Nov 24 , 2010
Chase Paymentech extends Tim Hortons contract, open doors to debit payments
TORONTO--One of Canada's biggest untapped debit markets swung open this week. When customers head to a restaurant counter or pull up to the drive-thru window at their local Tim Hortons, they can now pay with their Interac Debit card, through Chase Paymentech's proprietary payment processing platform.
Tim Hortons, one of Canada's largest consumer brands, currently offers customers MasterCard credit card and MasterCard PayPass card options, and now Chase Paymentech has extended their Tim Hortons partnership to include the ability for customer's to pay by debit at the majority of Tim Hortons' restaurants nationwide.
"Tim Hortons is proud to partner with Chase Paymentech to help us deliver great service and value to our guests," said Roland Walton, Chief Operations Officer, Tim Hortons. "Chase Paymentech works with Tim Hortons to evaluate innovative processing technologies that allow us to offer safe and convenient payment options to our guests. From account executives to the help desk, Chase Paymentech's staff care about our business and our guests and that's important to our company."
"Today's consumer has come to expect a choice in their payment method and they count on their experience to be fast and reliable," said Sam Jawad, president, Chase Paymentech Canada," a global leader in payment processing. "At Chase Paymentech, we are focused on delivering value to our partners and their customers. Providing the option for Tim Hortons' customers to pay with their Interac Debit card conveniently and dependably is an important part of this commitment."
"Canadians enjoy the convenience and simplicity of making everyday payments using funds directly from their bank account with Interac Debit, and now they have more opportunity to do so at one of Canada's favourite restaurants, Tim Hortons," said Mark O'Connell, president and CEO, Interac Association. "With Tim Hortons' expansion of Interac Debit acceptance through Chase Paymentech, customers will no longer need to think about whether they have cash in-pocket when they buy their morning coffee, breakfast wraps for the kids after hockey practice or donuts for the office."
Tim Hortons is the fourth largest publicly-traded restaurant chain in North America based on market capitalization, and the largest in Canada. Operating in the quick service segment of the restaurant industry, Tim Hortons appeals to a broad range of consumer tastes, with a menu that includes premium coffee, flavoured cappuccinos, specialty teas, home-style soups, fresh sandwiches, wraps, hot breakfast sandwiches and fresh baked goods, including our trademark donuts. As of November 2010, Tim Hortons had 3,649 system wide restaurants, including 3,082 in Canada and 567 in the United States. More information about the Company is available at www.timhortons.com.
A recognized world leader in debit card services, Interac Association is responsible for the development and operations of the Interac network, a national payment network that allows Canadians to access their money through Automated Banking Machines and point-of-sale terminals across Canada.
Interac Association was founded in 1984 and is comprised of a diverse membership that includes banks, trust companies, credit unions, caisses populaires, merchants, and technology and payment related companies.
Other related services offered by Acxsys Corporation, whose shareholders are the architects of the Interac network, include: Interac Online, for secure online payments directly from a bank account; Interac Email Money Transfer, for the transfer of money from a bank account to anyone with an email address; and international services, which provides Canadian cardholders with point-of-sale access at nearly 2 million U.S. retailers, and PULSE, Discover, Diners Club International and China Unionpay cardholders access to ABMs in Canada.
Chase Paymentech Solutions, a subsidiary of JPMorgan Chase with headquarters in Toronto, Ontario is a leader in payment processing. The company provides access to a wide variety of payment methods, such as chip and PIN credit and debit cards and prepaid stored value cards. Chase Paymentech Solutions also provides a full set of solutions aimed at accelerating cash flow and managing transaction data. On the Internet or at the point of sale, Chase Paymentech Solutions' unique combination of outstanding service, innovative solutions and financial strength offers solid benefits to Canadian companies both large and small