RE: RE: RE: RE: RE: RE: Q1 2013 - out another mont Here's the Rogers PR..apologies if its been posted already:
CIBC and Rogers Unveil the Future of Mobile Payments in Canada
Announce plans to launch the first, secure mobile payment solution of its kind to Canadians
TORONTO, May 15, 2012 /CNW/ - CIBC and Rogers Communications today announced an agreement 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. 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 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. 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.
MasterCard's Mobile Payments Readiness Index ranks Canada ahead of the United States and second out of 34 countries. A key finding emphasizes that partnerships among the key players in the mobile payments ecosystem - financial institutions, payment networks, telcos, governments, technology providers - are essential to accelerate the commercialization of mobile payments.
Today's announcement builds on CIBC's leadership position in delivering mobile innovations to clients. CIBC was the first bank in Canada to launch a mobile banking App in 2010, and more recently became the first bank in Canada to deliver an App that allows clients to trade stocks on their mobile device through the CIBC Mobile Brokerage App. The bank also offers the CIBC Home Advisor App, free to all Canadian homebuyers, giving them access to information about housing prices and other key neighbourhood data in an area they may be considering. CIBC was named "Best in Mobile Banking" globally by Global Finance magazine in 2011.
In 2002, Rogers launched its GSM wireless network, and last year was the first carrier in Canada to launch LTE, bringing the largest and fastest network and a global wireless standard to Canada. Today's announcement builds on this foundation of world-class networks, Rogers history of innovation and mobile commerce expertise, specifically in the area of mobile proximity payments. Over the past six years, Rogers has worked with the GSM Association, including the "Pay-buy-Mobile" initiative to get industry standard payment cards - like MasterCard or Visa - on industry standard GSM devices. In the past year, the GSM Association further named Rogers as one of many operators worldwide committed to SIM-based NFC solutions and services.
"The GSMA congratulate CIBC and Rogers on the launch of their mobile NFC services and we look forward to many more markets following Canada's lead in bringing exciting and interoperable NFC services to life," said Anne Bouverot, Director General, GSMA. "This is the year when mobile NFC is set to take off and the GSMA will continue to support our members around the world who will be launching their mobile NFC services later this year."
CIBC (CM: TSX;NYSE) 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.
Rogers Communications is a diversified Canadian communications and media company. We are engaged in wireless voice and data communications services through Wireless, 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 Media, 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.
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