TD Canada Trust, the retail banking arm of the Toronto-Dominion Bank, has become the first in Canada to offer an NFC mobile payment solution that is supported by the country’s three major wireless networks: Bell, Rogers and Telus.
The new TD Mobile Payment feature has been integrated into the bank’s existing mobile banking application, used by more than two million customers, and will enable consumers with compatible NFC phones to make payments of up to C$50 at any Visa PayWave terminal.
The service can be used with the BlackBerry 9900, Samsung Galaxy S III, Samsung Galaxy S4, Samsung Galaxy S4 Mini, Samsung Galaxy Note 2/3, Samsung Galaxy S5 and HTC One, with additional NFC phones to be supported in future releases.
“We’re proud to be the first bank in Canada to offer a mobile payment solution with Canada’s three major wireless networks, on a variety of devices,” says Rizwan Khalfan, senior vice president of digital channels at TD Bank Group.
“We know our customers want more convenient ways to pay — our research shows that more than half of Canadians are already comfortable using their smartphones for everyday purchases. TD Mobile Payment, which is embedded in the TD mobile app, makes it simple, fast and easy to pay for things like your morning coffee.”
“Our focus is on making our customers’ journey simple and convenient no matter when, where, or how they choose to bank with us,” Khalfan added. “We’ve found that Canadians value a quick checkout, which made sense given the growth and popularity of our mobile app and the increasing number of retailers using NFC.”
TD Mobile Payment stores customers’ credit card information on the SIM issued by their mobile network operator and requires them to enter a passcode to access the payment service. The bank’s mobile app also lets users pay bills, view account history, transfer money between accounts and locate TD Canada Trust branches and ATMs.