If you go to your local Tims you’ll be treated to decent coffee, donuts and a Cash only business. Except for a Pilot Program a few years ago Tim Hortons doesn’t except credit cards or Interac (bank cards.) Why? I’ve always believed that with the huge lines, inside and out, they don’t want people waiting around for the interac machines, which are slow – using a 2400 Baud modem and take about 45 seconds to complete a sale.Recently, Tim Hortons announced that they will be accepting MasterCards Quick Payment System & PayPass which automatically debits from ones account using RFID. This sounds like speed of transaction verification was the primary selling point.
MasterCard PayPass is ideal for traditional cash-heavy environments where speed is essential, and has led the way in bringing contactless technology to consumer categories where quick service is essential. There are nearly 13 million PayPass cards issued globally. The introduction of MasterCard acceptance at Tim Hortons will be supported by advertising and in-store signage and communications.
Since no one I know owns a Mastercard but everyone I know goes to Tim Hortons – this can only be a win for Mastercard to push the card in Canada. I bet this is a loss leader deal to grow the business. Should be coming to a Tim Hortons near you – if its not already there.Hat tip – SmartCanucks.ca.