BMO Widens the Gap Over Competitive Loyalty Reward Programs With Introduction of Interac Online Payment Service



    BMO Bank of Montreal has the only bank card that lets you earn reward
    miles when you make Interac online purchases

    TORONTO, Nov. 29 /CNW/ - BMO Bank of Montreal has just made holiday
shopping a whole lot easier, safer and more rewarding for millions of its
banking customers with news that it has added INTERAC Online payment services
to a growing array of convenient payment options.
    Starting today, BMO Bank of Montreal customers who make purchases over
the internet at participating retailers can have their purchases debited
directly from a BMO Bank of Montreal chequing or savings account that is
linked to their debit card for the purpose of making payments.
    INTERAC Online is secure and easy-to-use because it works with BMO's
existing online banking services. Since the transaction is conducted within
the customer's online bank account, no card number or other personal banking
information is shared with the online merchant and there is no need for any
new passwords to be memorized.
    The Interac Online payment option also means that the bank's debit
customers can add another convenient way to earn AIR MILES reward miles by
using their debit cards to pay for online purchases. "BMO is the only
financial institution that rewards debit purchases with AIR MILES reward
miles, which can be redeemed from a comprehensive choice of more than
800 redemption items," said Lynne Kilpatrick, Senior Vice-President, Personal
Banking, BMO Bank of Montreal.
    "The ability to pay for purchases directly from your bank account will be
welcome news for anyone who loves the speed and convenience of shopping
online," said Michel Chalifoux, Vice-President, Card & Retail Payment
Services. "The timing of our announcement is ideal. We're just beginning the
holiday shopping season and online shoppers are typically early-bird holiday
season shoppers because they know they have to leave enough time for shipping
and delivery," stated Mr. Chalifoux.
    "Shopping with Interac Online is exactly like shopping by debit. With the
Integration of Interac Online payments into our AIR MILES reward program, BMO
now has, unquestionably, the most complete rewards offering of any Canadian
bank. There really isn't another Canadian financial institution that can match
the level of choice and flexibility that we provide for earning rewards," said
Ms. Kilpatrick
    "If you're an AIR MILES Collector, and millions of Canadians are, this is
an ideal time and way to get a big bang out of your shopping dollar, because
now you can earn reward miles on practically every dollar you spend regardless
of how you pay, be it credit card, debit card or through Interac online," she
added.
    AIR MILES Collectors currently represent nine million active collector
accounts or approximately two-thirds of Canadian households. In June, when BMO
introduced a debit card component to its existing credit card reward program,
the bank stated its number one priority was to attract new customers and build
lasting relationships with them.
    Ms. Kilpatrick believes the Interac Online payment feature will attract
more Collectors to BMO. "Adding another payment option to a growing array of
options that help our customers earn AIR MILES reward miles faster further
strengthens BMO Bank of Montreal's appeal to the serious rewards collector and
solidifies our leadership position in the rewards market," she stated.
    By offering INTERAC Online to millions of BMO Bank of Montreal customers,
BMO continues to expand and enhance its suite of electronic products and
services to ensure its customers have the most innovative, secure, convenient
and user-friendly payment options at their disposal 24 hours a day.

    
    -   Interac Debit (with AIR MILES)
    -   BMO Mosaik MasterCard with choice of reward program (AIR MILES or
        CashBack).
    -   Prepaid Travel BMO Mosaik MasterCard
    -   BMO SPC Mosaik MasterCard
    -   For customers doing cross border or international shopping a BMO Bank
        of Montreal debit card is accepted at:
           -  Approximately 1.9MM Maestro-enabled point of sale terminals in
              the U.S. and 10.7MM terminals worldwide.
    -   Interac Email Money Transfer and Electronic Bill Payment
    

    About BMO Bank of Montreal

    BMO Bank of Montreal is a member of the BMO Financial Group of companies.
BMO Bank of Montreal's personal and commercial banking business is among the
five largest in Canada. Working together with BMO's other businesses, BMO Bank
of Montreal serves the financial needs of more than seven and a half million
Canadians, offering a full range of products and services through almost 1,000
BMO Bank of Montreal traditional and instore branches, telephone banking,
online banking at bmo.com, licensed insurance agents and the bank's network of
almost 2,000 automated banking machines (ABMs).




For further information:

For further information: BMO Bank of Montreal, Ralph Marranca, Toronto,
ralph.marranca@bmo.com, (416) 867-3996; Ronald Monet, Montreal,
ronald.monet@bmo.com, (514) 877-1873; Laurie Grant, Vancouver,
laurie.grant@bmo.com, (604) 665-7596; Internet: www.bmo.com

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BMO BANK OF MONTREAL

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