac e-Transfer Donation System

Client: A Canadian political party
Industry: Non-Profit
Software: WordPress

Applicable to smaller Canadian charities or non-profit groups that wish to receive Interac e-Transfer (inter-bank email money transfer) donations from site visitors while still being able to collect donor information (email & mailing addresses, phone number) that an Interac email transfer does not provide.

An innovative system for accepting highly secure, low fee, but low information Interac (Canadian inter-bank ATM/POS payment system) email money transfers while maintaining donor record collection requirements of election finance law and allowing official tax receipts to be issued. The system ameliorates the problem of the required pre-sharing of a secret password while also ensuring that legally required and desirable donor information (address, phone number, email address) is collected prior to the transmission of funds.

This system does not require any special arrangements or setup with a financial institution other than having an ordinary bank account. There are no ongoing merchant account fees, the sender pays the nominal fixed fee for sending money (from $0 to $1.50), funds are available within hours, chargebacks are impossible, and, unlike credit cards, there are no percentage fees assessed to the recipient. In addition, the donor does not have to provide sensitive account information to the recipient web site or a third-party payment processor, so security concerns are greatly reduced.


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