Interac Corp. reports a record number of transaction for its e-Transfer service for 2018, with more than 371 million e-Transfers worth a total of more than a $132 billion. This represents a 54% increase in volume and a 45% increase in value over 2017.
Across the nation, Canadians have embraced the platform, using Interac e-Transfer on average over one million times a day, and over 35 million times each month.
The majority (80%) of Canadians using online banking are registered to use Interac e-Transfer, with 15.2 million unique active users every month. The average user sends over three transactions per month.
The holiday season clearly showed a spike in e-Transfers, with the highest single day on the service being November 30, 2018, when more than two million e-Transfer transactions were sent. Sixty per cent of all Interac e-Transfer transactions are under $200, and the average transaction size for an e-Transfer is $357. Close to 76% of Interac e-Transfer transactions are deposited on a mobile device.