Friday, July 3rd31.6°C
26932
25017

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 TSX14682.39+44.40
S&P CDNX670.58-1.00
DJIA17730.11-27.80
Nasdaq5009.21-3.91
S&P 5002076.78-0.64
CDN Dollar0.7955-0.0018
Gold1167.10+4.10
Oil56.20-1.41
Lumber288.50+0.40
Natural Gas2.77-0.05

 
Okanagan Companies
Pacific Safety0.17+0.00
Knighthawk0.010.00
QHR Technologies Inc1.52-0.03
Cantex0.035-0.015
Anavex Life Sciences0.455+0.004
Metalex Ventures0.075+0.010
Russel Metals22.78-0.09
Copper Mountain Mining1.17+0.03
Colorado Resources0.09+0.03
ReliaBrand Inc0.006+0.000
Sunrise Resources Ltd0.04+0.01
Mission Ready Services0.165+0.005
Decisive Dividend Corporation3.00+0.50

 





FEATURED Property
22228221888 Capistrano Drive
4 bedrooms 3 baths
$949,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Active listening

Has this ever happened to you? You had an initial meeting with a prospect. You asked that prospect what seemed to be all the right questions. You had what felt to you like a good conversation, and bas...


The price of money

Money is not a commodity. By definition, a commodity is a generic product that is bought and sold on price alone. Money, Canadian bills for example, look the same, smell somewhat the same, and are ava...


TFSA strategies

Photo: Thinkstock.comThe federal government has increased the annual contribution limit of Tax-Free Savings Accounts (TFSA) to $10,000. Going forward, the annual limit will no longer be indexed to inf...

_








Member of BC Press Council


25831