The agreement marks the first acquisition by Interac since it overhauled its corporate structure last year. The old structure would have made it difficult to make such a deal, according to chief executive Mark O’Connell, seen here.Interac Corp. has acquired Ottawa-based company 2Keys, a specialist in digital identity, to help the payments processor build new technology for securing and verifying who is involved in financial transactions.
Interac previously worked with 2Keys on a project to create secure access to government services using banking credentials, and that relationship spurred merger discussions a year and a half ago. Interac’s goal is to work with governments to help issue and manage secure digital versions of key identity documents such as driver’s licences and birth certificates, and to use that information to more securely underpin the flow of money.
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