Under the terms of the partnership, the two companies are set to develop and launch a reloadable EMV Mobile Prepaid Interac Debit card program, dubbed 1Q INSTA Card. The 1Q INSTA mobile app allows eligible Canadian consumers to apply for a free 1Q INSTA account using their smartphone and receive a 1Q INSTA Prepaid Interac Debit card delivered to them in the mail.
The 1Q INSTA Prepaid Interac Debit card can be used for Chip-and-PIN transactions in Canada at any Interac accepting POS terminal or ATM. The card can also be used internationally for ATM transactions using the Cirrus network. The 1Q INSTA Card is an EMV compliant Chip-and-PIN card.
Everlink leveraged its existing relationship with KEBOC to integrate a Prepaid Interac Debit card product into their 1Q INSTA mobile wallet platform and process transactions via the Interac network.
Korea Exchange Bank of Canada has launched a suite of banking services to the Canadian market which includes the 1Q INSTA Prepaid Interac Debit card, which also provides a mobile phone number based funds transfer service, 1Q Dream FID (Free Installment Deposit), 1Q Chequing and Savings and 1Q OK Remit.
Everlink Payment Services is a Canadian provider of integrated payments solutions and services for credit unions, banks and independent sales organisations (ISOs). In addition to supplying technology infrastructure and payment network connectivity via their payment network gateway, they also provide a range of integrated payments lines of business including: ATM managed services, card issuance & management, fraud management, POS acquiring and professional services.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now