Rogers and CIBC announce Canadian mobile payments partnership
TORONTO-- CIBC and Rogers Communications will 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. Beginning later this year, customers will be able to use this payment capability at merchants across Canada where contactless credit card payments are accepted.
This new solution aligns to guidelines announced recently 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.
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.