TORONTO, Sept. 13, 2011 /CNW/ - Interac Association and Scotiabank are pleased to announce that Scotiabank is now issuing Interac chip debit cards with Interac Flash functionality.  Scotiabank is unveiling its new SCENE ScotiaCard with Interac Flash today at a launch event in the Scotia Plaza Concourse in downtown Toronto.  Event participants will be provided information about the SCENE ScotiaCard and Interac Flash, and have the opportunity to have a "flash" photograph taken with the Interac Truck.

Interac Flash is an enhancement of Interac^® Debit and Canada's first contactless debit payment option. Interac Flash gives cardholders the choice of paying for smaller value items using debit faster than ever before by simply 'flashing' the card at a point-of-sale reader that supports Interac Flash.  This increased speed also helps merchants improve customer throughput at point-of-sale by spending less time processing payments, particularly by shortening the time it might otherwise take to handle cash.

"We are extremely pleased that Scotiabank is starting to issue Interac chip debit cards with Interac Flash functionality," said Mark O'Connell, President and CEO, Interac Association.  "The Interac brand is a brand Canadian consumers and merchants trust and value so we are thrilled to be the first to provide a contactless debit payment solution to the market."

"We are excited to be able to offer our customers the convenience of Interac Flash on their SCENE ScotiaCards," said Brian McCabe, Scotiabank Vice-President of Day-to-Day Banking. "We are always looking for ways to improve our customers' banking and shopping experiences; with Interac Flash our customers can save time at the checkout by simply flashing their debit card to pay for everyday items at participating merchants."

Interac Flash builds on the security of global EMV^TM standards; existing chip debit infrastructure; strong consumer protections and other features unique to Interac Association; as well as leveraging the trusted Interac brand.  Cardholders are protected from unauthorized transactions under the Interac Zero Liability Policy and merchants continue to receive the benefits of secure and non-refutable transactions associated with PIN-based Interac Debit.

About Interac Association
A recognized world leader in debit card services, Interac Association is responsible for the development and operations of the Interac network, a national payment network that allows Canadians to access their money through Automated Banking Machines and point-of-sale terminals across Canada.

Interac Association was founded in 1984 and is comprised of a diverse membership that includes banks, trust companies, credit unions, caisses populaires, merchants, and technology and payment related companies.

Other related services offered by Acxsys Corporation, whose shareholders are the architects of the Interac network, include: Interac Online, for secure online payments made directly from a bank account; Interac e-Transfer^TM, for the secure transfer of money from one person's bank account to another person's bank account**; and international services, which provide Canadian cardholders with point-of-sale access at nearly 2 million U.S. retailers, and PULSE, Discover, Diners Club International and UnionPay cardholders access to ABMs in Canada.

About Scotiabank
Scotiabank is one of North America's premier financial institutions and Canada's most international bank. With more than 70,000 employees, Scotiabank Group and its affiliates serve some 18.6 million customers in more than 50 countries around the world. Scotiabank offers a broad range of products and services including personal, commercial, corporate and investment banking. With assets above $567 billion (as at July 31, 2011), Scotiabank trades on the Toronto (BNS) and New York Exchanges (BNS). For more information please visit www.scotiabank.com.

* Protection applies to losses resulting from circumstances beyond the cardholder's control.  Some conditions apply.  Read more about the Interac Zero Liability Policy at interac.ca
®, TM: Interac, the Interac logo, and Interac Flash are trade-marks of Interac Inc. Used under licence.
EMV^TM is a registered trademark owned by EMVCo. LLC.

** The Interac e-Transfer service, for secure person-to-person payments, is currently available to customers of over 40 banks and credit unions including BMO Bank of Montreal, CIBC, President's Choice Financial, RBC Royal Bank, Scotiabank and TD Canada Trust among others. Central 1, through participating credit unions, offers the option of using mobile phone numbers, in addition to email, to notify Interac e-Transfer recipients. Money never travels by email or text message.  More information about the Interac e-Transfer service and a complete list of participating banks and credit unions can be found at www.interac.ca.