Instead of coins 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.
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