Moneris and Konek: bringing pay-by-bank to every Canadian business 

Summary: Moneris was the first commerce solutions provider in Canada to enable Konek, the made-in-Canada ecommerce payment solution from Interac. Now, Moneris is expanding access so any Canadian business selling online can offer Konek at checkout through Moneris Checkout or the Moneris API. For businesses, that means more payment options, lower fraud exposure and a faster path to conversion, all built on infrastructure Canadians already trust.

A Canadian first, again

When Interac launched Konek in November 2025, Moneris was the first commerce solutions provider in Canada to enable it, powering the initial rollout with Staples Canada as the first national merchant.

Now Moneris is the first to make Konek available to all Canadian businesses selling online. Whether you're running a single online storefront or managing a complex ecommerce operation, you can add Konek to your checkout through Moneris, today.

It's a meaningful step. And it reflects how Moneris is positioning Canadian businesses at the front of a fundamental shift in how people pay online.

What is Konek?

Konek is a Canadian ecommerce payment solution developed by Interac Corp. and backed by Canada's leading financial institutions.

Think of it as a single checkout option that gives your customers more ways to pay. Konek bundles two types of payments into one experience:

That second option is exclusive to Konek. Interac Direct is not available through any other payment solution, giving businesses that offer Konek a genuine differentiator at checkout.

For customers, the experience is straightforward. They select "Pay with Konek" at checkout, log in through their own financial institution's secure authentication and confirm the payment. No card numbers to type, no third-party wallets to set up. Returning users can enable passkeys or biometric login for one-click checkouts.

Why this matters for Canadian businesses

More payment options, fewer abandoned carts

Shoppers are opinionated about how they pay. Some are devoted to credit cards for the points. Others prefer to pay directly from their bank to stay on budget. When your checkout doesn't offer options, some of those shoppers leave. According to Interac, over half of Gen Z consumers prefer pay-by-bank options when available. Konek adds a payment method that a growing segment of Canadians actively want, directly at the moment of purchase.

Lower fraud exposure and fewer disputes

When a customer pays through Interac Direct, money moves directly from their bank account to the business. There's no card number changing hands, which removes a common attack surface for fraud. A business using Konek also benefits from a fraud liability shift, meaning they are not held responsible if a customer authenticates through Konek and later reports fraudulent activity. For businesses in categories prone to chargebacks or friendly fraud, this is meaningful additional protection.

Lower cost of acceptance

Interac Direct comes with a lower cost of acceptance compared to traditional card-based payments. For merchants processing significant online volume, shifting even a portion of transactions to account-based payments can have a real impact on the bottom line.

Built on infrastructure Canadians already trust

Canadians have been using Interac for decades at ATMs and point-of-sale terminals. Konek brings that trusted brand into ecommerce, backed by the same financial institutions customers already bank with. That familiarity lowers hesitation at checkout, especially when you're asking someone to connect their bank account to complete a purchase.

Designed to improve conversion

Fewer steps, instant authentication through a customer's own bank and a seamless flow that doesn't feel like a detour. The Baymard Institute has found that the average large ecommerce site can gain up to a 35 per cent increase in conversion through optimized checkout design. Konek was built with that principle in mind.

Two ways to add Konek through Moneris

Through Moneris Checkout

If you're already using Moneris Checkout, you can add Konek without writing a single line of code. It's a configuration option. Select "Pay with Konek" in your settings, complete the onboarding process and you're live.

Through the Moneris API

If your business needs a more customized experience, Konek is also available through the Moneris API. This gives your development team the flexibility to integrate the Konek SDK directly into your checkout flow, supporting both pay-by-bank and card-based payment options within your existing design.

Who should consider Konek?

Konek is worth exploring for any Canadian business selling online. But a few categories are especially well-positioned:

The bigger picture: why this will reshape Canadian ecommerce

Globally, account-to-account (A2A) payments are one of the fastest-growing forces in digital commerce. According to Juniper Research, global A2A transactions are projected to surge from 60 billion in 2024 to 186 billion by 2029, a 209 per cent increase. The Capgemini World Payments Report projects A2A instant payments will grow from 16 per cent of all non-cash transactions in 2023 to 22 per cent by 2028, while card payments decline from 57 per cent to 50 per cent over the same period.

In markets like Brazil, the Netherlands and Poland, A2A payments already dominate certain transaction types. Canada has been slower to adopt this model in ecommerce, partly because the infrastructure was fragmented. Konek changes that.

What makes Konek different from A2A solutions in other markets is that it's uniquely Canadian. It's built by Interac, the company behind the debit network Canadians use every day, in collaboration with the country's largest financial institutions. It doesn't require businesses to sign up with an unfamiliar fintech or adopt a new platform. Through Moneris, it plugs directly into the infrastructure Canadian businesses already use.

With Canada's ecommerce market projected to reach $120 billion in revenue in 2026, the opportunity is enormous. Konek gives Canadian businesses a way to participate in the global shift toward account-based payments while keeping transactions within a trusted, domestic ecosystem.

Moneris positioning itself at the front of this shift means Canadian businesses don't have to wait for the future of payments to arrive. It's here, and it's available now.

Getting started

If you're a Moneris Checkout user, the path is simple: log in, look for the Konek configuration option and follow the onboarding steps. No development work required.

If you're using the Moneris API or exploring a custom integration, your Moneris account team can walk you through what's available and what the build looks like for your setup.