The 10-year agreement will boost TD’s position as a primary North American credit card provider and enhance the attractive premium travel segment of its card portfolio through a suite of co-branded Aeroplan credit cards.
Integrating Aeroplan’s leading loyalty platform with TD Canada Trust’s distribution network, the new cards will enhance TD’s line-up of existing credit cards, including travel cards, to meet various customer needs.
Based on the terms of the contract, the bank will make a $100m upfront payment and commit to minimum annual miles purchases for the first three years.
Both companies have also agreed to spend approximately around $140m on joint marketing to support the new cards and program features, during the first four years.
Starting from 2014, TD will launch a new suite of cards including include enhanced premium, premium and mid-market cards, along with a card for Canadian small business owners, as announced by Aimia.
As of 30 April 2013, TD had C$826bn in assets, and offers an array of financial services, including personal and commercial banking and wholesale banking, among others.
