TORONTO, Nov. 12, 2014 /CNW/ - CIBC (TSX: CM) (NYSE: CM) announced today that the innovative dual-button technology in its new CIBC Tim Hortons Double Double Visa Card was recognized with a SESAMES Award last week at the annual Cartes Convention in Paris.

Dynamics Inc. who pioneered the technology on the card, was awarded the Special Discovery Prize in recognition of the best innovation presented by a start-up company for the Open Loop/Closed Loop multi-network co-branded card, which can be used at any payments reader globally.

"We're pleased with the ongoing recognition our new CIBC Tim Hortons Double Double Visa card continues to receive at home in Canada, and now internationally," says Jenny Fagg, Executive Vice-President, Products & Payments, CIBC. "This award speaks to the importance of putting innovative payments solutions into the hands of our clients, and the impact innovation has on the client experience."

"We're thrilled that the CIBC Tim Hortons Double Double VISA card continues to earn such great international recognition. Our guests have been captivated by it," explains Glenn Hollis, Vice President Brand Strategy, Marketing and Guest Experience, Tim Hortons. "At Tim Hortons we're continuing to focus on delivering innovations and technologies that helps make our guests lives easier."

Cartes is an international conference devoted to smart cards and secure technologies for payment identification and mobility. The Special Discovery Prize is one of 11 awards bestowed annually to the top technological innovations in the payment sector.

The SESAMES Award adds to the recognition CIBC has earned recently for our focus on innovations that benefit our clients, including awards from ACT Canada for our leadership in payments innovation and in mobile payments. Over the last year, CIBC has also received recognition from Forrester for the best mobile banking offer among the Big 5, and from Global Finance for leadership in Online Banking.

About CIBC

CIBC is a leading Canadian-based global financial institution with nearly 11 million personal banking and business clients. Through our three major business units - Retail and Business Banking, Wealth Management and Wholesale Banking - CIBC offers a full range of products and services through its comprehensive electronic banking network, branches and offices across Canada with offices in the United States and around the world. You can find other news releases and information about CIBC in our Media Centre on our corporate website at www.cibc.com.

SOURCE CIBC