Mobile Commerce Insider Featured Article

June 20, 2014

CIBC Introduces Mobile Banking App for Bell Smartphones

If your mobile phone can manage your calls, calendar, business and pleasure, why shouldn’t it manage your money too? Mobile banking is starting to take off as an industry, and it looks like it’s finally touched down in Canada for its first appearance.

The Canadian Imperial Bank of Commerce (CIBC) is slated to launch their mobile payment app for Bell smartphones in the weeks ahead. The move will make them the first Canadian bank to offer mobile payments, and give Bell customers a wider mobile payment selection. Bell is Canada’s largest communication company, and its customers are ready to receive this new opportunity.

Canada already boasts well-developed wireless networks, a strong banking sector, and “more contactless sales terminals than almost any other country,” according to Wade Oosterman, president of Bell Mobility and chief brand officer. Oosterman said in a statement, “The addition of the CIBC Mobile Payment App offers Bell customers the most mobile payment choices available, and it's yet another way to take advantage of Bell's world-leading 4G mobile networks and smartphones.”

The mobile banking  app will protect information with multiple passcodes and safe information storage via smartphone SIM cards. The app will be available for free download in upcoming weeks from Google Play and BlackBerry World, and can be used on a number of Samsung, HTC and Blackberry devices.

“We believe 2014 will be a pivotal year for growth in mobile payments and we continue to invest in our leadership in this important market, including building strong relationships with wireless providers to make it easy for our clients to bank where, when, and how they like,” said Todd Roberts, senior VP of payment strategy and innovation at CIBC.

As mobile banking continues to expand, Canada will be reaping the rewards of this added mobile ability.

Edited by Stefania Viscusi

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