News Releases | Corporate

First and largest national restaurant to accept Interac Flash contactless debit technology

TORONTO, ON - (October 22, 2012) - Interac Association and Tim Hortons announced today that Tim Hortons will be the first and largest national restaurant in Canada to rollout Interac Flash across the country. Interac Flash, an enhancement of Interac® Debit, is Canada's first and only contactless debit technology. By holding their Interac Flash-enabled debit cards in front of a reader, guests can pay for their double-doubles quickly and conveniently inside Tim Hortons restaurants and at the drive-thru, using money from their bank accounts.

"The deployment of Interac Flash at Tim Hortons unites two iconic Canadian brands that strive to enhance the customer experience through innovation and value-added services," said Mark O'Connell, President and CEO, Interac Association and Acxsys Corporation. "Canadians coast-to-coast are now able to experience the security, speed and convenience of Interac Flash when paying for their coffee or other menu items."

Tim Hortons expects more than 2,300 restaurants across Canada will accept Interac Flash by the end of October, with more than 3,000 restaurants accepting the new payment method by the end of the year.

"Speed of service is important to Tim Hortons and to our guests and every second at the counter and in the drive-thru counts," said David Clanachan, Chief Operating Officer, Tim Hortons. "Bringing new payment options such as Interac Flash to our restaurants is just one way for us to continue to innovate, provide value and convenience to our guests."

Chase Paymentech, a subsidiary of JPMorgan Chase and a leading provider of payment processing and merchant acquiring, will process the payments.

About Interac Flash

Interac Flash gives cardholders the choice to pay for smaller value items using debit faster than ever before by simply holding their card at a contactless point-of-sale reader that supports Interac Flash.

Interac Flash uses EMVTM technology and the existing chip debit infrastructure, which protects it from fraud tactics such as copying and "electronic pick-pocketing". It offers strong consumer protections and unique security features, including the fact that the card never leaves the user's hand. Leveraging the trusted Interac brand, cardholders are also protected from unauthorized transactions under the Interac Zero Liability Policy* and merchants continue to receive the benefits of secure and non-refutable transactions associated with PIN-based Interac Debit.

Visit www.interacflash.ca for more information.

About Interac Association

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 Interac Cash at 60,000 Automated Banking Machines and Interac Debit at 766,000 point-of-sale terminals across Canada. Interac Flash, a secure contactless enhancement of Interac Debit allows Canadians to pay for items instantly with their Interac chip debit card at a reader that supports Interac Flash.
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 made directly from a bank account; Interac e-TransferTM, for the transfer of money from one person's bank account to another person's bank account using an email address or mobile phone number**; and international services, which provide Canadian cardholders with point-of-sale access at nearly 2 million U.S. retailers, and PULSE, Discover, Diners Club International and UnionPay cardholders access to ABMs in Canada.

About Tim Hortons Inc

Tim Hortons is one of the largest publicly-traded restaurant chains 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, espresso-based hot and cold specialty drinks including lattes, cappuccinos and espresso shots, specialty teas, fruit smoothies, home-style soups, fresh Panini and classic sandwiches, wraps, hot breakfast sandwiches and fresh baked goods, including our trademark donuts. As of July 1st, 2012, Tim Hortons had 4,071 systemwide restaurants, including 3,326 in Canada, 734 in the United States and 11 in the Gulf Cooperation Council. More information about the Company is available at www.timhortons.com

Media contacts:

Teri Murphy
Interac Association / Acxsys Corporation tmurphy@interac.ca
416-869-7171

Alexandra Cygal
Tim Hortons
Cygal_alexandra@timhortons.com
905-339-5960

Interac, the Interac logo, Interac Flash and Interac e-Transfer are trade-marks of Interac Inc. Used under license.
EMV is a trade-mark of EMVCo LLC.
* All Interac cardholders are protected from losses resulting from circumstances beyond their control under the Interac Zero Liability Policy. See your financial institution for details.

**The Interac e-Transfer service, for secure person-to-person payments, is currently available to customers of over 90 banks and credit unions including BMO Bank of Montreal, CIBC, President's Choice Financial, National Bank, RBC Royal Bank, Scotiabank and TD Canada Trust among others. Central 1, through participating credit unions, offers the option of using mobile phone numbers, in addition to email, to notify Interac e-Transfer recipients. Money never travels by email or text message. More information about the Interac e- Transfer service and a complete list of participating banks and credit unions can be found at www.interac.ca.