TD Bank Group this week announced that 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, Visa’s tokenization technology provides TD customers with security by substituting sensitive account information with encrypted “tokens” during mobile payment transactions.
“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.”
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.