Barely a couple of weeks after the release of Rogers suretap wallet, TD Canada Trust on May 9th 2014, announced that it had partnered with Rogers, TELUS as well as Bell to enable their customers to make tiny credit card purchases utilizing an NFC based android device.
Users are required to have an NFC SIM card as well as a compatible device to utilize this service. Most merchants limit their purchases to between $50 and $100, for security purposes. At the moment, only 5 devices are supported namely: Galaxy S3, Samsung Galaxy S4, Galaxy Note II, HTC One M7 and Galaxy Note 3.
TD Canada Trust is the first Canadian bank to roll out mobile payments concurrently to more than one carrier.The transmission system is similar to that of a plastic card, as the SIM stores payment credentials in a secure element that can only be processed by Mastercard or Visa.
How does TD Mobile payment work?
- Open the TD app and select TD Mobile Payment on the homepage.
- TD Mobile Payment will then assess whether your smartphone is supported.
- Follow the steps to add your eligible TD Credit Card(s) to TD Mobile Payment.
- Wait for the notification that confirms you are ready to go, and begin paying with your smartphone.
- Users can purchase stuff worth upto $50 by holding the back of their smartphone over the merchant POS terminal for a couple of seconds.
- The user can select which TD credit card to utilize for a particular purchase - Single use Mode or Always on mode.
Single Use means a user must select the payment Card he wants to utilize – every time he want to make a payment. If the user has set up a Passcode, he will have to enter this before a payment card can be chosen.
Always On means TD Mobile Payment is ready to pay all the time – even when the user does not have the TD Mobile app open. When it’s time to make a payment, holding your mobile device to a merchant terminal will enable the payment to proceed with the users Default Card.
- TD Mobile Payment utilizes advanced encryption technology and a specialized smartphone SIM card.