-   Visa payWave feature gives consumers a fast and convenient way to pay
        for small dollar purchases

    -   TD Merchant Services becomes first Canadian payment processor to
        offer Visa payWave acceptance to merchants

    TORONTO, Jan. 24 /CNW/ - TD Canada Trust today announced the Visa payWave
contactless payment feature will be added to TD Visa chip Cards issued in
Kitchener-Waterloo as part of the ongoing market trial of chip-enabled debit
and credit cards. The Visa payWave feature gives cardholders the option of
paying for small dollar purchases - typically under $25 - simply by waving
their credit card near a Visa payWave reader. Select TD Visa Cardholders in
Kitchener-Waterloo will receive their new 'dual interface' chip and Visa
payWave-enabled Card beginning in April.
    Also announced today, TD Merchant Services has begun installing Visa
payWave secure contactless readers at merchant locations in the
Kitchener-Waterloo area including participating Dairy Queen and A&W
Restaurants; over 300 additional Visa payWave readers will be installed at
merchant locations across the trial area in the months to come. TD Merchant
Services is the first payment processor in Canada certified by Visa Canada to
offer Visa payWave acceptance to its merchants.
    "Speed and convenience when making purchases are benefits that are
important to our customers - that's why we're offering them the Visa payWave
feature," said Jim Sallas, SVP Personal Lending, TD Canada Trust. "TD Canada
Trust is unique in that we are the only financial institution in Canada to
offer both Visa payWave-enabled products and point-of-sale acceptance, and
we're certain our TD Visa cardholders and merchants will enjoy the benefits of
this simple and fast payment solution."
    Within Canada, the Visa payWave payment platform is unique because it is
based on EMV(TM) chip technology which is widely used in other parts of the
world. This technology provides increased protection against counterfeiting
and skimming fraud as the encrypted data on an EMV chip card is virtually
impossible to copy. Visa payWave-enabled transactions will be processed
through the same reliable Visa payment network used for all Visa card
transactions.
    "We're making the Visa payWave feature available to our entire merchant
customer base in Kitchener-Waterloo and, based on the early response from
merchants, we're excited by its potential for our customers," said Jeff van
Duynhoven, Vice President, TD Merchant Services. "The fact that TD Canada
Trust and other institutions are issuing credit cards with the Visa payWave
feature will help create a critical mass of cards in market in a relatively
short period of time, an important driver whenever introducing new
technology."
    Using a TD Visa Card with the Visa payWave feature to make a purchase can
be faster than paying with cash at quick service restaurants, drive-throughs,
coffee shops, grocery stores and more. Transactions made with a TD Visa Card
using the Visa payWave contactless feature will not require a signature or PIN
to complete the transaction and will provide customers with an additional
vehicle to take advantage of TD Visa's loyalty rewards programs.
    "TD is leveraging Visa payWave-enabled products to offer a faster payment
option that is secure to both busy consumers and merchants who wish to
increase efficiency at the point-of-sale," said Derek Fry, President, Visa
Canada. "Visa congratulates TD on expanding its innovative payment solutions
and on its implementation of chip technology."

For further information: Matthew Cram, TD Bank Financial Group, (416)
983-1514, matthew.cram@td.com