CIBC and Rogers Unveil the Future of Mobile Payments in Canada

 Announce plans to launch the first, secure mobile payment solution of its kind  to Canadians  TORONTO, May 15, 2012 /CNW/ - CIBC and Rogers Communications today announced  an agreement to launch Canada's first joint mobile payment solution, allowing  Canadians to pay with their CIBC credit card at the checkout counter using  their Rogers "Near Field Communications" (NFC) enabled smartphone. Beginning  later this year, customers will be able to use this payment capability at  merchants across Canada where contactless credit card payments are accepted.  This announcement represents the first time a bank and a wireless carrier have  joined forces to offer a commercially available mobile payments solution to  Canadians that leverages the secure SIM card inside an NFC-enabled Rogers  smartphone. This new solution aligns to guidelines announced yesterday by the  Canadian Bankers Association for mobile payments in Canada, as well as those  developed by respected international associations such as the GSM Association  (GSMA), the association of mobile operators and related companies dedicated to  standardizing and supporting GSM technology.  "As the leader in delivering mobile financial services innovations in Canada,  we are pleased to introduce yet another innovation in the market that will  shape the payments experience of the future," commented David Williamson,  Senior Executive Vice President, Retail and Business Banking, CIBC. "By  teaming with Rogers, CIBC clients will soon enjoy the convenience of paying at  the checkout with their mobile device while enjoying the existing benefits of  their CIBC credit card, including loyalty rewards."  "Canadians are embracing new technologies at an accelerated pace and we know  they're interested in using their smartphone for mobile payments," said Rob  Bruce, President of Communications, Rogers Communications. "We've been laying  the foundation for mobile commerce and the ecosystem is ready to give  Canadians the convenience, security, and peace of mind they deserve," said  Bruce. "Today's announcement with CIBC represents an important first step  toward a whole new world of mobile transactions which is a key growth area for  the company."  Some of the key features of the new mobile payments solution include:        --  Full access to a client's existing CIBC credit cards on their         smartphone at no extra cost - whether Visa or MasterCard - this         gives clients the opportunity to earn loyalty points on         purchases as they do today.     --  Multiple layers of security - Paying with your NFC-enabled         smartphone will be as secure as using your credit card today.         Clients will receive the same fraud protection they do with         their contactless credit card, and secure encryption technology         will add to the layers of security already in place on credit         card purchases. Clients will also have the option to set         additional password protection.     --  No "stickers" on your phone - this new payment capability will         leverage the secure SIM card inside a mobile device for         payments, meaning clients can manage their credit card         credentials on a secure platform, and won't need to worry about         stickers attached to their phone.  This new CIBC mobile payments capability will be available on select  BlackBerry® smartphones on the Rogers wireless network when the solution  launches later this year, with additional device choices for clients available  following launch.  MasterCard's Mobile Payments Readiness Index ranks Canada ahead of the United  States and second out of 34 countries. A key finding emphasizes that  partnerships among the key players in the mobile payments ecosystem -  financial institutions, payment networks, telcos, governments, technology  providers - are essential to accelerate the commercialization of mobile  payments.  Today's announcement builds on CIBC's leadership position in delivering mobile  innovations to clients. CIBC was the first bank in Canada to launch a mobile  banking App in 2010, and more recently became the first bank in Canada to  deliver an App that allows clients to trade stocks on their mobile device  through the CIBC Mobile Brokerage App. The bank also offers the CIBC Home  Advisor App, free to all Canadian homebuyers, giving them access to  information about housing prices and other key neighbourhood data in an area  they may be considering. CIBC was named "Best in Mobile Banking" globally by  Global Finance magazine in 2011.  In 2002, Rogers launched its GSM wireless network, and last year was the first  carrier in Canada to launch LTE, bringing the largest and fastest network and  a global wireless standard to Canada. Today's announcement builds on this  foundation of world-class networks, Rogers history of innovation and mobile  commerce expertise, specifically in the area of mobile proximity payments.  Over the past six years, Rogers has worked with the GSM Association, including  the "Pay-buy-Mobile" initiative to get industry standard payment cards - like  MasterCard or Visa - on industry standard GSM devices. In the past year, the  GSM Association further named Rogers as one of many operators worldwide  committed to SIM-based NFC solutions and services.  "The GSMA congratulate CIBC and Rogers on the launch of their mobile NFC  services and we look forward to many more markets following Canada's lead in  bringing exciting and interoperable NFC services to life," said Anne Bouverot,  Director General, GSMA. "This is the year when mobile NFC is set to take off  and the GSMA will continue to support our members around the world who will be  launching their mobile NFC services later this year."  CIBC (CM: TSX;NYSE) is a leading North American financial institution with  nearly 11 million personal banking and business clients. CIBC offers a full  range of products and services through its comprehensive electronic banking  network, branches and offices across Canada, and has offices in the United  States and around the world. You can find other news releases and information  about CIBC in our Press Centre on our corporate website at www.cibc.com.  Rogers Communications is a diversified Canadian communications and media  company. We are engaged in wireless voice and data communications services  through Wireless, Canada's largest wireless provider. Through Cable, we are  one of Canada's leading providers of cable television services as well as  high-speed Internet access and telephony services. Through Media, we are  engaged in radio and television broadcasting, televised shopping, magazines  and trade publications, and sports entertainment. We are publicly traded on  the Toronto Stock Exchange (TSX: RCI.A and RCI.B) and on the New York Stock  Exchange (NYSE: RCI). For further information about the Rogers group of  companies, please visit www.rogers.com.  The BlackBerry and RIM families of related marks, images and symbols are the  exclusive properties and trademarks of Research In Motion Limited  Kevin Dove, Head of External Communications, CIBC, 416-980-8835  orkevin.dove@cibc.com  Paula Lash, Director, Rogers Communications Inc. - 416-935-8796  orPaula.Lash@rci.rogers.com.  Image with caption: "CIBC and Rogers Unveil the Future of Mobile Payments in  Canada - David Williamson, Senior Executive Vice President and Group Head,  Retail & Business Banking, CIBC and Rob Bruce, President of Communications,  Rogers Communications showcase the first mobile payment solution, allowing  Canadians to pay with their CIBC credit card at the checkout counter using  their Rogers smartphone. (CNW Group/CIBC)". Image available at:   http://photos.newswire.ca/images/download/20120515_C7740_PHOTO_EN_13750.jpg  Image with caption: "CIBC and Rogers Unveil the Future of Mobile Payments in  Canada (CNW Group/CIBC)". Image available at:   http://photos.newswire.ca/images/download/20120515_C7740_PHOTO_EN_13731.jpg  Image with caption: "CIBC and Rogers Unveil the Future of Mobile Payments in  Canada (CNW Group/CIBC)". Image available at:   http://photos.newswire.ca/images/download/20120515_C7740_PHOTO_EN_13733.jpg  To view this news release in HTML formatting, please use the following URL:  http://www.newswire.ca/en/releases/archive/May2012/15/c7740.html  CO: Rogers Communications Inc. ST: Ontario NI: FIN ECOM NP   -0- May/15/2012 16:30 GMT    
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