CIBC announces support of Suretap mobile payments app

The bank is first of Canada’s five biggest banks to join with major wireless carriers

By: Canadian Press
Source : The Canadian Press
June 23, 2015 June 23, 2015
11:00

The Canadian Imperial Bank of Commerce (TSX:CM) has joined Canada’s major wireless carriers in backing the Suretap mobile payments app.

Rogers (TSX:RCI.B), Bell (TSX:BCE), Telus (TSX:T), Koodo and Virgin are all offering the mobile wallet across a range of Android and BlackBerry phones.

CIBC says its customers will be able to use Suretap to add their Visa or MasterCard credit cards to their smartphones.

That makes CIBC the first of the five biggest Canadian banks to announce its support of Suretap.

CIBC was also the first of the major banks to announce that its customers can conduct mobile banking via the Apple Watch.

The Suretap wallet uses near field communication (NFC) technology to make payments with a smartphone.

CIBC also has its own mobile payments app, which allows customers to charge purchases of up to $100 to a credit card.

“Our partnership with Suretap gives our clients choice when it comes to paying with their smartphone and builds on our commitment to delivering the payments solutions that reflect where are our clients’ needs are today and where they are going in the future,” Todd Roberts, senior vice-president of cards and payments innovation at CIBC, said in a statement.