The service is expected to be rolled out later this year, which will allow Canadian customers to use this payment capability at merchandise across Canada where contactless credit card payments are accepted, said the firm.
The new solution complements the guidelines, recently introduced by the Canadian Bankers Association for mobile payments in Canada, as well as those developed by respected international associations such as the GSM Association (GSMA), claims CIBC.
CIBC retail and business banking senior executive vice president David Williamson said, "By teaming with Rogers, CIBC clients will soon enjoy the convenience of paying at the checkout with their mobile device while enjoying the existing benefits of their CIBC credit card, including loyalty rewards."
Expressing his views with the collaboration with CIBC, Rogers Communications president of communications Rob Bruce said the firm had been laying the foundation for mobile commerce and the ecosystem is ready to give Canadians the convenience, security, and peace of mind they deserve.
The new service will provide full access to a client’s existing CIBC credit cards on their smartphone with out charging a penny on both Visa or MasterCard.
The solution will incorporate multiple layers of security and users will get the same fraud protection they do with their contactless credit card, and secure encryption technology will add to the layers of security already in place on credit card purchases.
According to the firm, the new CIBC mobile payments capability will be available on select BlackBerry smartphones on the Rogers wireless network.
