Interac Joins MaRS’ Financial Technology Cluster to Connect with Startups

MaRS Discovery District today announced a partnership with Interac.

Interac is joining MaRS’ Financial Technology cluster to connect with startups developing next-generation technology in emerging payments, peer-to-peer transactions, alternative lending and crypto-currencies.

“The participation of Canada’s largest debit payment organization in MaRS FinTech cluster will further strengthen Toronto’s leadership as a global hub for financial services innovation,” said Adam Nanjee, Head, MaRS FinTech. “Through their expertise, Interac can offer our startups valuable perspective on the Canadian and global payments industries.”

Interac will work with MaRS’ growing community of financial technology entrepreneurs and collaborate with them on new technologies in emerging payments and transactions.

“As Canada’s domestic debit brand, we are excited to strengthen our commitment to home-grown innovation through our partnership with MaRS,” said Mark O’Connell, President and CEO at Interac. “In a time of rapidly advancing payments technology, our participation in the innovation ecosystem at MaRS enables us to engage with the brightest minds from Canada’s FinTech startups while exploring the latest innovative and secure payment solutions.”

Earlier this year, CIBC, PayPal, Moneris and UGO partnered with MaRS. MaRS is also collaborating with Startupbootcamp FinTech, a program led by the UK-based accelerator to help FinTech ventures expand globally.