Visa Canada enters into new long-term agreements with Air Canada, TD and CIBC to be the network partner for Air Canada loyalty credit cards

Agreements are contingent on closing of Air Canada's definitive share purchase agreement with Aimia Inc. for the acquisition of Aimia Canada Inc.

TORONTO, Nov. 26, 2018 /CNW/ - Visa Canada announced today that it has entered into new long-term agreements with Air Canada, The Toronto-Dominion Bank ("TD") and Canadian Imperial Bank of Commerce ("CIBC") to be the network partner for credit cards issued under Air Canada's new loyalty program which is expected to launch in 2020. Visa Canada's agreements are subject to the closing of Air Canada's definitive share purchase agreement with Aimia Inc. with respect to the acquisition of Aimia Canada Inc. (the operator of the Aeroplan loyalty program).

"Visa Canada is pleased to be the partner of choice and continue our longstanding partnership with Air Canada, TD and CIBC as it relates to the new Air Canada loyalty program," said Stacey Madge, President and Country Manager, Visa Canada. "We believe the agreement between Air Canada and Aimia will provide continuity for Aeroplan members and allow consumers a seamless transition to Air Canada's new loyalty program."

The closing of Air Canada's acquisition of Aimia Canada Inc. remains subject to Aimia Inc. shareholder approval, and certain other conditions, including receipt of customary regulatory approvals. The closing of the acquisition is expected to occur in January 2019.

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Visa Inc. (NYSE: V) is the world's leader in digital payments. Our mission is to connect the world through the most innovative, reliable and secure payment network - enabling individuals, businesses and economies to thrive. Our advanced global processing network, VisaNet, provides secure and reliable payments around the world, and is capable of handling more than 65,000 transaction messages a second. The company's relentless focus on innovation is a catalyst for the rapid growth of connected commerce on any device, and a driving force behind the dream of a cashless future for everyone, everywhere. As the world moves from analog to digital, Visa is applying our brand, products, people, network and scale to reshape the future of commerce. For more information, visit visa.ca, visacorporate.tumblr.com and @VisaNewsCA.

SOURCE VISA Canada Corporation