CIBC Tim Hortons Double Double Visa Card Recognized with Innovation Award

TORONTO, Oct. 27, 2014 /CNW/ - CIBC (TSX: CM) (NYSE: CM) announced today that the new CIBC Tim Hortons Double Double Visa Card was recognized with an IVIE award for payments innovation at the recent ACT Canada Annual Awards gala held in Toronto.

The award for Canadian Payments Benefiting Consumers was presented to CIBC for the innovative technology used in the dual-button card, and the benefits offered to clients through the Tim Hortons loyalty rewards earned on the card.

"We're delighted with the strong response from our clients and from Canadians to the new CIBC Tim Hortons Double Double Visa card," says Jenny Fagg, Executive Vice-President, Products & Payments, CIBC. "This award from ACT Canada speaks to our leadership in innovating for our clients to enhance their everyday banking experience."

"Tim Hortons is thrilled to continue to deliver creative and innovative payment solutions like the CIBC Tim Hortons Double Double Visa card that are both engaging and provide our valued guests with an opportunity to earn rewards for their loyalty," explains Glenn Hollis, Vice President, Brand Strategy, Marketing and Guest Experience, Tim Hortons.

The technology underpinning the new card leverages patented technologies developed by Dynamics.

Advanced Card Technology (ACT) Canada is a non-profit, internationally recognized organization focused on driving payments evolution in Canada. The IVIE awards are given to recipients who have made substantial advancements in payments.

This award adds to the recognition CIBC has received for our focus on innovations that benefit our clients, including awards from ACT Canada in 2013 for our leadership in mobile payments. Over the last year, CIBC has also received awards from Forrester for the best mobile banking offer among the Big 5, and from Global Finance for leadership in Online Banking.

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.

SOURCE: CIBC

For further information: Caroline Van Hasselt, Director, External Communications, 416-784-6699 or caroline.vanhasselt@cibc.com

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