CIBC introduces new digital credit and debit card innovations

Latest features deliver benefits and convenience including added cash back rewards

TORONTO, Nov. 16, 2018 /CNW/ - CIBC (TSX: CM) (NYSE: CM) announced today new debit and credit card features to help clients get the most out of their daily purchases. 

Starting today, clients can get money back on top of any existing card rewards they already receive, while also gaining real-time access and detailed merchant information related to their credit card transactions through CIBC's award-winning digital channels.

The additional money back offer on debit or credit purchases is made possible through a new arrangement with Paymi, a leading Canadian card-linked shopper marketing program. To receive additional cash back rewards, clients can register eligible CIBC credit, debit and prepaid cards online or via the Paymi Mobile App and then shop in-store and online at participating retailers to collect money back on everyday purchases. There's no need to load offers or use coupon codes with Paymi and cash back rewards can be deposited anytime with Interac e-Transfer®. From now until June 1, 2019, CIBC clients who register with Paymi receive double the money back on purchases at participating retailers.

"CIBC is offering an enhanced experience for clients, putting money in their pockets with Paymi as well as introducing new digital enhancements for how they view their credit card transactions," says Jeff Smith, Vice-President, Client Loyalty Solutions and Partnerships, Cards, CIBC.

A digital banking first among Canada's big five

CIBC is also providing clients new, enriched information about their credit card purchases when viewing transactions online or in-app. A first for a major Canadian bank, CIBC clients can simply tap or click on a credit card transaction to see additional data including merchant name, category, contact information and location, to better help recognize their purchase.

"From the time a client makes their purchase or a return, they can easily view credit card transactions including detailed merchant information, offering greater convenience and peace of mind," adds Mr. Smith. "This is another key step in delivering digital innovation that allows clients to bank how they want."

CIBC clients can look forward to enhanced transaction data on their debit card in the coming year.

About CIBC
CIBC is a leading Canadian-based global financial institution with 11 million personal banking, business, public sector and institutional clients. Across Personal and Small Business Banking, Commercial Banking and Wealth Management, and Capital Markets businesses, CIBC offers a full range of advice, solutions and services through its leading digital banking network, and locations across Canada, in the United States and around the world. Ongoing news releases and more information about CIBC can be found at www.cibc.com/en/about-cibc/media-centre.html.

SOURCE CIBC