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March 8 2016

TD adopts Visa’s Secure Tokenization Technology

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TD Bank Group (TD) has announced it is the first Canadian financial institution to adopt Visa’s global standard tokenization technology for its TD app for the Android operating system.

Powered by Host Card Emulation (HCE), this tokenization technology provides TD customers with enhanced security by substituting sensitive account information with encrypted “tokens” during mobile payment transactions. An additional benefit to moving to this new solution is a more seamless user experience to set up and begin using mobile payments, in a matter of seconds.

“We continually look for opportunities to elevate the digital experience for our customers,” said Rizwan Khalfan, Chief Digital Officer, TD. “The adoption of Visa’s tokenization solution allows us to deliver a faster, simpler, and more accessible mobile payments experience, backed by a secure technology developed by a global leader in payments.”

An evolution in mobile payments technology, the move to tokenization means this service is not SIM card or carrier dependant, so it can be used on more phones and by more TD customers. All that is required is a personal TD credit card loaded on an Android phone running on Kit Kat (version 4.4) or higher.

An Android widget is also available, for the first time, to allow for quick and convenient one-button access to launch mobile payments within the TD app.

“We congratulate TD on this significant milestone,” said Derek Colfer, Head of Technology and Digital Innovation, Visa Canada. “Visa Token Service provides a secure environment for mobile commerce, allowing consumers to shop seamlessly and with confidence using their devices.”

For more information and links to download TD app for Android, please click here

  1. EXCLUSIVE: “Passion Project” – Brice van de Walle, Mastercard in ‘The Fintech Magazine’

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  2. FreedomPay Drives Global Merchant Innovation

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  3. FIS Brings AI-Powered Advancements to Seamless, Personalized Digital Banking Experiences

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  4. Citi Ventures Invests in BVNK to Power the Next Generation of Financial Infrastructure

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  5. Nearly Two-Thirds of Global Retailers Say Payment Method Flexibility Drives Revenue Growth, ACI Worldwide Survey Finds

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