How to Enable Real-Time Payouts for Borrowers Using Interac
Audience: Lenders, Fintech Teams Why Speed of Funds Now Drives Borrower Satisfaction In lending, timing matters. Once a borrower is…
Read moreAudience: Lenders, Fintech Teams
Why Speed of Funds Now Drives Borrower Satisfaction
In lending, timing matters. Once a borrower is approved, they expect funds to hit their bank account quickly, and not in one or two business days.
Slow disbursements increase borrower frustration, drive up support costs, and can even cause approved applicants to abandon your platform. With Real-time Payouts, the ability to deliver funds near instantly, reliably, and securely is now a competitive requirement.
Fortunately, Canadian lenders can leverage Interac e-Transfers to enable near instant loan disbursement to virtually any Canadian bank account.
Let us explore how lenders and fintech teams can build this capability into their payment stack, using APIs to fully automate the process.
What are Real-Time Payouts via Interac?
Interac e-Transfer for Business allows lenders to send funds in real time to recipients’ bank accounts, using only the recipient’s email or phone number. Most major banks in Canada support auto-deposit, so borrowers typically receive funds within minutes if not seconds.
Interac e-Transfers provide:
- Near Real-time delivery (24/7/365)
- Broad bank coverage across Canada
- Trusted consumer brand
- Strong security and compliance framework
For lenders, this makes Interac one of the most cost-effective and scalable solutions for building a superior borrower experience.
How Real-Time Disbursements Drive Lending Success
Here’s how instant disbursements improve performance across the lending value chain:
1. Improved Conversion Rates
Borrowers are more likely to complete the loan process when they know funds will arrive near instantly upon approval. This reduces drop-offs after approval.
2. Higher Repeat Usage
Faster time-to-fund builds trust and loyalty. Borrowers who have a great first experience with your platform are more likely to return for future loans.
3. Reduced Support Costs
Delayed payouts often lead to a spike in “Where is my money?” support tickets. Real-time delivery dramatically reduces these inquiries, saving time and operational expense.
4. Competitive Differentiation
Many legacy lenders still use batch EFT or wire payments, which introduce delays. Offering real-time disbursement through Interac positions your platform as a leader in convenience and responsiveness.
How to Enable Real-Time Loan Disbursement in 5 Steps
Fintech teams can follow this roadmap to add Interac-powered instant payouts:
Step 1: Select a Compliant Payment Partner
Choose a provider like Accept/Pay Global that is licensed and approved to process Interac e-Transfers for Business at scale. Your partner should support:
- High-volume transaction processing
- API-based integration
- Automated reporting and reconciliation
- Built-in risk controls and monitoring
Step 2: Build API Integration
Work with your payment partner to integrate their Interac API into your platform. Key capabilities include:
- Initiating payout requests from your application
- Managing limits and transaction controls
- Receiving real-time success/failure responses
- Accessing audit trails for compliance
Well-built APIs enable full automation — no manual file uploads or batch processing required.
Step 3: Map to Your Loan Lifecycle
Determine where in your loan lifecycle to trigger real-time payouts. Best practice is to initiate the Interac payment immediately after:
- Final underwriting approval
- KYC verification
- Fraud and risk checks
- Receipt of any final borrower confirmations
This ensures a seamless user experience.
Step 4: Test Across Devices and Banks
Conduct thorough testing to ensure payouts work flawlessly across:
- Different devices (mobile, web)
- All major Canadian banks
- Varied recipient profiles (auto-deposit enabled vs. not)
Be sure to monitor real-world performance post-launch to maintain optimal delivery speed and reliability.
Step 5: Monitor and Optimize
After go-live, use reporting and analytics to monitor:
- Average time-to-fund
- Success rates across banks
- Failure reasons (if any)
- Borrower satisfaction and repeat usage
Iterate your workflows and messaging to further improve performance over time.
Why APIs Are Essential for Real-Time Payout Success
Attempting to run Interac e-Transfers manually or via batch files won’t scale. To meet borrower expectations and operational efficiency goals, an API integration is the best path forward.
An API-led approach enables:
- Programmatic payouts based on borrower actions
- Automated reconciliation and reporting
- Instant feedback to your platform on payment status
- Full compliance with regulatory and network requirements
Without APIs, your team would be forced to manage high-volume payouts manually — introducing risk, delays, and unnecessary cost.
Why Lenders Choose Accept/Pay Global for Interac e-Transfers
Accept/Pay Global helps Canadian lenders rapidly deploy real-time disbursement capabilities.
Our platform provides:
- High-speed Interac Send processing
- Enterprise-grade API integration
- Support by real people, so you can always call someone
- Full reporting and reconciliation tools
- Robust risk management and compliance
Whether you’re a startup fintech or an established online lender, we help you go live with instant loan disbursement fast — without the burden of building and maintaining complex payments infrastructure.
Real-Time Is Now Expected, Right Now !
Canadian borrowers have little patience for delayed access to approved funds. And in a competitive lending market, speed of disbursement can drive conversion, loyalty, and profitability.
By enabling near real-time payouts through Interac, lenders can turn their payments experience into a strategic advantage.
Ready to enable instant loan disbursement on your platform?
Contact the Accept/Pay Global team for a tailored demo and roadmap to go live.
