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,firstname.lastname@example.org 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
CIBC Poll: Smartphone growth surging as mobile payments set to arrive in the Canadian marketplace
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