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We make calls on them, surf the internet and furiously post social media updates with them. In just a few years, smartphones have become indispensable lifestyle and business tools.  But many smartphone-loving Canadians have surely wondered: Why can’t I use my device at the cash register to pay for stuff? In fact, the “mobile wallet” is coming – and it’s poised to change the way we shop for everything from coffee to cat food.

In a Canadian mobile payment first, Rogers Communications and CIBC are teaming up to bring Near Field Communications (NFC)–enabled smartphones and app-based credit card services to the market this fall. Cutting-edge technology allows for a virtual version of your credit card to be securely downloaded to your smartphone’s SIM card. A chip embedded in the SIM card can wirelessly communicate with other phones or receivers, such as checkout terminals. You just download the CIBC Mobile Payment App to your NFC-enabled BlackBerry device (the first two will be the Bold 9900 and Curve 9360), then go to one of the thousands of stores across Canada and abroad that accept contactless credit-card payments.

Finished shopping and ready to pay? Simply take out your BlackBerry – your “mobile wallet” – and hold it near the checkout pay terminal. In a split second, you’ll have paid for your purchase with your CIBC credit card. And you’ll still earn the same loyalty benefits you currently enjoy with your CIBC credit card.

Don’t own a BlackBerry? Hold tight. This mobile wallet rollout begins with Rogers BlackBerry devices, but will soon expand to include a broader selection of smartphones.

This is no flash-in-the-pan innovation, either. A recent Pew Research Center study revealed that the majority of technology experts believe that mobile phones could replace cash and credit cards both online and in stores within the next decade. But does the mobile wallet really signal the end of cash? That sort of prediction may be premature, but Canadians who have a CIBC credit card, an eligible Rogers NFC–enabled smartphone and data plan will soon have numerous payment options. How we shop is about to change for the better, since the mobile wallet offers distinct advantages to consumers.

It’s secure and easy to track

If you’re like most consumers, you may be a bit skeptical about the security of a new technology that involves access to your credit cards. But there are a few reasons you can rest easy.

First, CIBC is one of Canada’s most trusted financial institutions for mobile banking, and has designed the app to leverage the same secure payment networks and systems used across the Canadian banking industry. The app also uses a special encryption process to protect against fraudulent use or unauthorized transactions, while including an optional personal passcode to lock it when not in use. Lastly, all mobile payments will be listed separately on your monthly CIBC credit-card statement to make spending easy to track.

Given its ease and security, we bet that after using your phone to pay for stuff for a couple of months, you’ll probably wonder how you ever managed to shop without your mobile wallet

No more fumbling for cash

Mobile wallets will make the days of fumbling to find cash or cards at a busy checkout a thing of the past. Paying will now be as simple as holding up your mobile phone to a contactless terminal. And because the mobile wallet uses credit-card accounts, you’ll never have to reload a card or use different pre-loaded cards at various retailers.

Concerned that you’re just not tech-savvy enough to get the mobile wallet set up? All it takes is an NFC-enabled BlackBerry device, an NFC SIM card and a quick download of the CIBC Mobile Payment App. Voila! You’re ready to use your mobile wallet and pay. No time, tech know-how or major effort required.

Click here to find out how-to set up your mobile wallet.

 

The CIBC Mobile Payment App will be available soon! For more information, visit cibc.com/mobilepayment


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24 thoughts on “Pay With Your Smartphone

pure leverage team build, on said:

We are a group of volunteers and starting a new scheme in our community.
Your web site provided us with valuable information to work on.
You’ve done a formidable job and our entire community will be grateful to you.

Reply

Harley, on said:

I am getting the Nokia Lumia 920 in a couple of days via Rogers. Will I be able to us the NFC in it for payments, or is it blackberry specific?

Reply

    @RogersNicolas, on said:

    Hi Harley,

    We are starting with CIBC to bring their mobile payment app to BlackBerry and we expect this app to be ready for Android and Windows Phone 8 in early 2013.

Michele, on said:

We also bank with TD, and really have no intention of taking any of my business to another bank, even to take advantage of this new app, so hopefully this will spread to the other banks soon.

Reply

    @RogersNicolas, on said:

    Hi,

    Our ultimate vision is to create an open wallet for our customers where they can store multiple cards from multiple banks and card issuers and we are focused on making that a reality in the next year.

Wayne, on said:

iphone 3g, 4 or 5 will not have this technology.

The iphones does not have the NFC thing.

A lot of Androids do, such as the Samsung Galaxy S3, it’s the same technology that you see in the commercials, where two cellphones touch and transfers data.

Reply

rene, on said:

I prefer technology where the credit card information in not anywhere in the phone itself.

Reply

Trevor West, on said:

Next they will have microchips embedded in our heads

Reply

christina, on said:

Sweet I am with cibc, now i just need to upgrade my old BB for the new version…Only concern is how many stores and restaurants actually will be accepting this method…

Reply

    Alex, on said:

    It’s the same technology as mastercards PayPass system (where you tap your card on the terminal and it pays instantly) except built into your phone instead.

Ed Smith, on said:

When is the rollout for iPhone?

Reply

    @RogersNicolas, on said:

    Hi Ed,

    We don’t have any info to share at that time but we’ll keep everyone posted.

Rob., on said:

This is welcome news indeed, but unfortunately i dont bank with CIBC. when will it come to TDCanTRUST?

Reply

    @RogersNicolas, on said:

    Hi,

    At that time, we’re proud to partner CIBC. We’ll keep you posted if there’s any news on that end.

Kevin, on said:

Like Bob, I bank with another, as does my entire family who also have 9900′s
When it comes to RBC, I’ll sign up.

Reply

Lesley, on said:

When will you be able to use your debit card to purchase items? Not everyone wants or has a credit card!

Reply

Sandy, on said:

Great idea… when will it work with my Torch 9810 and RBC?

Reply

Harvey, on said:

Sounds good, but unfortunately, I have an iPhone. I’ll be looking for a bank that offers the same service with iPhones.

Reply

Terry, on said:

I too bank with TDCANADATRUST. Hope it can happen soon.

Reply

Varghese Mathew, on said:

This is good news. Unfortunately I do not have a Blackberry, but I do have an iPhone 3G. Will this work on the iPhone? if I download the CIBC mobile payment app.?

Reply

    @RogersNicolas, on said:

    Unfortunately, no. At that time, it will only work with the following NFC-enabled BlackBerry devices: Bold 9900 and Curve 9360.

Bob, on said:

This is welcome news indeed, but unfortunately i dont bank with CIBC. when will it come to TDCanTRUST?

Reply

    @RogersNicolas, on said:

    Hi Bob,

    We don’t have any info to share on that end but we’ll keep everyone posted if there’s any news.

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