CIBC and Rogers to launch mobile payments service in Canada

NFC technology payments

The Canadian Imperial Bank of Commerce (CIBC) and Rogers Communications have announced the launch of a joint mobile payments solution in Canada (view press release). The new venture will allow customers using ‘Near Field Communications’ (NFC) enabled smartphones to pay for small ticket items with CIBC credit cards at the checkout counter of participating retailers.

Initially, the new CIBC Mobile Payment App will be available on the BlackBerry Bold 9900 and BlackBerry Curve 9360, with NFC SIM cards available to order online. Android and Windows Phone 8 models will be introduced in 2013.

A recent CIBC-commissioned poll suggests smartphones are increasingly common in the country, owned by 44% of respondents, with a third of these using phones to conduct their banking. Although, more than half of smartphone users indicated that they would not make mobile payments regularly.

“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,” said David Williamson, group head, retail and business banking.

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