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TheStreet Open House

Tim Hortons And Visa PayWave Brew Up A Faster Payment Solution

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.

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