PayFacto integrates Konek to expand payment options for Canadian merchants
Managing transaction fees and dealing with payment disputes can put a strain on daily operations. PayFacto Payments Inc., a Montreal-based payment and hospitality technology provider, is integrating Konek across its merchant and partner networks in Canada.
The move allows businesses to accept account-based payments by phone right alongside traditional card payments. Powered by Interac Corp. and backed by Canada's leading financial institutions, Konek offers an e-commerce payment solution that gives shoppers the choice to pay using an eligible debit card, credit card or directly from a bank account at participating institutions.
Lower costs and improved fraud protection
For merchants running digital commerce, acceptance costs and fraudulent transactions can eat into profits. Konek stands as a digital wallet in Canada where customers can pay at participating online merchants straight from a chequing or savings account through Interac Direct. This setup is specifically designed to help lower the cost of acceptance when compared with most traditional cards.
Beyond lower processing expenses, the platform tackles operational pain points that impact the bottom line. Konek features built-in protections to help reduce fraud and chargeback disputes. Notably, it includes issuer fraud liability, which shifts the responsibility for eligible fraud losses away from the merchant and onto the card or account issuer.
Meeting shopper demand through integrated commerce
As Canadian consumers look for more flexibility at checkout, operators need solutions that balance customer service with back-end efficiency.
"Canadians are asking for more choice in how they pay and merchants want that choice to work harder for their business," said Kris Zanuldin, head of Konek at Interac. Zanuldin noted that PayFacto is helping merchants meet customer expectations while managing payment costs, which is driving momentum for account-based payments nationwide.
PayFacto is rolling out Konek to its merchants, technology partners and channel partners through its integrated commerce platform. This platform unites point of sale systems, payments and digital commerce into a single workflow.
"PayFacto has always focused on delivering flexible payment technology that helps merchants operate more efficiently and better serve their customers," said Martin Leroux, chairman and CEO of PayFacto. Leroux added that integrating Konek provides businesses with a homegrown payment option built on familiar, trusted financial infrastructure.
Direct payments from chequing and savings accounts are powered exclusively through Interac Direct within Konek, giving consumers more choice, convenience and control over their purchases.
