Tuesday, July 29th17.5°C
21450
21953

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 TSX15445.22-9.82
S&P CDNX1019.852.41
DJIA16982.5922.02
Nasdaq4444.909-4.655
S&P 5001978.91+0.57
CDN Dollar0.9251-0.0009
Gold1310.00+6.70
Oil101.61-0.06
Lumber321.20-1.80
Natural Gas3.74-0.007

 
Okanagan Companies
Pacific Safety0.195+0.01
Knighthawk0.01-0.005
QHR Technologies Inc1.150.00
Cantex0.065-0.005
Anavex Life Sciences0.265-0.01
Metalex Ventures0.08+0.01
Russel Metals35.15-0.21
Copper Mountain Mining2.97+0.15
Colorado Resources0.225+0.015
ReliaBrand Inc0.10+0.019
Sunrise Resources Ltd0.02-0.03
Mission Ready Services0.19+0.01

 





FEATURED Property
1615901108-5155 Chute Lake Rd, Kelowna, BC
2 bedrooms 2 baths
$144,500
more details
image2image2image2
Click here to feature your property
Please wait... loading


Take charge of your debt

Photo: Thinkstock.comWays to reduce your Debt:Make a budget and get budget counselingA basic first step for debt reduction is to prepare a budget and plan your spending. Once you have a budget, you mu...


Geopolitical tensions rattle markets

The Big Picture Geopolitical tensions rattle markets The spectre of rising geopolitical tensions in Ukraine and Gaza cast a shadow over an otherwise positive week in the markets. News that a passenger...


Learn to delegate effectively

Photo: ContributedI have the pleasure of witnessing people delegate tasks quite often. Sometimes with tremendous success and sometimes with disastrous consequences. I have chaired a lot of committees...

_








Member of BC Press Council


22581