CIBC stops supporting SIM-based NFC mobile payments in Canada

Canadian bank CIBC has decided to “stop supporting” its CIBC SIM-based NFC mobile payments service due to a “strong” and “positive” customer response to alternative mobile payment services such as Apple Pay and Samsung Pay.

CIBC The service was used to complete the first ever NFC mobile payment transaction in Canada which took place in partnership with mobile network operator Rogers at a Tim Hortons coffee shop in November 2012.

“Our recent launches of Apple Pay and Samsung Pay have generated a strong, positive client response,” the bank told NFC World.

“Based on those results and on client feedback on future mobile payments options, CIBC has decided to stop supporting the CIBC mobile payment app and to shift our focus on growing mobile payments in other areas. We see this as a growth market and we intend to lead for our clients in this area.”

CIBC added support for Apple Pay in May 2016, followed by support for Samsung Pay later in the year.

Next: Visit the NFCW Expo to find new suppliers and solutions