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1 December 2009
Neil Katkov
TD Canada Trust recently launched an interesting web site called Shop MyAXS. It is an online shopping site that can be accessed only by TD Visa cardholders. In order to purchase an item, the user must enter their TD Visa account number and create a username and password. The site claims to offer savings of up to 50% off brand names to eligible shoppers. TD appears to have signed up for a loyalty program with a firm called MyAXS. MyAXS offers the online shopping portal and passes along the discounts to members.


I find it curious that a bank would like to extend itself into the retail business. Granted consumer cards are used for retail purchases, but positioning the bank as a place to shop online is a completely different matter. The big question here is can TD encourage consumers to switch to a TD Visa by offering them shopping discounts? Even if customers do sign up for a TD Visa card, offering them a single deal or a handful of deals is not enough to encourage customers to alter their affiliations. Can it be used as a carrot? For sure. However, the features and rates of TD Bank's cards would have to be extremely compelling in order for customers to switch. In fact, I would argue that TD is more likely to attract one-off deal shoppers than a loyal contingent of converts. It is also a nice feature/perk for existing cardholders.

TD also promotes the MyAXS offering on its own web site, buried in a section called "Related Services.":



  • I could see this having a chance - especially if they tie it to points accumulated through debit card purchases and it is used as a loyalty mechanism. After all, you could argue that AmEx in the US has a brisk retail operation through their rewards website.

    I would think the biggest challenge would be to always have the best pricing on their products. It will be inteesting to see how this plays out.

  • Bank of America offers something similar to their customers, called the Add it Up program ( While the methodology of offering the services is different, it looks like all of them want to ensure that their cards are the first to be used.

  • Michael, Arun - thanks for your comments.

    Michael, the program does not seem to be tied to a loyalty program (other than what is already card-specific). That is a good point however, and would make more sense with this type of offering.

    Arun, I am familiar with that program. I blogged about it a little while ago here - . It looks like a very different take but I do agree with your point about each bank wanting to make sure their cards are at the top of the heap.

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