Vogogo Inc. customers will soon have access to Interac's Online's payment network, a partnership designed to enhance Vogogo's processing capabilities as it plots an expansion into Europe.
Interac Online is a transfer and payment service used by Canadian bank consumers, and is part of Interac, Canada's national debit network. Interac is also one of the major players in the development of mobile payments in Canada.
Vogogo helps its customers convert cryptocurrencies, like Bitcoin and Dogecoin, to government-backed currencies for businesses, with a focus on preventing fraud and money laundering. Vogogo's customers will now have access to Interac's debit payment network, allowing them to use the funds they convert to shop at participating businesses.
Vogogo hopes the integration will help it access markets in Europe that rely on bank-authenticated payment systems similar to the Canadian model, Vogogo said in an Oct. 10 press release.
Terms of the agreement were not announced, the Interac Online integration will likely be available to Vogogo customers in before the end of 2014.