Dexit
Encyclopedia
Dexit is a rechargeable, contactless, stored-value smart key tag used for electronic payment in on-line or off-line systems in Toronto
, Canada
, since 2001.
Instead of coin
s or cards (and PIN), Dexit uses an RFID key tag device associated with funds transferred from ordinary bank accounts. There is no link to access the accounts from the key tag, a feature to guard against the abuse of lost key tags. Accounts can be filled up from the Dexit website, by telephone, at participating merchants, or through pre-approved bank account or credit card
balance transfers.
A partnership between small retailers, Dexit Inc., TD Canada Trust, National Bank of Canada
, Telus Mobility
, Bell Canada
in Toronto's downtown, and a few retailers in and around Toronto. There were plans to expand to the rest of Toronto in 2005; however, this does not appear to have occurred.
In the summer of 2006, Dexit announced a restructuring, and nearly all payment terminals have been removed from stores. Dexit is also offering refunds of all funds that have been stored on Dexit Tags.
Toronto
Toronto is the provincial capital of Ontario and the largest city in Canada. It is located in Southern Ontario on the northwestern shore of Lake Ontario. A relatively modern city, Toronto's history dates back to the late-18th century, when its land was first purchased by the British monarchy from...
, Canada
Canada
Canada is a North American country consisting of ten provinces and three territories. Located in the northern part of the continent, it extends from the Atlantic Ocean in the east to the Pacific Ocean in the west, and northward into the Arctic Ocean...
, since 2001.
Instead of coin
Coin
A coin is a piece of hard material that is standardized in weight, is produced in large quantities in order to facilitate trade, and primarily can be used as a legal tender token for commerce in the designated country, region, or territory....
s or cards (and PIN), Dexit uses an RFID key tag device associated with funds transferred from ordinary bank accounts. There is no link to access the accounts from the key tag, a feature to guard against the abuse of lost key tags. Accounts can be filled up from the Dexit website, by telephone, at participating merchants, or through pre-approved bank account or credit card
Credit card
A credit card is a small plastic card issued to users as a system of payment. It allows its holder to buy goods and services based on the holder's promise to pay for these goods and services...
balance transfers.
A partnership between small retailers, Dexit Inc., TD Canada Trust, National Bank of Canada
National Bank of Canada
National Bank of Canada is the 6th largest bank and 8th largest financial institution in Canada. The bank's headquarters are in Montreal, Quebec....
, Telus Mobility
Telus Mobility
Telus Mobility is a division of Telus Communications which sells wireless services in Canada on its numerous networks. They currently have three different networks based on three different technologies: CDMA and HSPA+ on its mainstream networks, plus iDEN via its Mike division...
, Bell Canada
Bell Canada
Bell Canada is a major Canadian telecommunications company. Including its subsidiaries such as Bell Aliant, Northwestel, Télébec, and NorthernTel, it is the incumbent local exchange carrier for telephone and DSL Internet services in most of Canada east of Manitoba and in the northern territories,...
in Toronto's downtown, and a few retailers in and around Toronto. There were plans to expand to the rest of Toronto in 2005; however, this does not appear to have occurred.
In the summer of 2006, Dexit announced a restructuring, and nearly all payment terminals have been removed from stores. Dexit is also offering refunds of all funds that have been stored on Dexit Tags.