Olympian Simon Whitfield makes history by buying coffee with his Rogers BlackBerry - Photo by Gadjo C. SevillaCIBC and Rogers Communications are gearing up to launch Canada's first joint mobile payment solution, allowing Canadians to pay with their CIBC credit card at the checkout counter using their Rogers "Near Field Communications" (NFC) enabled smartphone. Customers will be able to use this payment capability at merchants across Canada where contactless credit card payments are accepted. The service launches today with Olympian Simon Whitfield.
according to Rogers, this represents the first time a bank and a wireless carrier have joined forces to offer a commercially available mobile payments solution to Canadians that leverages the secure SIM card inside an NFC-enabled Rogers smartphone. This new solution aligns to guidelines announced yesterday 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), the association of mobile operators and related companies dedicated to standardizing and supporting GSM technology.
"As the leader in delivering mobile financial services innovations in Canada, we are pleased to introduce yet another innovation in the market that will shape the payments experience of the future," commented David Williamson, Senior Executive Vice President, Retail and Business Banking, CIBC. "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."
"Canadians are embracing new technologies at an accelerated pace and we know they're interested in using their smartphone for mobile payments," said Rob Bruce, President of Communications, Rogers Communications. "We've been laying the foundation for mobile commerce and the ecosystem is ready to give Canadians the convenience, security, and peace of mind they deserve," said Bruce. "Today's announcement with CIBC represents an important first step toward a whole new world of mobile transactions which is a key growth area for the company."
Some of the key features of the new mobile payments solution include:
- Full access to a client's existing CIBC credit cards on their smartphone at no extra cost - whether Visa or MasterCard - this gives clients the opportunity to earn loyalty points on purchases as they do today.
- Multiple layers of security - Paying with your NFC-enabled smartphone will be as secure as using your credit card today. Clients will receive 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. Clients will also have the option to set additional password protection.
- No "stickers" on your phone - this new payment capability will leverage the secure SIM card inside a mobile device for payments, meaning clients can manage their credit card credentials on a secure platform, and won't need to worry about stickers attached to their phone.
This new CIBC mobile payments capability will be available on select BlackBerry® smartphones on the Rogers wireless network when the solution launches later this year, with additional device choices for clients available following launch.