Dexit

=Introduction=

toc Founded in 2003 by Ms. Renah Persofsky who used to work for [|Bank of Montreal]. Dexit is a small plastic tag like a key chain that you use to swipe and pay for small items. The way it works is that you pay a fee of $1.50 each time $100 is used via your Dexit account. Essentially Dexit is a form of electronic commerce and relies on its convenience factor more than anything. Dexit is widely accepted in over 350 retail locations in Toronto. =How this Works=

The tag contains a secure microchip, which corresponds to a unique customer account. When it is tapped on a Dexit terminal, the tag securely communicates with the terminal using radio frequency waves. The technology Dexit uses is called Radio Frequency Identification (RFID). Once the transaction is authenticated, the customer's account is charged for the amount of the purchase.

=Security=

=Advantages and Disadvantages=
 * you only can spend a maximum of $100 a day
 * only money transferred to your dexit account can be spent
 * No one can make purchases directly from your bank account using your tag.
 * Your Dexit account information is password protected.
 * There is no personal financial information stored on your Dexit tag.


 * Advantages:**
 * Easy to use for small purchase items eg: simply swipe and walk away
 * Very fast eg: no punching in numbers like a debit card, good for people with a fast lifestyle
 * Several refill options such as automatic cash refill, automatic credit-card refill, over-the-counter refill, and electronic bill payment refill
 * Disadvantages:**
 * Can't use for large purchases
 * Lack of security features such as no PIN to enter and no signature

=Current Merchant Support=

Dexit can only be used at participating stores, which have to set up the Dexit hardware. Currently, Dexit suffers from a lack of corperate ties, vying instead to target specific stores in most situations. This means that while the locations of some businesses listed below have Dexit support, most others won't. The single exception to this is [|Pizza Pizza], which has signed on with Dexit for all of their Greater Toronto Area locations. A list of the locations that do support Dexit, along with their addresses can be found [|here].

Major Supporting Stores
=Dexit - The Killer Application=
 * Eatons
 * Hudson's Bay Co.
 * Big Pita
 * The Croissant Tree
 * Dairy Queen
 * Ryerson University
 * George Brown College
 * Druxy's Deli
 * Edo Japan
 * Gateway Newstands
 * KFC
 * Mr. Sub
 * Pizza Pizza
 * Quiznos
 * Second Cup
 * Starbucks
 * Subway
 * Timothy's



More and more people in Toronto are flocking to use this innovational service. It has been described as "easier than cash and faster than debit." For those smaller transactions that people just don't want to wait in line for, Dexit provides a solution. Simply swipe your Dexit card through a terminal and the transaction is complete. The service is fairly appealing to city dwellers stressed for time and allows for a very fast and convenient service never seen before. "You just touch it and it's done," said Jamie Hughes of Druxy's Famous Deli. Therefore through this service people will use this application (for a fee), Dexit, which proves itself as a killer application.

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=External Links=

[|Cashless Payment System Targets Busy Lunch Crowd]

=References=

__Dexit__. 26 Feb. 2006 . Image**s** "Dexit," Dexit.com. <[|source]>**