Latest in Visa Payment Technology rolls out at Sears Canada

Sears Canada to enable Visa Debit and Visa payWave for Canadian shoppers from coast-to-coast

TORONTO, Nov. 14, 2011 /CNW/ - Visa Canada and Sears Canada Inc. today announced the availability of Visa Debit to enable Canadian card holders to safely and conveniently pay for purchases made online - at www.sears.ca, or over the phone through the Sears catalogue at 1-800-26-Sears, directly from their bank account.

Shoppers across Canada will be able to use Visa payWave to quickly "wave and go", when purchasing from Sears broad range of merchandise including apparel, home fashions and much more.

"The Sears brand is meaningful to millions of Canadian consumers and we're very proud to be working with Sears to provide the benefits of Visa Debit and Visa payWave technology," said Mike Bradley, Head of Product, Visa Canada.  "Whether transacting at a retail store, online, or via the iconic Sears catalogue, Visa provides safe and convenient payment solutions, helping ensure the best customer experience possible."

"Throughout our long retail history in Canada, we've remained committed to keeping pace with technology and other advancements that ultimately allow us to provide the best customer experience possible," said Peter Kalen, Senior Vice-President, Sears Canada Inc.  "Whether in-store, online, or over the phone, our customers expect an easy and efficient shopping experience.  Visa Debit and Visa payWave are helping us satisfy our consumers by facilitating faster and more convenient shopping."

Visa Debit allows online electronic debiting of funds without requiring customers to sign in to their bank account.  Importantly, it is backed by Visa's multiple layers of security, which help to reduce the risk of fraud through Visa's Zero Liability Policy, Verified by Visa®, E-Promise, AVS (Address Verification Service) and CVV2 (the three-digit code).  With Visa Debit, card holders shopping online, via mail order or phone benefit from greater payment choice and purchase flexibility.

Visa payWave offers a platform for future innovations, including mobile payment technology.  Contactless payments deliver speed and convenience to merchants and Visa cardholders, while offering the built-in security benefits inherent in chip technology. Visa payWave is based on EMV chip technology, which uses a standard 128-bit encryption technology, to securely store and encrypt confidential information. When a customer uses a Visa payWave terminal, the card 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 swipe a card or let it out of their possession, keeping the transaction fast and secure.

Visa employs a layered approach to its fraud prevention efforts, including Zero Liability, which protects card holders against fraud if a stolen Visa card is used to purchase goods in person, online, by mail or by phone. For more information about Visa's Zero Liability Policy, visit www.visa.ca.

About Visa
Visa is a global payments technology company that connects consumers, businesses, financial institutions and governments in more than 200 countries and territories to fast, secure and reliable digital currency. Underpinning digital currency is one of the world's most advanced processing networks—VisaNet—that is capable of handling more than 20,000 transaction messages a second, with fraud protection for consumers and guaranteed payment for merchants. Visa is not a bank and does not issue cards, extend credit or set rates and fees for consumers. Visa's innovations, however, enable its financial institution customers to offer consumers more choices: pay now with debit, ahead of time with prepaid or later with credit products. For more information, visit www.corporate.visa.com.

About Sears
Sears Canada is a multi-channel retailer with a network that includes 196 corporate stores, 286 hometown dealer stores, 31 home services showrooms, over 1,700 catalogue merchandise pick-up locations, 108 Sears Travel offices and a nationwide home maintenance, repair, and installation network. The Company also publishes Canada's most extensive general merchandise catalogue and offers shopping online at www.sears.ca.

SOURCE VISA Canada Corporation

For further information:

Erin Sufrin, Visa Canada, 416-860-3869, esufrin@visa.com

Eliana Cugini, Sears Corporate Communications, 416-941-4426, ecugini@sears.ca

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VISA Canada Corporation

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