As client expectations for mobile banking and payment experiences grow, CIBC brings clients Apple Pay for Visa and MasterCard credit payments and Interac debit payments
TORONTO, May 10, 2016 /CNW/ - Beginning today, CIBC (TSX: CM) (NYSE: CM) is offering Apple Pay as another simple and secure payment option. CIBC clients can now add their Visa or MasterCard credit card, or Interac debit card, to Apple Pay on compatible Apple devices and start paying for everyday purchases with their phone wherever contactless payments are accepted.
"Delivering Apple Pay is all about our focus on meeting the changing needs of our clients," says David Williamson, Group Head, Retail and Business Banking, CIBC. "Being able to do more everyday banking through a mobile device is now essential to client experience, which is why we are focused on delivering innovations like Apple Pay to our clients."
Launching Apple Pay demonstrates CIBC's ongoing commitment to leveraging innovation to deepen client relationships. CIBC has already delivered a number of innovations for Apple users. For example, CIBC was the first major bank in Canada to deliver a mobile banking app for the Apple Watch, and in 2010 was the first bank to launch mobile banking in Canada with an iOS app.
"Innovation is more than new technology, it's about delivering a better experience for clients as part of their banking relationship, and we believe it is essential to building the bank that fits the lives of our clients," adds Mr. Williamson.
Apple Pay: a secure, easy way to pay
Apple Pay delivers a fast, secure way to pay for everyday purchases. When you add a CIBC credit or debit card to Apple Pay your information is not stored on the device, remains confidential and is not shared with merchants. Each transaction is authenticated quickly and securely with a one-time unique dynamic security code enabled by Touch ID or a passcode.
Canadians are ready to pay with their mobile devices
Mobile banking is the fastest growing banking channel at CIBC and Canada is a leader in smartphone usage with about two-thirds of Canadian wireless subscribers using smartphones according to a 2015 CRTC report. As Canadians turn to mobile channels for more of their everyday banking, banks that deliver on the rapidly growing demand for mobile banking and payments will be well positioned for deeper relationships and growth.
"Our goal is to be the best retail and business bank in Canada and number one in client experience, and leadership in mobile banking and payments will be essential to achieving that goal," adds Mr. Williamson.
Highlights of CIBC's launch of Apple Pay include:
- CIBC clients can use their Visa or MasterCard credit card, or Interac debit card, with compatible Apple devices anywhere contactless payments are accepted.
- Clients simply add their preferred CIBC credit or debit cards and continue to enjoy the rewards, benefits, and security provided by their card.
- With seamless Touch ID to authenticate users, Apple Pay offers an intuitive and secure payment experience for CIBC clients.
Consumers can add their CIBC credit or debit cards on Apple Pay in a few simple steps. Apple Pay works with iPhone 6s, iPhone 6s Plus, iPhone 6, iPhone 6 Plus, iPhone SE and Apple Watch.
The CIBC Mobile Banking app is a free download. For more information visit: https://www.cibc.com/ca/mobile/smartphone-app.html
For more information on Apple Pay, visit: http://www.apple.com/ca/apple-pay/
CIBC is a leading Canadian-based global financial institution with 11 million personal banking and business clients. Through our three major business units - Retail and Business Banking, Wealth Management and Capital Markets - CIBC offers a full range of products and services through its comprehensive electronic banking network, banking centres and offices across Canada with offices in the United States and around the world. Ongoing news releases and more information about CIBC can be found at www.cibc.com/ca/media-centre/ or by following on Twitter @CIBC, Facebook (www.facebook.com/CIBC) and Instagram @CIBCNow.
SOURCE CIBC - Corporate
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