Tim Hortons and Visa payWave brew up a faster payment solution

Nov 19, 2012, 06:00 ET from VISA Canada Corporation

Visa's contactless technology now available at participating Tim Hortons restaurants

TORONTO, Nov. 19, 2012 /CNW/ - Visa Canada and Tim Hortons invite cardholders to 'wave and go' when making purchases using Visa payWave, now available for use at participating Tim Hortons restaurants across the country. Tim Hortons guests can now pay faster for their coffee and Timbits using Visa's contactless technology, bringing cardholders another level of convenience and providing built-in security.

With Visa payWave, cardholders no longer need to look for change, key in a PIN or sign receipts for their food or beverage purchases at Tim Hortons. Visa payWave cardholders can simply wave their card in front of a merchant terminal that displays the universal contactless symbol and they are on their way.

"Tim Hortons is excited to bring Visa payWave to our guests, who will no doubt appreciate the ability to make purchases quickly and securely through contactless payments in our restaurants," said David Clanachan, Chief Operating Officer, Tim Hortons. "We are committed to providing our guests with a wide variety of menu options and with the addition of Visa payWave, we can provide convenience too."

"Visa payWave makes the checkout experience quicker and easier, while paving the way for upcoming innovations like mobile payments," said Sue Whitney, Head of New Products, Visa Canada. "We are proud to be partnering with Tim Hortons to bring the convenience and security of Visa payWave to their iconic restaurants, ultimately helping to enhance the customer experience."

This rollout marks the second announcement for Tim Hortons and Visa Canada. Earlier this year, Tim Hortons and Visa Canada teamed up to allow customers to use Visa cards at more than 3,000 Tim Hortons locations Canada-wide, providing consumers with greater choice, speed and security. To celebrate this milestone, Visa Canada launched a promotion which gave Canadians the chance to win a dream cottage getaway for an entire season. The contest winner was Travis Craddock from Alberta, who won this once-in-a-lifetime summer cottage getaway experience simply by using his Visa card to pay at Tim Hortons.

Visa payWave technology

Visa payWave card-based and mobile-based transactions employ EMV chip technology, which uses advanced cryptographic security to generate a code that changes for every contactless transaction, helping prevent counterfeit fraud from stolen account data. When a customer uses a Visa payWave terminal, the card or mobile device and the terminal exchange security information and the transaction is completed, all in less than one-third of a second. The cardholder does not need to insert or swipe a card or let it out of their possession, keeping the transaction quick and secure.

Visa employs a layered approach to its fraud prevention efforts, including Zero Liability, which protects card holders against fraud if a stolen Visa card is used to purchase goods in person, online, by mail or by phone.   For more information about Visa's Zero Liability Policy, visit www.visa.ca.

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 24,000 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.

About Tim Hortons

Tim Hortons is one of the largest publicly-traded restaurant chains in North America based on market capitalization, and the largest in Canada. Operating in the quick service segment of the restaurant industry, Tim Hortons appeals to a broad range of consumer tastes, with a menu that includes premium coffee, espresso-based hot and cold specialty drinks including lattes, cappuccinos and espresso shots, specialty teas, fruit smoothies, home-style soups, fresh sandwiches, wraps, hot breakfast sandwiches and fresh baked goods, including our trademark donuts. As of September 30th, 2012, Tim Hortons had 4,138 system wide restaurants, including 3,365 in Canada, 755 in the United States and 18 in the Gulf Cooperation Council. More information about the Company is available at www.timhortons.com

SOURCE VISA Canada Corporation