Canada joins the mobile payment world

Nov. 2, 2012

Rogers Communications and Canadian bank CIBC ushered in a new world of payments today. At an event at a Tim Hortons restaurant in Toronto, the companies formally introduced their new mobile payment scheme by having Canadian Olympian Simon Whitfield complete Canada's first ever mobile payment transaction, buying coffee at Tim Hortons, using the CIBC Mobile Payment App on a BlackBerry smartphone from Rogers.

"We're pleased to make history in mobile commerce in Canada by completing the country's first mobile credit card transaction," said David Williamson, Senior Executive Vice-President and Group Head, Retail and Business Banking, CIBC.

"Getting a coffee while you are on the go is just one example of the kind of transaction that's going to be made easier when you can pay in just seconds with a CIBC credit card on your smartphone, and we're excited about the possibilities this offers our clients," Williamson said.

The demo is the culmination of a partnership that was announced several months ago. Now the product will be rolled out to Rogers subscribers beginning November 16, 2012. The new CIBC Mobile Payment App will initially be available on two BlackBerry devices on the Rogers wireless network. It will use NFC SIM cards to store data securely and enable transactions.

The CIBC Mobile Payment App will be accepted at the tens of thousands of contactless terminals accepting Visa payWave and MasterCard PayPass transactions located not only in Canada but globally as well.

For more stories like this, visit the Contactless/NFC research center.

Topics: Carriers / Operators , Contactless / NFC , Mobile Payments , Region: Americas , Trends / Statistics

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