Monday, October 5th9.7°C

Tim Hortons prepares credit card partnership with CIBC for launch this week

TORONTO - With the press of a button, Tim Hortons (TSX:THI) is hoping Canadians will warm to a new credit card partnership.

The coffee and doughnut chain has joined CIBC (TSX:CM) for the "Double Double Visa Card," which includes physical buttons built into the plastic.

Cardholders can press one of two options on the face of the card — a button that accesses their Visa account or another that lets users redeem loyalty points for products at the company's restaurants.

Each button has a coloured light that illuminates when the user activates one of the options on the card.

While credit cards with buttons aren't new, this is a first for Canada.

Previously, Citibank ran a pilot program in the U.S. which tested button technology with a select number of its clients. That card has since been discontinued.

The CIBC and Tim Hortons card allows users to earn points on purchases they charge to their no annual fee Visa card, collecting a cent on every dollar in Tims Cash rewards, the companies said.

CIBC launched the venture with Tim Hortons shortly after losing exclusivity for an Aeroplan-branded credit card. While CIBC still offers a card with Aeroplan, the loyalty points company has also launched a separate venture with TD Bank (TSX:TD).

The Tim Hortons-branded credit card is the first step in rolling out a loyalty program. The company has yet to announce when the full-fledged rewards program will debut.

The Tim Hortons credit card will be officially launched on Wednesday.

The Canadian Press

Read more Business News

Recent Trending

Today's Market
S&P TSX13530.95+191.21
S&P CDNX529.88+4.32
S&P 5001979.15+27.79
CDN Dollar0.7634+0.0032
Natural Gas2.473+0.022

Okanagan Companies
Pacific Safety0.215+0.000
QHR Technologies Inc1.21+0.02
Metalex Ventures0.06+0.00
Russel Metals22.30+0.82
Copper Mountain Mining0.49+0.07
Colorado Resources0.075-0.005
ReliaBrand Inc0.004-0.000
Sunrise Resources Ltd0.02+0.00
Mission Ready Services0.095+0.005
Decisive Dividend Corp3.55+0.06
Diamcor Mining0.90+0.02



2331327#116-4350 Eagles View
2 bedrooms 2 baths
more details
Click here to feature your property
Please wait... loading

Perfect (reno’d) home

Photo: Thinkstock.comHow many times have you found a home in the perfect location, but it needs too much work as per the home inspection? There is a great program available through most lenders that w...

Living beyond 100

Photo: ContributedThere was a time most careers involved an apprenticeship of one sort another. Some official, others involving years of servitude, and others time simply spent watching and emulating ...

5 Claim misconceptions

Photo: Thinkstock.comIf you have been hurt in an accident or as a result of medical negligence you will likely look to your friends and family for some advice on how to deal with the situation. These ...




Member of BC Press Council