CIBC credit card holders can now pay with their Samsung Galaxy S3 from
Rogers; poll shows strong growth potential for mobile payments in
TORONTO, May 9, 2013 /CNW/ - CIBC (TSX: CM) (NYSE: CM) today announced
an expansion of the CIBC Mobile Payments App to Android smartphones
from Rogers. This means that hundreds of thousands of Canadians will
now have the opportunity to start paying for everyday purchases using
The CIBC Mobile Payments App is now available for the Samsung Galaxy S3
smartphone and will expand to additional Android devices in the coming
weeks. The App can be downloaded from Google Play. Contactless Visa or
MasterCard credit card payments using the App are already accepted at
thousands of retailers in Canada for purchases under $50. The CIBC
Mobile Payments App offers a number of safeguards for clients making it
as secure as the credit card they use today, including proven bank chip
technology, optional user passwords, and encryption to store credit
card information in a secure component of the phone's SIM card.
"We are excited that more of our clients can now make everyday purchases
at their favourite retailer simply by holding their Android device up
to a contactless payment terminal," said David Williamson, Senior
Executive Vice President and Group Head, Retail and Business Banking
for CIBC. "Since launching mobile payments in 2012, the number one
question from our clients has been about when they can use the App on
their Android phones, which speaks to the importance of today's
In November 2012, CIBC became the first bank in Canada to complete a
mobile credit card transaction using an NFC enabled smartphone.
Majority of Canadians 45 and under own a smartphone, many interested in
A recent CIBC poll conducted by Harris/Decima found 68 per cent of Canadians between ages 18-44 say they own a smartphone and 46 per cent of these owners say they are interested in paying for everyday
purchases using their smartphone.
"To understand the potential for mobile payments, you just have to look
around at the number of Canadians who take their smartphone with them
everywhere they go," noted Mr. Williamson. "Whether it's walking by the
coffee shop on the way to work, or picking up a few items at the
grocery store, Canadians always have their smartphone within reach,
making it a convenient way to pay for everyday purchases.
"Giving Canadians the capability to bank on the go and make payments
with their phone is rapidly becoming an important part of their
relationship with their bank, and we will continue to invest in these
services going forward."
Mr. Williamson noted that CIBC expected to roll out the CIBC Mobile
Payments App to additional Android devices in the coming weeks, and
announce further expansion plans in the months ahead.
*Each week, Harris/Decima interviews just over 1000 Canadians through
teleVox, the company's national telephone omnibus survey. These data
were gathered in a sample of 2,004 Canadians between March 21- April 2
2013. A sample of this size has a National margin of error of +/-2.2%,
19 times out of 20
CIBC is a leading North American financial institution with nearly 11
million personal banking and business clients. CIBC offers a full range
of products and services through its comprehensive electronic banking
network, branches and offices across Canada, and has offices in the
United States and around the world. You can find other news releases
and information about CIBC in our Press Centre on our corporate website
For further information:
Kevin Dove, Head of External Communications at 416-980-8835, firstname.lastname@example.org.