Personal Finance

Holiday Shopping with Interac #YourChoiceMatters

Disclosure: I am participating in the Interac Pay in a Flash campaign managed by SJ Consulting. I received compensation in exchange for my participation in this campaign. The opinions on this blog are my own.

I never carry cash with me anymore. There is really no need to since all the places I shop accept Interac. I remember five years ago when my favourite local coffee chain started accepting Interac. Before, I’d have to head to my bank withdraw money and then go pick up my morning coffee. It was a big pain! When they started accepting debit cards, I thanked them for making my life a whole lot easier. Now I pay with Interac– even if it’s only for one coffee! It’s so easy and convenient.

It’s the same with my Christmas shopping. I started shopping locally about mid-October. I use either Interac Debit or Interac Flash depending on the amount of the purchase and the store where I’m shopping. It helps me with budgeting because I’m able to check my bank statement online and see how much I spent and where the purchase was made. I always know where my money is going and there is no big bill coming in the mail in January!

Holiday Shopping with Interac #YourChoiceMatters


I’m definitely more budget-conscious this year. I’m now a home owner and have all the extra bills that go along with owning a fixer-upper house. I keep track of everything and it helps me keep a handle of where my finances are at. I only spend what I need to and stick to my budget. I prefer to pay right from my bank account these days vs. paying for it later with a credit card. It saves me having a hefty bill right after the holidays!

I mentioned the reasons why I like to pay with Interac and how it benefits ME, but what I didn’t realize is how it also helps my favourite stores when I choose this method of payment. The way you choose to pay DOES affect businesses and can make a big difference on their bottom line.

Looking at it from a businesses’ point of view, businesses can pay up to eight times more in fees when a person uses a credit card to pay for their purchases. To put it in perspective, take a small business with $1 million in sales a year. They can save more than $10,000 annually if customers pay using Interac Debit or Interac Flash instead of using a credit card. A merchant pays from around 1.5 to over 3 percent of the retail cost for credit card payments while they only pay a single flat fee of around $0.06 per transaction for Interac. The difference in fees is huge! I really had no idea that it cost that much.

I also learned that Interac Debit is a more secure payment option for both businesses and the consumer. The business doesn’t have to worry about chargebacks and the consumer is protected from fraud tactics like skimming, duplicating and electronic pick-pocketing. We, as the consumers, are also protected under Interac’s Zero Liability policy.

In this video, Jim Bexis, owner of Sun Valley supermarket, talks about why he prefers when customers use Interac Debit or Interac Flash and states they’ve never had any fraud with this method. He also says that he is able to give back to charities in the community thanks to the money saved from not having to pay high fees. Check it out below!

The video gives you something to think about doesn’t it? I plan to continue paying for my everyday purchases, big and small, with Interac Debit or Interac Flash. It’s been working well for me and it’s a method of payment that I trust!

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#YourChoiceMatters Twitter Party

You are invited to the #YourChoiceMatters Twitter Party on December 3 at 9 pm EST!


Party Details

  • Date: Wednesday, December 3, 2014
  • Time: 9 pm EST
  • Hashtag: #YourChoiceMatters
  • Host: @INTERAC
  • Co-host: @SJConsulting_CA
  • Eligibility: Prizing open to Canada

Open to Canadian residents who participate in the #yourchoicematters Twitter Party administered by SJ Consulting on Wednesday, December 3rd between 9:00 and 10:00 PM EST, using the hashtag #yourchoicematters.


Please RSVP on the linky below with your Twitter name (ie. @simplystacienet) in the URL field and your Twitter link (ie. in the Name field.

Stacie Vaughan

Stacie is the mom of two girls and lives in Ontario, Canada. She enjoys cooking/baking, photography, reading, DIY and is fueled by lots of coffee!

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