CIBC Poll: Smartphone growth surging as mobile payments set to arrive in the Canadian marketplace

CIBC Poll: Smartphone growth surging as mobile payments set to arrive in the 
Canadian marketplace 
Growing number of Canadians banking on the go with their mobile device 
TORONTO, Nov. 2, 2012 /CNW/ - A new CIBC (TSX: CM) (NYSE: CM) poll conducted 
by Harris/Decima shows that smartphone ownership and mobile banking usage 
continues to grow in Canada, and there is already strong interest in new 
services such as mobile payments, which will allow Canadians to make credit 
card purchases using their smartphone. 
Key poll findings include: 


    --  44 per cent of Canadians surveyed now own a smartphone, up from
        33 per cent in a similar Harris/Decima poll conducted for CIBC
        in 2011
    --  While younger Canadians between 18-24 years of age are more
        likely to own a smartphone (77 per cent), ownership numbers
        were strong in other demographics, including the bottom edge of
        baby boomers between 45-54 years of age (43 per cent)

Among smartphone owners:
    --  47 per cent of Canadians with smartphones would consider using
        it to make mobile payments to their credit card if they could
    --  36 per cent have used their smartphones for mobile banking, up
        from 25 per cent in 201
    --  51 per cent between 25-34 years of age said they would consider
        mobile payments
    --  48 per cent in the 45-54 age group said the same.
    --  59 per cent said rewards for credit card purchases are
        important to them in deciding to use mobile payments.

"Canadians are embracing smartphones as part of their everyday life, and 
increasingly they are using these devices to stay connected to their finances 
through services like mobile banking and emerging options such as mobile 
payments," commented David Williamson, Senior Executive Vice-President and 
Group Head, Retail and Business Banking, CIBC. "Having access to their bank 
accounts and credit cards through their mobile device gives Canadians a new 
level of convenience as part of their banking experience, and we see demand 
for these services continuing to grow."

Canadians with Smartphones Ready to Adopt Mobile Payments

As an increasing number of Canadians carry their smartphone with them 
everyday, there is a strong interest in using them to pay for everyday 
purchases on their credit card. Using their smartphone, Canadians will be able 
to securely access their credit card information and wave their smartphone at 
the checkout counter to pay, much like they do with their contactless credit 
card today.

"Canadians are ready to start paying for everyday items using their mobile 
device, but they want all of the benefits and rewards they've come to expect 
from their credit card," noted Mr. Williamson. "In bringing our mobile payment 
solution to market together with Rogers, we have focused on retaining these 
benefits while adding the convenience of having your credit card available 
through your smartphone."

In May 2012, CIBC and Rogers announced Canada's first agreement between a bank 
and a wireless carrier to offer a mobile payments solution to Canadians.

"Mobile payments are set to take off in Canada," said David Robinson, 
Vice-President of Emerging Business, Rogers Communications. "Today we are 
seeing firsthand how the experience is convenient, seamless and secure. By 
storing credit card credentials on a secure SIM card in NFC-enabled 
smartphones, together with CIBC we will be first to provide Canadians with a 
solution that is easy to use and provides peace of mind when making mobile 
payments."

National Results:

Results are based on a CIBC poll conducted by Harris/Decima, via teleVox, 
their telephone omnibus solution. These data were gathered in a sample of 
2,026 Canadians between July 12(th) and July 22(nd), 2012. A sample ofthis 
size has a national margin of error of +/-2.2%, 19 times out of 20.

Smartphone users:

Results are based on a CIBC poll conducted by Harris/Decima, via teleVox, 
their telephone omnibus solution. These data were gathered in a sample of 899 
Canadian Smartphone users between July 12(th) and July 22(nd), 2012. A sample 
ofthis size has a national margin of error of +/-3.3%, 19 times out of 20.

CIBC 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.

Sean Hamilton, Media Relations, CIBC, Tel: 
416-304-8456,sean.hamilton@cibc.com

SOURCE: CIBC

To view this news release in HTML formatting, please use the following URL: 
http://www.newswire.ca/en/releases/archive/November2012/02/c4375.html

CO: Canadian Imperial Bank of Commerce
ST: Ontario
NI: FIN ECOSURV 

-0- Nov/02/2012 10:00 GMT