What type of security or fraud protection is there with the Interac Direct Payment system on TD Canada Trust POS terminals?
The customer’s personal identification number (PIN) serves to protect both the customer and the merchant. If someone other than the owner gets a hold of a debit card, purchases cannot be made without knowing the PIN. The POS terminal will only allow a pre-set number of attempts to enter the correct PIN before it rejects the transaction. Also, if the customer doesn’t have sufficient funds in his bank account to cover a purchase, the transaction will be rejected.
