TD Bank Group has announced in a press release that it is the first Canadian financial institution to adopt Visa's global standard tokenization technology for its TD app for the Android operating system.

Powered by host card emulation, the tokenization technology provides TD customers with enhanced security by substituting sensitive account information with encrypted "tokens" during mobile payment transactions. An additional benefit of moving to the new solution is that it provides a more seamless experience, allowing users to set up and begin using mobile payments in a matter of seconds.

"We continually look for opportunities to elevate the digital experience for our customers," said Rizwan Khalfan, chief digital officer for TD. "The adoption of Visa's tokenization solution allows us to deliver a faster, simpler, and more accessible mobile payments experience, backed by a secure technology developed by a global leader in payments."

TD said the move to tokenization means that the service is not SIM card or carrier dependent and can be used on more phones and by more TD customers. All that is required is a personal TD credit card loaded on an Android phone running on Kit Kat (version 4.4) or higher.

An Android widget is also available for the first time to allow \one-button access to launch mobile payments within the TD app.