Interac Corp. has appointed D’Arcy McDonald as Group Head, Product, tasking the longtime financial services executive with leading the evolution of the organization’s national payments and digital trust portfolio.
Effective immediately, McDonald will oversee Interac’s core services — including Interac Debit, Interac e-Transfer, and the Interac Verified suite — while accelerating the development of newer offerings such as KONEK. Collectively, Interac products support how Canadians pay and verify their identity more than 20 million times each day, positioning the organization as a central piece of the country’s financial infrastructure.
“D’Arcy brings deep financial services expertise and a strong understanding of the vital role Interac plays in Canada’s economy,” said Jeremy Wilmot, President and CEO of Interac. “He is uniquely positioned to drive the next phase of our product strategy, bringing clarity, discipline and momentum to our product roadmap as we innovate to meet the evolving needs of consumers and organizations.”
McDonald’s appointment follows a lengthy career in Canadian banking and payments. He joins Interac from Scotiabank, where he most recently served as Senior Vice President for the Ontario Region. Prior to that role, he led several major portfolios including retail payments, unsecured lending, credit cards, and deposit products. Earlier in his career, McDonald held senior leadership roles at TD Bank, with a focus on savings and investing, cross-border services, and digital channel integration.
McDonald also brings deep institutional knowledge of Interac itself, having served on the organization’s board of directors from 2020 through 2025. That experience, Interac says, gives him an enterprise-wide perspective as the company looks to strengthen adoption of its core services while expanding into new areas of digital verification and payments innovation.
“Interac plays a meaningful role in the daily lives of Canadians, enabling millions to transact with confidence,” McDonald said. “I am excited to help shape the next generation of Interac products — solutions that earn Canadians’ trust, put their needs first, and strengthen the digital infrastructure our country depends on.”
The appointment comes as Interac continues to position itself not only as a payments utility, but as a foundational layer of Canada’s digital economy — spanning real-time payments, identity, and secure data exchange.
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