Canadian Imperial Bank of Commerce has launched a mobile payment app that allows customers on the Telus phone network to make purchases at many Canadian retailers.
Canadians who have a credit card account with CIBC and a smartphone with Telus can now make mobile payments at coffee shops, grocery stores and other businesses, according to the companies joint Feb. 4 press release. CIBC has a similar partnership with telecommunications company Rogers Communications.
CIBCs mobile payment app is compatible with Samsung Galaxy and HTC One smartphones. Users with Blackberry phones on the Telus network will be able to use the app later this month. The phones must also have Near-Field Communications capability, which can be used to enable wireless payments.
"We are excited to be working with Telus to put the convenience of mobile payments into the hands of more Canadians and build on our industry-leading mobile payments offer," Todd Roberts, Senior Vice-President of Payments Strategy and Innovation at CIBC, says in the release. "Our clients have embraced mobile technology as part of their banking experience, and we believe 2014 will be a year of significant growth for mobile payments as more Canadians start reaching for their phone instead of their wallet at the checkout counter."