Visa Canada today announced the launch of a new, TD Canada Trust Visa Debit card, offering Canadian consumers expanded choice, accessibility and payment functionality in the marketplace.
Today's announcement provides TD customers with the ability to shop online, over the phone and by mail in Canada, and in-store at millions of locations outside of Canada using funds drawn directly from their bank account, all with the security features and protections synonymous with using a Visa card.
Visa Debit's enhanced features continue to make payments fast, convenient, reliable and secure for consumers and merchants. In addition to allowing for the one-step electronic debiting of funds when shopping online, internationally, over the phone or by mail, Visa Debit also offers the ability to make regular and recurring bill payments online, providing greater payment flexibility and account management convenience. Visa Debit purchases are backed by Visa's multiple layers of security, helping to reduce the risk of fraud through Visa's Zero Liability Policy, Verified by Visa® service, address verification and the three-digit code on the signature panel.
"We're pleased to be working with TD to introduce Visa Debit to their cardholders," said Sue Whitney, Head of New Products, Visa Canada. "Debit has traditionally been absent from both international point-of-sale and the eCommerce space. TD's Visa Debit solution allows customers, including those who prefer to use debit or those who do not have access to a credit card, to shop online and in-person from merchants outside of Canada."
Debit cardholders will continue to be able to withdraw cash from automated banking machines (ABMs) and purchase goods and services at Canadian merchants with funds directly from their bank account. Point of sale purchases in Canada will continue to be processed through the Interac Debit payments network.
"Visa continues to support the adoption of Debit as a secure, convenient and reliable payment alternative to cash and cheques, connecting consumers to their financial resources quickly and safely," continues Whitney. "Today's announcement demonstrates Visa's ongoing leadership witip within the payments industry, and its commitment to providing innovative payment solutions that meet the evolving ways and places consumers are transacting."