Gigadat is a third-party financial service provider with their headquarters based in Winnipeg, Manitoba. It is important to note that Gigadat is not strictly a payment processor in the sense that they provide their services directly to customers. Instead, Gigadat is a firm that provides other companies with the network equipment, personnel, and other infrastructure that they need to process different types of real money transactions across Canada.
As previously mentioned, Gigadat is most closely affiliated with the payment processor Interac, which is currently one of the largest and most popular payment services in Canada right now. More specifically, Gigadat is responsible for handling transactions for Interac in Canada, via Interac Online, e-Wallet, and Express Connect e-Wallet services.
Gigadat is generally very trustworthy and reliable, with all of the firm's operations being regulated by the Financial Transactions and Reports Analysis Centre of Canada or FINTRAC. The company is also compliant with the anti-money laundering or AML regulations in Canada, as well as the Code of Practice for Consumer Protection.
Given the wide range of payment options and payment processing firms available in Canada, what exactly makes Gigadat a cut above the rest? Believe it or not, there are a few reasons.
One of their key advantages is that they are the main payment processing firm for Interac transactions, which is the largest ATM network in Canada. As such, Gigadat also has one of the largest coverage ranges among all payment processors in Canada, supporting transactions from Labrador to Yukon and everywhere in between.
Given the size of the Interac network, the firm that handles payments through their systems should be expected to have the infrastructure and capabilities to take on the immense volume of these transactions. Gigadat was chosen specifically for this reason thanks to their highly robust payment processing systems, so you can be sure that your transactions will go through with minimal interruptions, delays, or rejections.
With size comes scrutiny, and never is this more true than in the case of financial services. As one of the largest payment processing firms in Canada, Gigadat has implemented all of the security systems and protocols needed to be in compliance with national laws, which guarantees maximum security on all of your transactions.
And when it comes to the casinos in Canada, security is incredibly important. Most of the savvier online gamblers are already well aware of the many potential security risks when they play at real money casinos, not to mention the fact that many banks automatically block and reject gambling-related transactions. In these cases, Gigadat serves as an intermediary between your bank and the casino site; by doing so, your bank will not block your transaction (as it will be seen as a transaction with Gigadat), and the online casino site won’t see your personal banking information as they will be receiving money from Gigadat instead.
As the two endpoints of this transaction, you will have to make sure that both your funding source (whether it is a bank account, an e-wallet, or something else) and your online casino both support transactions through the Interac network. This should be trivial as it is one of the largest banking networks in Canada, but if you need to make sure, you can check out our Gigadat casino reviews here at InsideCasino.
While this step is entirely optional, enabling the auto-deposit feature will be very convenient if you plan to deposit a lot to your casino account. To do this, you will need to go into your bank or e-wallet account’s settings and register the email address used on your Gigadat transactions for auto-deposit. This will tell your bank or e-wallet to automatically approve deposits to Gigadat.
This step needs you to open your online bank or e-wallet app and initiate a fund transfer. It is important to choose Interac Online as the payment processor for the fastest processing times. Beyond that it is all a matter of entering in your Gigadat account address, choosing how much you want to deposit, and confirming the transaction. Depending on the fund source, the transaction should take a few seconds to a few minutes for the money to show up in your online casino account.
The following steps assume that you already have your online casino account set up. If you haven’t done that yet, you may refer to step 1 of our “how to deposit money” tutorial above.
1. Set up your receiving account.
While most people will typically withdraw their casino winnings to the same account that they used to deposit money, online casinos do give you the option to withdraw to somewhere else.
2. Initiate the withdrawal.
Just like with depositing money, we strongly recommend choosing Interac Online as your payment processor for the fastest withdrawal times. Beyond that, all you need to do is to specify the bank or e-wallet account that will be receiving your casino winnings.
3. Collect your money.
Because of how many online casinos and banks process withdrawals, it usually takes a bit longer for money that you withdrew from your casino account to appear in your bank account or e-wallet, a good range to expect is within 1 to 2 business days.
Because the two are so closely intertwined in terms of how they function today, the best way to understand how Gigadat works is to first look at how Interac casinos operate. The firm as we know it today started life in the 1980s as an interbank network formed from the joint cooperation of five of Canada's largest banks at the time. For context, you might better recognize an interbank network as an ATM network - a financial system that enables transactions between participating banks and establishments through the use of a physical bank card, virtual wallet, or some other signifier of a person's source of funds.
Later on, the same consortium of banks that founded Interac would go on to launch Acxsys, a new firm that expanded on the former’s capabilities and services. The two companies would eventually be merged in 2018 to become the Interac Corporation that we see today.
So where does Gigadat fit into all of this? It’s important to remember that Interac’s products are the underlying payment system that allows communication among the banks, merchants, and customers for various transactions. You will find Gigadat used for gaming, esports, utilities and online shopping payments transactions. But at the end of the day, this is the only thing that Interac provides.
This is where Gigadat comes in. As the primary payment processor for Interac transactions, Gigadat is the company that actually reaches out to the banks and merchants when you make a transaction, telling said outlets to transfer your money in the way you requested.
It should be noted at this point that, since Interac still owns the payment systems that make them possible, Gigadat transactions are usually still represented by Interac and may not even indicate Gigadat's role in the translation when you send or receive money.
Many of the firms that handle all of the processes that you deal with on a daily basis are typically well out of the spotlight, and Gigadat is one of the best examples of this. Despite only being shown or mentioned in passing on the transaction page, Gigadat is the company that actually makes your Interac transactions possible.
Learn more about the best Gigadat casinos in Canada right here at InsideCasino.
A Gigadat casino is a casino site that accepts transactions going to and from Gigadat, a financial services firm that works as a payment processor for Interac.
Gigadat is a private company currently owned by Gigadat Solutions, with Guy Fietz as the company CEO. Although they are closely partnered with Interac, Interac does not own Gigadat.
Gigadat is one of the safest payment processors in Canada with a practically 100% success rate for all online casino transactions.
Gigadat is currently regulated by the Financial Transactions and Reports Analysis Centre of Canada or FINTRAC, which is the country’s primary regulatory body for financial institutions. Besides this, Gigadat is also compliant with anti-money laundering and anti-terrorism regulations, ensuring that their operations are not only safe but also legal.