CIBC Receives Early Access to Samsung Pay in Canada

Mississauga, ON – Nov 8, 2016 – Samsung Electronics Canada Inc. today announced a partnership with CIBC to give its clients early access to Samsung Pay, a simple and convenient mobile payment service that works virtually anywhere you can tap or swipe your card¹. This partnership marks the first time Canadians will be able to use the service, following successful launches in South Korea, the United States, Puerto Rico, Australia, China, Singapore, Spain and Brazil.

“Samsung Canada and CIBC are both brands that value technology and innovation while enhancing the connected lives of Canadians,” said Paul Brannen, COO and Executive Vice President of Samsung Electronics Canada. “Global adoption rates of Samsung Pay are extremely positive and the service has already seen tremendous success, redefining the way consumers pay and use their smartphones. We are excited to be partnering with CIBC to bring Samsung Pay to Canadians.”

Samsung Pay has a strong alliance of partners and supports eligible credit and debit cards from more than 450 major global and regional banks. It is the most widely accepted mobile payment system and will be available for all CIBC VISA cardholders starting today², on compatible Samsung smartphones, including the Galaxy S7 and Galaxy S7 edge, Galaxy S6, Galaxy S6 edge, Galaxy S6 edge+, and Galaxy Note5.³ This is the first step in bringing Samsung Pay to Canada and part of a larger roll-out strategy.

“We are continuously working to deliver the best mobile banking experience for our clients through strategic partnerships and innovation that meet Canadians ever-evolving digital needs,” says Todd Roberts, SVP Innovation, CIBC. “We are proud to be the first in Canada to bring Samsung Pay to our clients, ensuring they have choice and convenience when it comes to mobile payments.”

Samsung Pay provides consumers with a seamless mobile payment solution that is designed for simplicity, security and convenience.

• Simplicity: To make a payment on Samsung Pay, users can simply swipe up, scan their fingerprint or input their four-digit PIN, and tap to pay.
• Security: Samsung Pay uses three different levels of security to enable secure payments - Fingerprint Authentication, tokenization and Samsung KNOX, Samsung’s defense-grade mobile security platform
• Convenience: Users can pay almost anywhere you can tap or swipe your card*.

Samsung Pay is now available for download for CIBC VISA Cardholders by accessing

www.samsung.com/ca/samsungpay/start-here and more information about Samsung Pay is available at

www.cibc.com/samsung-pay

For media information, please contact Lorena Cordoba, North Strategic

e. Lorena.cordoba@northstrategic.com  t. 416.820.8478

For CIBC related inquiries, please contact Olga Petrycki, Director Public Relations

e. olga.petrycki@cibc.com t. 416-306-9760

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About Samsung Electronics Canada, Inc.

Samsung Electronics Canada inspires the world and shapes the future with transformative ideas and technologies. The company is redefining the worlds of TVs, smartphones, wearable devices, tablets, digital appliances and printers. In 2015, Samsung was ranked one of the top 10 most influential brands in Canada, based on a study by Ipsos Reid. Committed to helping Canadians live connected and make a difference, its Samsung Hope for Children corporate giving program supports children's education, sustainability and health-related issues in communities across the country. To discover more, please visit http://www.samsung.com/ca.  

About Samsung Pay

Samsung Pay, a mobile payment service from Samsung Electronics, is simple, convenient and available almost anywhere you can tap or swipe your card*. Combining NFC with Samsung’s proprietary MST technologies, Samsung Pay provides consumers a way to pay almost anywhere you can tap or swipe a card at millions of merchant locations*. Samsung continues to strategically expand its partnership ecosystem for Samsung Pay to provide greater flexibility, access, and choice for customers while enabling an easy and convenient payment experience.  

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, branches 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.