The bank and telecoms operator are to introduce a joint NFC service that will let CIBC credit cardholders make mobile payments with a Rogers NFC phone from “later this year”.
Canadian financial institution CIBC and telecoms operator Rogers Communications have announced plans to launch a joint NFC mobile payments service in Canada.
The service, due to launch “later this year”, will enable consumers to store multiple Visa and MasterCard CIBC credit cards on a SIM-based secure element in a Rogers NFC phone and use them to make payments at any merchant equipped with a contactless POS terminal.
The service will be available initially on “select BlackBerry smartphones on the Rogers wireless network”. Additional device choices for clients will be available “following launch”.
The move follows the release this week by the Canadian banking and credit union industry of a landmark Mobile Payments Reference Model which provides a detailed blueprint for how NFC mobile payments can be offered in Canada, how open mobile wallets will be and how consumer privacy will be assured. CIBC and Rogers’ service will meet the requirements of the bankers’ model, say the partners.
“This announcement 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,” they explain.
“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,” says CIBC’s David Williamson. “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,” adds Rogers Communications’ Rob Bruce. “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… 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.”
Next: Visit the NFCW Expo to find new suppliers and solutions