Canadians will now be able to conveniently pay for coffee, groceries and more
with the CIBC Mobile Payment App on their TELUS smartphone
TORONTO, Feb. 4, 2014 /CNW/ - CIBC (TSX: CM) (NYSE: CM) and TELUS today
announced the launch of the CIBC Mobile Payment App to TELUS mobile devices
with Near-Field Communications (NFC) capability, allowing more Canadians to
have access to mobile payments.
This announcement builds on CIBC's leading presence in the mobile payments
market among Canadian banks, and on TELUS' commitment to putting customers
first by offering a convenient and secure form of payment using mobile
technology. Beginning today, TELUS customers using the app and a CIBC credit
card account will be able to make mobile payments at many of the most popular
retailers in Canada including coffee shops and grocery stores.
"We are excited to be working with TELUS to put the convenience of mobile
payments into the hands of more Canadians and build on our industry-leading
mobile payments offer," said Todd Roberts, Senior Vice-President, Payments
Strategy and Innovation, CIBC. "Our clients have embraced mobile technology as
part of their banking experience, and we believe 2014 will be a year of
significant growth for mobile payments as more Canadians start reaching for
their phone instead of their wallet at the checkout counter."
Delivering mobile payments to customers positions both CIBC and TELUS to meet
the strong demand for this service today, while also establishing a strong
foundation to adapt to future developments in the market for mobile payments
"This partnership with CIBC offers TELUS customers simple but powerful new
ways to make everyday purchases," said Drazen Lalovic, vice-president of
market planning, TELUS. "Our customers have told us they want an easy-to-use
and secure way to pay using their mobile devices and today's announcement is
another step towards enhancing their mobile experience."
CIBC credit card clients using the following devices on the TELUS network will
be able to download the CIBC Mobile Payment App from Google Play beginning
-- Samsung Galaxy S4
-- Samsung Galaxy SIII
-- Samsung Galaxy Note II
-- HTC One
Users of the following BlackBerry devices on the TELUS network will have
access to the CIBC Mobile Payment App later this month:
-- BlackBerry Z10
-- BlackBerry Q10
-- BlackBerry Bold 9900
Mobile Payments are widely accepted
Credit card payments using the CIBC Mobile Payment App are already accepted at
thousands of the most popular retailers in Canada for purchases under $50,
using the same technology Canadians use today for contactless credit card
payments. According to MasterCard:
-- 19 of the top 25 merchants by volume accept contactless
-- There are now 250,000 contactless payment readers in Canada
Canadian smartphone owners say they want to pay with their phone for everyday
-- Of the 68 per cent of Canadians aged 18-44 who own a
smartphone, 46 per cent say they are interested in using a
smartphone to make everyday purchases
"Right from day one when we launched our first of its kind mobile payment app,
we heard from clients about how convenient it is, and about the positive
reactions from their friends and family when they've paid at the checkout
counter with their phone," added Mr. Roberts. "That's why we are excited about
today's announcement with TELUS, which represents a significant expansion in
the mobile payments market and brings this service to more Canadians in 2014."
NFC is an emerging technology that allows wireless devices to communicate by
being touched or waved past each other and securely exchange information such
as payment credentials.
In November 2012, CIBC became the first bank in Canada to complete a mobile
credit card transaction using an NFC-enabled smartphone, and today's
announcement means that CIBC is the only bank to offer a mobile payment app
with two major carriers in Canada, giving more Canadians the opportunity to
pay with their phone.
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.
TELUS (TSX: T) (NYSE: TU) is a leading national telecommunications company in
Canada, with $11.3 billion of annual revenue and 13.3 million customer
connections, including 7.8 million wireless subscribers, 3.3 million wireline
network access lines, 1.4 million Internet subscribers and 776,000 TELUS TV
customers. Led since 2000 by President and CEO, Darren Entwistle, TELUS
provides a wide range of communications products and services, including
wireless, data, Internet protocol (IP), voice, television, entertainment and
In support of our philosophy to give where we live, TELUS, our team members
and retirees have contributed more than $300 million to charitable and
not-for-profit organizations and volunteered 4.8 million hours of service to
local communities since 2000. Fourteen TELUS Community Boards lead TELUS'
local philanthropic initiatives. TELUS was honoured to be named the most
outstanding philanthropic corporation globally for 2010 by the Association of
Fundraising Professionals, becoming the first Canadian company to receive this
prestigious international recognition.
For more information about TELUS, please visit telus.com.
Kevin Dove, Head of External Communications at
416-980-8835,email@example.com Elisabeth Napolano, TELUS Media Relations,
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-0- Feb/04/2014 11:00 GMT
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