Rambus announced Monday (June 5) that it along with Google and Interac Association/Acxsys Corp., to enable Interac Debit on Android Pay.
According to a press release, Interac debit cardholders will be able to make secure mobile debit payments using Android Pay thanks to the Interac Token Service Provider, which was developed in collaboration with Rambus.
“We’re excited to bring the simplicity and security of mobile payments to Interac Debit customers with Android Pay,” said Pali Bhat, vice president of Payment Products, Google, in the joint press release. “Starting today, people will be able to use their Android device to pay at hundreds of thousands of contactless payment terminals in Canada.”
Android Pay is not only an easy way to make purchases but is also more secure because credit card and debit card numbers aren’t shared with merchants when they pay in stores. Instead, it uses a virtual account number to act as the physical card. What’s more, if the phone is lost or stolen, consumers can use Google’s Find My Device to instantly lock the device, wipe it clean or create a new password.
“Interac Debit is one of the most popular payment methods in Canada,” said Chakib Bouda, CTO of the Rambus Payments Division, in the same press release. “Our collaboration on the TSP will allow millions of consumers to enjoy secure mobile payments using Android Pay in Canada.”
Debbie Gamble, vice president of digital product and platforms for Interac Association and Acxsys Corp., said the launch of Android Pay is another example of how the companies are working to speed up the growth of digital payments in Canada via secure, tokenized digital transactions.
“Such accomplishments are the result of innovative technologies and strong partnerships, including our collaboration with Rambus,” she said in the press release.