First bank to offer all three leading mobile wallets for Canadians

TORONTO, May 31, 2017 /CNW/ - CIBC (TSX: CM) (NYSE: CM) announced today that it is the first Canadian financial institution to offer all three leading mobile wallets, as it teams up with Google to introduce Android Pay for all of its clients this coming Monday.

Offering Android Pay as another simple and secure payment option, CIBC clients can now use their Android phones to make everyday purchases wherever contactless payments are accepted, by adding their credit cards starting today, and debit cards on Monday.  

"With Android Pay our clients have another digital home for their CIBC credit and debit cards, allowing them to seamlessly tap and pay with their phones at retail locations across Canada," says Todd Roberts, Senior Vice President, Innovation, CIBC. "The convenient and secure payment option also offers an easy in-app payment function for clients to directly make purchases through their favourite retailer's app by simply selecting the Android Pay option at check out – this is the type of innovation our clients are looking for from their digital banking experience."

Available for download from the Google Play Store, Android Pay offers a fast, simple and secure way to use a card to buy things in apps or stores — all without pulling out a physical wallet. Your device can notify you of your transactions with Android Pay, which doesn't share your actual credit or debit card number with the merchant when you pay in-store. Additionally, if your phone is ever lost or stolen, you can simply use Find My Device to instantly lock your device from anywhere, secure it with a new password, or even wipe it clean of your personal information. Android Pay works with NFC-enabled Android devices and tablets running KitKat (4.4) or higher.

"We're excited to bring the simplicity and security of mobile payments to Android users in Canada," says Pali Bhat, VP of Product Payments, Google. "Starting today, Canadian shoppers will be able to use Android Pay at hundreds of thousands of contactless payment terminals across Canada."

For more information on Android Pay, visit: www.cibc.com/android-pay

About CIBC
CIBC is a leading Canadian-based global financial institution with 11 million personal banking and business clients. Through our three major business units - Retail and Business Banking, Wealth Management and Capital Markets - CIBC offers a full range of products and services through its comprehensive electronic banking network, banking centres and offices across Canada with offices in the United States and around the world. Ongoing news releases and more information about CIBC can be found at www.cibc.com/ca/media-centre/ or by following on Twitter @CIBC, Facebook (www.facebook.com/CIBC) and Instagram @CIBCNow.

SOURCE CIBC