Interac announced Friday that it has signed an agreement to acquire exclusive rights to digital identification services from Canada’s SecureKey Technologies, the payments platform seeking to expand its online services.
The Toronto-based company said SecureKey will help it build a nationwide network that allows people to securely share and digitally verify their identity information.
“We believe digital identity is key to enabling all Canadians to participate equally and securely in the future of the digital economy,” said Mark O’Connell, President and CEO of Interac, in a statement.
Financial details of the deal were not immediately available. The SecureKey provides digital identification and authentication, including through the Verified.Me Service and Verified.Me Connected Government technology.
The company also has partnerships with financial institutions and companies, including all major Canadian banks.
Interac’s progress in online services has accelerated since a 2018 restructuring, which broke the separation between the nonprofit Payment Processing Collaborative Initiative and the business development company. The agreement with SecureKey follows the 2019 acquisition of Ottawa-based 2Keys, which specializes in cybersecurity and digital identity.
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