Poll of Merchants with Credit/Debit Capabilities
Rates TD Ahead of the Curve in Satisfaction With Primary Acquirer
Data Reveals Higher Levels of Satisfaction Among TD Merchants in Areas Such as Accuracy of Information, Reliability of Equipment and Quality of Support
Toronto, ON - A poll of over 500 businesses that use debit and credit card transactions has placed TD ahead of the curve when it comes to rating the level of satisfaction that merchants have with their primary acquirer, according to a new Ipsos Reid poll conducted on behalf of TD.
In fact, eight in ten (78%) merchants who use TD as their primary acquirer indicate that they are very satisfied (score of 8, 9 or 10 on a scale of 1-10) with TD, significantly ahead of the market average of seven in ten (69%) who are satisfied with their primary acquirer.
Furthermore, TD outperforms the market in levels of satisfaction among those merchants for whom they are the primary acquirer when it comes to many attributes including:
- the accuracy of information of transactions reported to the merchant (90% TD vs. 77% market average),
- providing reliable equipment (86% TD vs. 69% market average),
- the quality of support in case of problems (76% TD vs. 69% market average),
- reputation in the market (73% TD vs. 64% market average),
- product support (73% TD vs. 62% market average),
- on-site technical support (61% TD vs. 50% market average),
- proximity to acquirer (60% TD vs. 45% market average),
- chargeback assistance (59% TD vs. 50% market average),
- providing training assistance and support (59% TD vs. 49% market average), and
- point of sale product information (57% TD vs. 49% market average).
Furthermore, TD merchants have a better understanding of chip and PIN cards, with 84% indicating that they have an understanding (21% detailed/63% general) compared to the market average among merchants of 71% (16% detailed/55% general), and they're more likely (56% TD vs. 42% market average) to say that they've already received information about the chip and PIN cards from their merchant.
These are some of the findings of an Ipsos Reid poll conducted between September 15 and November 5, 2009, on behalf of TD. For this survey, a national sample 556 merchants who accept debit and/or credit transactions was interviewed by phone. Weighting was then employed to balance business characteristics and ensure that the sample's composition reflects that of Canadian Merchants. A survey with an unweighted probability sample of this size and a 100% response rate would have an estimated margin of error of +/-4.2 percentage points 19 times out of 20 of what the results would have been had the entire population of Merchants in Canada been polled. All sample surveys and polls may be subject to other sources of error, including, but not limited to coverage error, and measurement error.
For more information on this news release, please contact:
Sean Simpson
Research Manager
Ipsos Reid Public Affairs
(416) 572-4474
[email protected]
About Ipsos Reid
Ipsos Reid is Canada's market intelligence leader, the country's leading provider of public opinion research, and research partner for loyalty and forecasting and modelling insights. With operations in eight cities, Ipsos Reid employs more than 600 research professionals and support staff in Canada. The company has the biggest network of telephone call centres in the country, as well as the largest pre-recruited household and online panels. Ipsos Reid's marketing research and public affairs practices offer the premier suite of research vehicles in Canada, all of which provide clients with actionable and relevant information. Staffed with seasoned research consultants with extensive industry-specific backgrounds, Ipsos Reid offers syndicated information or custom solutions across key sectors of the Canadian economy, including consumer packaged goods, financial services, automotive, retail, and technology & telecommunications. Ipsos Reid is an Ipsos company, a leading global survey-based market research group.
To learn more, please visit www.ipsos.ca .
About Ipsos
Ipsos is a leading global survey-based market research company, owned and managed by research professionals. Ipsos helps interpret, simulate, and anticipate the needs and responses of consumers, customers, and citizens around the world.
Member companies assess market potential and interpret market trends. They develop and build brands. They help clients build long-term relationships with their customers. They test advertising and study audience responses to various media. They measure public opinion around the globe. Ipsos member companies offer expertise in advertising, customer loyalty, marketing, media, and public affairs research, as well as forecasting, modeling, and consulting. Ipsos has a full line of custom, syndicated, omnibus, panel, and online research products and services, guided by industry experts and bolstered by advanced analytics and methodologies. The company was founded in 1975 and has been publicly traded since 1999. In 2008, Ipsos generated global revenues of e979.3 million.
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