Is Neo money card really an interac card

I have stores in my area that accept interac only, with interac logo only. I wonder if Neo money card accepted in those stores.

Ive had the neo money card since it came out, and it does not work as Interac. I found out through trial and error that it uses the Mastercard network, so it essentially operates as a pre-paid Mastercard.

Some banks like Tangerine have real Visa/Debit card with both Visa and Interac logos on the card. This makes interac only transaction possible.

I wish Neo integrate interac functionality into money card, and make it a real hybrid( like Simplii…). So, for interac only transactions, we do not need to look for another card.

Yeah, if I had to guess, I think it has to do with Neo being a Fintech instead of a bank. Like the bank account is Peoples Bank, so it would probably need to be a People’s Bank, Neo branded debit card as opposed to a Neo money card issued by Neo.

But that’s all just a guess based on the way it’s set up! :grinning_face_with_smiling_eyes:

Hopefully @Sana-Neo @Alex-Neo or @Craig-Neo can provide some insight!

Hi @abble! Welcome to the community! Just wanted to jump in and help clarify a few things!

Like @JustBrendo mentioned, the Neo Money card is a prepaid card which can be used anywhere Mastercard is accepted. This is why it doesn’t work with debit only merchants.

Are there any plans to incorporate Interac debit functionality?

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Great question, @AgentSmith! We chose to go with a prepaid card on the Mastercard network because we already had support in place from our credit products, which allowed us to provide a smoother, more seamless experience from the start.

That’s why there aren’t any plans to add Interac debit functionality at the moment, but I’ve shared your feedback with the team for future consideration. Thank you for bringing it up! :hugs: