Canadian Tire reinforced its commitment to
providing the most secure and convenient payment options for its customers
when it announced, the completion of the rollout of new point-of-sale
terminals in Canadian Tire Retail stores across the country. With the rollout
now complete, Canadian Tire is the largest retailer in the country to complete
a national rollout, ensuring that the 475 stores in its network are chip card
compatible.
The most secure payment option in the credit card industry, chip card
technology uses a small computer processor chip with memory, logic and a
configuration of software applications, significantly enhancing security. The
chip holds information in an encrypted form and requires the use of a PIN
(personal identification number) to complete the payment process. Working
closely with MasterCard Canada and Moneris Solutions Corporation (“Moneris”),
Canadian Tire is the first Canadian retailer to rollout chip compatible
point-of-sale terminals across the country.
“Canadian Tire Financial Services continues to be focused on safeguarding
the security and enhancing the trust of our customers,” said Jim Kozack, vice
president, Canadian Tire Financial Services. “After successfully testing
chip-enabled Canadian Tire Options MasterCard credit cards in the Kitchener
market, we decided to roll-out the chip card payment platform nationally and
later this year will begin rollout of our new MasterCard chip cards across the
country.”
David Ades, senior vice-president at Moneris Solutions said, “We help
businesses like Canadian Tire by providing world-class payment solutions and
we are extremely pleased to have Canadian Tire as our first integrated chip
card merchant. The early adoption of chip card technology by a leading
Canadian retailer paves the roads for other merchants in their transition to
the new and more secure technology.”
“MasterCard Canada congratulates Canadian Tire on its pioneering
achievement as Canada migrates to chip,” said Oliver Manahan, vice president
Advanced Payments, MasterCard Canada. “Clearly, Canadian Tire saw the benefit
chip would bring to their operations, and vigorously executed to realize their
vision.”
