New partnership allows more CIBC clients to pay with their
smartphone
TORONTO, June 23, 2015 /CNW/ - CIBC (TSX: CM)
(NYSE: CM) announced today that it is the first major Canadian bank
to participate in suretap, enabling CIBC clients to pay with their
smartphone by adding any one of its credit cards to the new suretap
open mobile wallet.
Beginning today, some of Canada's leading wireless carriers, Bell,
Rogers, TELUS, Koodo and Virgin, are offering the suretap wallet
across numerous Android and BlackBerry smartphones, with other
device platforms expected to follow by the end of 2015. CIBC is the
only major bank to make its credit cards available on suretap, a
mobile payment application that allows users to store a range of
payment cards on their mobile phones to pay for everyday purchases
anywhere contactless payments are accepted.
"We want to be where our clients are, and our involvement in
suretap reflects our commitment to delivering banking and payment
services that are easy, personalized and flexible," says
Todd Roberts, Senior Vice President,
Cards and Payments Innovation, CIBC. "CIBC is the leader in
innovation in banking, and this strategic partnership brings value
to our clients by making it easier to pay with their phone."
With the suretap open mobile wallet, consumers can store any
CIBC Visa or MasterCard credit card on eligible Android or
BlackBerry smartphones available from each of the major wireless
providers.
The state-of-the-art encryption technology together with a
secure, passcode protected app gives users peace of mind knowing
that their mobile payments are safe and reliable.
Suretap continues CIBC's track record for innovation and
partnerships
Participating in suretap speaks to CIBC's focus on partnerships
that add value for clients, and builds on the bank's track record
for innovation. CIBC launched Canada's first mobile banking app in 2010 and
a first of its kind mobile payments app in 2012.
"We are building our payment options not just for client needs
today, but for what Canadians will demand in the future," says Mr.
Roberts.
Canada was an early entrant in
the mobile payments space and offers a breadth, depth and quality
of payments services that is among the best in the world.
Suretap is changing the consumer experience. By allowing
Canadians to add more than one type of payment option onto a single
application and by making this application available on most
Android and BlackBerry smartphones offered through Canada's largest mobile carriers, CIBC sees
expanding mobile payments onto open wallets as a significant
opportunity to enhance the client experience and drive
growth.
About CIBC
CIBC is a leading Canadian-based global financial institution
with nearly 11 million personal banking and business clients.
Through our three major business units - Retail and Business
Banking, Wealth Management and Wholesale Banking - CIBC offers a
full range of products and services through its comprehensive
electronic banking network, branches and offices across
Canada with offices in
the United States and around the
world. You can find other news releases and information about CIBC
in our Media Centre on our corporate website at
www.cibc.com.
In May 2015, CIBC was one of two
banks to earn the highest overall score in the Forrester Research
2015 Canadian Mobile Banking Functionality Benchmark report. This
is the second consecutive year that CIBC has earned this award. In
January 2015, CIBC was recognized as
the best in online banking among the Big 5 banks in Canada by Forrester Research.
SOURCE CIBC