Visa's contactless technology offers convenience and the security
benefits of chip card technology
TORONTO, April 30 /CNW/ - Visa Inc. (NYSE: V) announced today in Canada
that the SUBWAY(R) restaurant franchise has joined a growing roster of Visa
payWave(TM) contactless payment enabled merchants, which will allow consumers
to simply "wave and go" when making every day transactions like purchasing a
Contactless payments deliver speed and convenience to participating
merchants and Visa(R) cardholders while offering the security benefits
inherent in chip technology. Participating SUBWAY(R) restaurants across Canada
will soon be equipped with Visa payWave enabled terminals.
"Visa's global experience has shown that contactless payments are
transacted more quickly and are more convenient than cash for smaller
purchases like Subway sandwiches," said Mike Bradley, Head of Products, Visa
"We are looking forward to the opportunity to understand the impact of
contactless on speed of service as well as understanding how many of our
customers take advantage of this payment method," said Marina O'Rourke,
Director of Retail Technology at SUBWAY(R) World Headquarters.
Chase Paymentech(TM), the merchant acquirer of record for SUBWAY
restaurants in Canada, will be an important partner in the effort, handling
the implementation and providing support for the contactless terminals.
"We are excited to work so closely with one of our key clients and bring
them a really beneficial and innovative solution," said Paul Browne,
Vice-President of Operations for Chase Paymentech.
As Visa cards with the Visa payWave feature are issued by financial
institutions, Visa cardholders will be able to purchase their SUBWAY(R) subs
at participating locations by simply waving their card at a contactless
"It's exciting to see one of Canada's largest restaurant chains offering
the convenience of contactless payments to Visa cardholders," continued
The deployment of Visa payWave enabled Visa cards and point-of-sale
terminals is closely aligned with Visa's migration to chip card technology in
Canada. Visa employs a layered approach to its fraud prevention efforts,
including technology on the card itself as well as on Visa's processing
network to help heighten security efforts.
About Visa Inc.
Visa operates the world's largest retail electronic payments network
providing processing services and payment product platforms. This includes
consumer credit, debit, prepaid and commercial payments, which are offered
under the Visa, Visa Electron, Interlink and PLUS brands. Visa enjoys
unsurpassed acceptance around the world and Visa/PLUS is one of the world's
largest global ATM networks, offering cash access in local currency in more
than 170 countries.
The SUBWAY(R) restaurant chain is the world's largest submarine sandwich
franchise, with nearly 31,000 locations in 89 countries, including more than
2,400 locations in Canada. In 2002, the SUBWAY(TM) chain surpassed the number
of McDonald's restaurants open in the United States and Canada. The SUBWAY(R)
restaurant chain was cofounded by Fred DeLuca and Dr. Peter Buck in 1965. That
partnership marked the beginning of a remarkable journey - one that made it
possible for thousands of individuals to build and succeed in their own
business. The SUBWAY(R) chain was named the number one franchise opportunity
in all categories by Entrepreneur magazine in its Annual Franchise 500 ranking
for 2009 - for the 16th time in 22 years! For more information about the
SUBWAY(R) restaurant chain, visit www.subway.ca.
For further information:
For further information: Sarah Van Lange, Fleishman Hillard, (416) 645-
8173, sarah.vanlange @fleishman.ca; Carla Morin, Visa Canada, (416) 860-8850,