Scotiabank rides the 'wave' of convenient payments

Scotiabank cardholders can now pay securely for on-the-go purchases with Visa payWave

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TORONTO, March 22 /PRNewswire/ - Scotiabank is inviting Visa cardholders to 'wave and go' when making everyday purchases by adding Visa payWave™, a contactless payment feature, to its line of credit cards. Visa payWave transactions make small purchases faster and easier, reducing the amount of time customers spend at the checkout. Visa payWave is a no-fee enhancement which is now available on select Scotiabank credit cards, including ScotiaGold Passport Visa, Scotia Momentum Visa and SCENE Visa.

With Visa payWave, cardholders no longer need to look for change, key in a PIN or sign receipts for small everyday purchases at participating Canadian merchants. Visa payWave cardholders can simply wave their card in front of a merchant terminal with the universal contactless symbol and they are on their way. Scotiabank cardholders will now be able to make secure contactless transactions at Petro-Canada, Rexall Pharma Plus pharmacies, Cineplex Entertainment movie theatres, Jean Coutu, Rabba Fine Foods, M&M Meat Shops, Second Cup, as well as other retailers.

"At Scotiabank, we are committed to providing our customers with new ways to simplify their everyday banking and shopping experience," said Gillian Riley, Senior Vice-President and Head, Retail Payments, Deposits and Lending, Scotiabank. "Whether it's introducing Visa payWave in order to facilitate faster transactions or providing our customers with mobile banking so they can bank on-the-go, at Scotiabank we are continuing to provide innovative services that will help Canadians in their busy lifestyles."

"Visa payWave is changing the way people pay, and paving the way for new technologies to come," said Mike Bradley, Head of Products, Visa Canada.  "It's convenient, secure, and as always, Scotiabank cardholders are protected by Visa's layers of security, including Zero Liability."

For more information, visit www.scotiabank.com/paywave.

For more information about Visa's Zero Liability Policy, visit www.visa.ca.

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 $541 billion (as at January 31, 2011), Scotiabank trades on the Toronto (BNS) and New York Exchanges (BNS). For more information please visit www.scotiabank.com.

About Visa

Visa is a global payments technology company that connects consumers, businesses, financial institutions and governments in more than 200 countries and territories to fast, secure and reliable digital currency. Underpinning digital currency is one of the world's most advanced processing networks—VisaNet—that is capable of handling more than 20,000 transaction messages a second, with fraud protection for consumers and guaranteed payment for merchants. Visa is not a bank and does not issue cards, extend credit or set rates and fees for consumers. Visa's innovations, however, enable its financial institution customers to offer consumers more choices: pay now with debit, ahead of time with prepaid or later with credit products. For more information, visit www.corporate.visa.com.

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Video: http://www.newswire.ca/en/releases/mmnr/smr/Scotiabank_What_is_Visa_payWave.f4v

SOURCE Scotiabank