20 October 2017
visit www.response.ncr.com

CIBC ditches NFC payments app

05 May 2017  |  6241 views  |  1 Dead end

Canadian Imperial Bank of Commerce (CIBC) has quietly pulled its SIM-based NFC mobile payments app from the Google Play Store, citing the popularity of alternatives from Samsung and Apple.

In a Canadian first, CIBC partnered telco Rogers to launch its NFC payments service for Blackberry handsets back in 2012, expanding to Android devices the following year.

However, it is now ceding the field to the tech giants. Last May it introduced support for Apple Pay and has also become, so far, the only one of Canada's big five banks to back Samsung Pay.

A spokesman told Mobile Syrup that the new options have "generated a strong, positive client response". This has led to the bank killing off its own app to "shift our focus on growing mobile payments in other areas".

KeywordsEFTPOS

Comments: (1)

A Finextra member
A Finextra member | 08 May, 2017, 12:58

Hats off to CIBC's bold move to stop wasting resources on a market unfounded hype just like Apple, Samsung et al Pay. Wish them success in finding their way towards solving client's painpoints!

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

CIBC teams with Borrowell to offer 'one-click' loans

CIBC teams with Borrowell to offer 'one-click' loans

27 October 2016  |  9866 views  |  0 comments | 6 tweets | 13 linkedin
CIBC makes digital push

CIBC makes digital push

09 October 2015  |  7273 views  |  0 comments | 15 tweets | 6 linkedin
MasterCard and CIBC join $70m Dynamics funding round

MasterCard and CIBC join $70m Dynamics funding round

08 December 2014  |  7332 views  |  0 comments | 6 tweets | 5 linkedin
CIBC teams with Telus on contactless mobile payments

CIBC teams with Telus on contactless mobile payments

04 February 2014  |  4294 views  |  0 comments | 5 tweets | 5 linkedin
CIBC Suretap comes to Android; Rogers gets nod for banking start-up

CIBC Suretap comes to Android; Rogers gets nod for banking start-up

10 May 2013  |  8045 views  |  0 comments | 5 tweets | 2 linkedin
CIBC and Rogers unveil mobile payments service

CIBC and Rogers unveil mobile payments service

02 November 2012  |  6746 views  |  1 comments | 5 tweets | 1 linkedin

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.innotribe.comvisit www.capgemini.comvisit www.vasco.com

Top topics

Most viewed Most shared
Ripple looks to drive bank adoption with $300m XRP rebate programmeRipple looks to drive bank adoption with $...
16002 views comments | 12 tweets | 4 linkedin
satelliteGates Foundation backs Ripple collaboratio...
8236 views comments | 13 tweets | 10 linkedin
HSBC partners Bud for open banking trialHSBC partners Bud for open banking trial
7309 views comments | 20 tweets | 25 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
7239 views comments | 9 tweets | 17 linkedin
Sibos 2017: API or the highwaySibos 2017: API or the highway
6520 views comments | 10 tweets | 21 linkedin

Featured job

Competitive base, double ote, benefits
London, UK

Find your next job