August 31, 2011

Parking is no problem with Visa payWave and TPA

TORONTO---Visa announced today that 43 Toronto  Parking Authority (TPA) Green P lots in the City of Toronto  have joined a growing roster of Visa payWave™ contactless payment enabled merchants across Canada. Drivers in   Toronto will now be able to simply "wave and go" when parking in one of 11,600 parking spaces in the city.

"We know Torontonians are busy, and we want to take care of them as efficiently as possible," said Gwyn Thomas, TPA President. "Visa payWave will help save our customers time as they can enter and exit our lots much quicker."

Now, when Visa payWave cardholders enter one of TPA's 43 Visa payWave enabled parking lots in Toronto, they can simply wave their card close to the contactless terminal to gain access to the parking lot. The contactless terminals will bear the Visa brand mark and the universal contactless symbol which is also displayed on the card. When exiting, the cardholder will once again wave their Visa payWave card close to the contactless terminal to process the final payment. Once the receipt is issued, the driver will be allowed to exit.

TPA has also added contactless terminals to its Zeag pay on foot pay stations, so drivers who take a ticket when entering a lot can use Visa payWave to pay for their parking at these stations before they return to their cars and depart.

"The increased speed of contactless payments is a perfect fit for a high volume business like a parking garage," said Mike Bradley, Head of Products, Visa Canada. "Green P has a long history of innovation in the parking industry in North America, and we're pleased to help them serve their customers more quickly and securely with Visa payWave."

Visa payWave offers a platform for future innovations. Contactless payments deliver speed and convenience to merchants and Visa cardholders while offering the built in security benefits inherent in chip technology. Visa payWave transactions employ 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 reader exchange security information and the transaction is completed, all in less than one-third of a second. The cardholder does not need to swipe their card or let it out of their possession, keeping the transaction quick 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.

 

 

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