Rogers, CIBC new mobile payment system "first step in the journey towards the mobile wallet"

By Lesley Hunter

TORONTO – There could soon be a little less plastic stored in the wallets of Rogers’ smart phone customers after the wireless carrier confirmed Tuesday that it is teaming up with Canadian Imperial Bank of Commerce (CIBC) on a new mobile payment system. Beginning later this year, Canadians with CIBC credit cards can opt to pay using their Rogers near field communications-enabled (NFC) smart phone at merchants where contactless credit card payments are accepted. The system, the first practical application of Monday’s new mobile payment guidelines, accesses a customers’ credit card information, whether Visa or MasterCard, which has been stored on their...