Greenhouse Canada

Visa Canada launches its first debit card

October 26, 2010  By Amanda Ryder

Oct. 26, 2010 – Last week, Visa Canada announced the launch of the company's first debit cards in the Canadian marketplace.

Oct. 26, 2010 – Last week, Visa Canada announced the launch of the company's first debit cards in the Canadian marketplace.

is the first Canadian issuer to offer Visa Debit through its CIBC
Advantage Card, which will be available in branches beginning today. In
Canada, the CIBC Advantage Card will provide Canadian consumers with
the ability to shop widely online, by phone or mail and in more than
200 countries and territories around the world using funds directly
from their bank accounts.


"Visa has supported the adoption of
debit as a convenient and secure payment alternative for consumers and
businesses around the globe for more than 20 years, and we are pleased
to bring more choice and added benefits to Canadian consumers with the
introduction of Visa Debit," said Tim Wilson, head of Visa Canada.
"Visa Debit's expanded functionality enables consumers to shop online,
over the phone, in-store at millions of merchant locations
internationally, or to set-up recurring bill payments—with all the
security features and protections that come with using a Visa card."

cardholders will continue to be able to withdraw cash from automated
banking machines (ABMs) and purchase goods and services at a Canadian
merchant with funds directly from their bank account. At the register,
the CIBC Advantage Card will be processed through Interac®, Canada's
existing debit network.

Purchases made online, over the phone,
by mail or internationally will be processed over Visa's network and
will offer purchase protection with Visa's multiple layers of security

  • Visa Zero Liability Policy – Visa cardholders
    are not liable for unauthorized use of their card if their card is
    lost, stolen or if their card number is used fraudulently.
  • The
    Visa E-Promise – provides additional protection when using a Visa card
    to shop online, by mail, or by phone if the cardholder has tried, and
    has been unsuccessful, in resolving a dispute directly with the
  • Verified by Visa (VbV) – offers greater protection
    against unauthorized use of Visa cards online, by registering a
    password and shopping online at VbV enabled merchants.
  • Three-digit
    code (CVV2) – provides a crucial security feature on the back of Visa
    cards that helps merchants validate purchases made with Visa cards
    online and by phone.

All Visa Debit cards in Canada will also be chip-enabled, complementing Visa's migration to chip technology in Canada.

For more information on Visa Debit, go to

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