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CIBC and Telus in Canadian mobile payment app launch

Canada's CIBC has launched a mobile payments app for customers of Canadian telecoms company Telus who have NFC-enabled mobile devices.

Telus customers can use the CIBC app and a CIBC credit card account to make mobile payments at Canadian retail locations. The app can be downloaded from Google Play for use with Samsung Galaxy and HTC One devices. A Blackberry version of the app will be released later in February, CIBC said.

"Our clients have embraced mobile technology as part of their banking experience, and we believe 2014 will be a year of significant growth for mobile payments, as more Canadians start reaching for their phone instead of their wallet at the checkout counter," Todd Roberts, CIBC's senior vice-president for payments strategy and innovation, said in a statement.

Credit card payments using the CIBC Mobile Payment app are already accepted at many Canadian retailers for purchases under C$50 ($45).

In May 2012, CIBC joined forces with another Canadian telecom company, Rogers, to enable CIBC credit cardholders to make NFC payments with Rogers smartphones. The service uses NFC-enabled SIM cards stored on Rogers smartphones.

In November 2013, Rogers announced that it would issue its own credit card in both plastic and mobile versions, to be stored on Rogers smartphones.

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