CIBC Brings Industry-Leading Mobile Payment App to Three More Popular Devices

CIBC credit card holders and Rogers customers can now pay with their Samsung Galaxy S4, Galaxy Note II and HTC One smartphones

TORONTO, Jan. 22, 2014 /CNW/ - CIBC (TSX: CM) (NYSE: CM) today announced an expansion of the CIBC Mobile Payment app to the Galaxy Note II and HTC One smartphones on the Rogers wireless network, along with the recently added Samsung Galaxy S4 which can be used for payments today. These additions mean that more Canadians will start 2014 with the opportunity to pay for everyday purchases simply by using their smartphone at the checkout counter instead of reaching for their wallet.

"We're excited to be extending our CIBC Mobile Payment app to three devices that our clients have been asking for, allowing them to be part of the trend in 2014 towards paying with your phone," said Brenda Clark, Vice-President, Payments Innovation and Integration, CIBC. "This will be a year of growth for mobile payments in Canada, and we are excited to be building on our leadership position with more devices and more choices for Canadians."

In a December 2013 CIBC poll conducted by Harris/Decima, 56 per cent of Canadians said they carried their smartphone while shopping for the holidays.

"Smartphones are increasingly becoming part of the shopping experience for Canadians," said Ms. Clark. "A growing number of CIBC credit card holders have enjoyed the opportunity to be the first among their friends to have access to this innovation in payments."

The CIBC Mobile Payment App is now available on the following smartphones on the Rogers wireless network:

• Samsung Galaxy S4 & SIII
• Samsung Galaxy Note II
• HTC One
• Blackberry Z10 & Q10
• BlackBerry Bold 9900

The CIBC Mobile Payment app is already accepted at thousands of retailers across Canada for purchases under $50. Clients pay by activating the app and then simply holding their phone up to the contactless payment terminal. The CIBC app also offers a number of safeguards making it as secure as credit cards, including the same proven chip technology, optional user passwords, and encryption to securely store credit card information on SIM cards.

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.

SOURCE: CIBC

Kevin Dove, Head of External Communications at 416-980-8835, [email protected]