CIBC has announced an expansion of the CIBC Mobile Payment app to the Galaxy Note II and HTC One smartphones on the Rogers wireless network this week, along with the recently added Samsung Galaxy S4 which can be used for payments today.
These additions mean that more Canadians will start 2014 with the opportunity to pay for everyday purchases simply by using their smartphone at the checkout counter instead of reaching for their wallet.
“We’re excited to be extending our CIBC Mobile Payment app to three devices that our clients have been asking for, allowing them to be part of the trend in 2014 towards paying with your phone,” said Brenda Clark, Vice-President, Payments Innovation and Integration, CIBC. “This will be a year of growth for mobile payments in Canada, and we are excited to be building on our leadership position with more devices and more choices for Canadians.”
In a December 2013 CIBC poll conducted by Harris/Decima, 56 per cent of Canadians said they carried their smartphone while shopping for the holidays.
“Smartphones are increasingly becoming part of the shopping experience for Canadians,” said Ms. Clark. “A growing number of CIBC credit card holders have enjoyed the opportunity to be the first among their friends to have access to this innovation in payments.”
Whitepapers
Related reading
Central banks best suited to issue digital currencies
By Aaran Fronda A recent report by the Official Monetary and Financial Institutions Forum (OMFIF) said that central banks rather than private ... read more
Instant payments: innovations inbound for corporates
In 2020, instant payments look set to continue their current trajectory to become the biggest trend in payments. While these schemes already offer numerous benefits to corporates, leveraging innovations such as APIs and request to pay will go some way to unlocking their full potential, argues Michael Knetsch
Obstacles exist for banks to meet ECB’s instant payments goal
The cost of joining instant payment platforms will be one of many hurdles banks and payment services providers must overcome to meet ... read more
Banks must be aware of “biases” in data used to train ML models
Financial institutions need to be conscious of biases in the historical data that is being used to train machine learning (ML) models, ... read more