Provider of tokenization software helps secure mobile payments for Interac debit card users

TodayRambus Inc. (NASDAQ: RMBS) announced that it is working with Google and Interac Association / Acxsys Corporation, the organizations behind Canada’s leading payment brand, to enable Interac^®Debit on Android Pay in Canada. Through the InteracToken Service Provider (TSP), which was developed in collaboration with Rambus, Interac debit cardholders can make secure mobile debit payments, now using Android Pay, through tokenized transactions.

“We’re excited to bring the simplicity and security of mobile payments to Interac Debit customers with Android Pay,” said PaliBhat, vice president of Payment Products, Google. “Starting today, people will be able to use their Android device to pay at hundreds of thousands of contactless payment terminals in Canada.”

Beyond ease of use, Android Pay is more secure because it doesn’t share credit or debit card numbers with the merchant when consumers pay in stores, but uses a virtual account number to represent the card. Additionally, if the phone is ever lost or stolen, consumers can simply use Google’s Find My Device feature to instantly lock the device, secure it with a new password, or wipe it clean of their personal information.

“Interac Debit is one of the most popular payment methods in Canada,” said ChakibBouda, CTO of the Rambus Payments Division. “Our collaboration on the TSP will allow millions of consumers to enjoy secure mobile payments using Android Pay in Canada.”

“We’re excited to bring InteracDebit on Android Pay to Canada,” said Debbie Gamble, VP, Digital Product and Platforms, Interac Association and Acxsys Corporation. “The launch of Android Pay is another example of how we are working to accelerate the growth of digital payment experiences in Canada through secure, tokenized digital debit transactions. Such accomplishments are the result of innovative technologies and strong partnerships, including our collaboration with Rambus.”

For more information on Rambus mobile payment solutions, visit rambus.com/mobile-payments.