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CIBC and Rogers complete the first mobile credit card transaction in Canada

November 2, 2012

News Releases

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Mobile payment launch marks the beginning of a new era in how Canadians
pay for everyday purchases

TORONTO, Nov. 2, 2012 /CNW/ – CIBC and Rogers today announced they have completed the first
point-of-sale mobile credit card transaction in Canada using the secure
SIM card inside an NFC-enabled smartphone. Simon Whitfield, Pan
American Games and Olympic medalist, performed the credit card
transaction, buying coffee at Tim Hortons using the CIBC Mobile
Payment™ App on a BlackBerry® smartphone from Rogers.

This new way to pay will be available to CIBC credit card clients using
a Rogers smartphone, allowing them to pay for coffee, groceries, and
other everyday purchases simply by holding their smartphone up to one
of the tens of thousands of contactless payment terminals at merchants
across Canada.

“We’re pleased to make history in mobile commerce in Canada by
completing the country’s first mobile credit card transaction,” said
David Williamson, Senior Executive Vice-President and Group Head,
Retail and Business Banking, CIBC. “Getting a coffee while you are on
the go is just one example of the kind of transaction that’s going to
be made easier when you can pay in just seconds with a CIBC credit card
on your smartphone, and we’re excited about the possibilities this
offers our clients.”

“Canadians are amongst the most connected consumers around the world,
and we have put Canada on the world stage today as a global leader in
mobile commerce,” said David Robinson, Vice President of Emerging
Business, Rogers Communications. “We are passionate about delivering
technology innovations and powering new mobile experiences for our
customers,” said Robinson. “Making the first mobile credit card payment
means that we are one step closer to allowing Canadians to store
everything they need, securely, in their smartphone.”

The new mobile payments capability from CIBC and Rogers means clients
will be able to pay with their CIBC credit card, whether Visa or
MasterCard, without retrieving the plastic card from their wallet or
purse. They can simply hold their Rogers BlackBerry® smartphone up to a
contactless payment terminal and the payment will be automatically
charged to their CIBC credit card. The CIBC Mobile Payment App will be
accepted at the tens of thousands of Visa payWave™ and MasterCard
PayPass™ contactless terminals across Canada and around the world.

As the rollout to clients begins, the new CIBC Mobile Payment App will
initially be available on two smartphones on the Rogers wireless
network – the BlackBerry® Bold™ 9900 and BlackBerry® Curve™9360,
beginning November 16th 2012. As of today, NFC SIM cards required to access the solution on
Rogers suretap™ ready devices can be ordered online. Additional
suretap-ready devices will support the solution in 2013, including
Android and Windows Phone 8 platforms, broadening the offer to more
Canadians.

The initiative brought to market by CIBC and Rogers 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 device. This new
solution aligns to guidelines announced earlier this year 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 and
Global Platform, a cross industry, not-for-profit association focused
on secure and interoperable deployment and management of embedded
applications on secure chip technology.

Canada is ready for mobile payments

This new mobile payment solution arrives in Canada at a time when
smartphone growth is accelerating among Canadians. A recent
Harris/Decima poll shows that 44 per cent of Canadians said they now own a smartphone, and within that group, 47 per cent said they are interested in using mobile payments.

“We’ve seen firsthand how quickly demand can build in other aspects of
mobile financial services such as mobile banking, and based on the
feedback from our clients we see mobile payments growing rapidly in
Canada in the coming years,” noted Mr. Williamson.

Forecasts for mobile commerce suggest that it will become a significant
method of payment in just the next few years. By 2016, Technology
Strategy International forecasts that almost 80 per cent of the
smartphones in Canada will be NFC-enabled, and IE Market Research
forecasts total mobile payments in Canada will reach $14.2B.

“In a few years, a mobile wallet will be as common as a camera on a
smartphone. The opportunity in mobile payments for our business is just
getting started – our vision is to take the millions of cards Canadians
carry today and to make them instantly accessible and secured on the
SIM card of a smartphone,” noted Robinson.

To learn more about the CIBC Mobile Payment App, visit www.cibc.com/mobilepayment

To learn more about Rogers suretapTM NFC services available from Rogers, and for information on upgrading
your SIM card or device, visit www.rogers.com/suretap

B-roll will be available following the event at this link:

http://cnw.pathfireondemand.com/viewpackage.action?packageid=654

About CIBC

CIBC is a leading North American financial institution with nearly 11
million personal banking and business clients. CIBC offers a full range
of products and services through its comprehensive electronic banking
network, branches and offices across Canada, and has offices in the
United States and around the world. You can find other news releases
and information about CIBC in our Press Centre on our corporate website
at www.cibc.com.

About Rogers

Rogers Communications is a diversified Canadian communications and media
company. We are engaged in wireless voice and data communications
services through Canada’s largest wireless provider. Through Cable, we
are one of Canada’s leading providers of cable television services as
well as high speed internet access and telephony services. Through our
media division, we are engaged in radio and television broadcasting,
televised shopping, magazines and trade publications, and sports
entertainment. We are publicly traded on the Toronto Stock Exchange
(TSX: RCI.A and RCI.B) and on the New York Stock Exchange (NYSE: RCI).
For further information about the Rogers group of companies, please
visit www.rogers.com.

The BlackBerry and RIM families of related marks, images and symbols are
the exclusive properties and trademarks of Research In Motion Limited.

Image with caption: “Simon Whitfield uses the CIBC Mobile Payment App to make the first SIM-based mobile payment in Canada, with David Robinson from Rogers, right and David Williamson from CIBC, centre. (CNW Group/CIBC)”. Image available at: http://photos.newswire.ca/images/download/20121102_C4501_PHOTO_EN_20102.jpg

SOURCE: CIBC