CIBC ditches NFC payments app

Canadian Imperial Bank of Commerce (CIBC) has quietly pulled its SIM-based NFC mobile payments app from the Google Play Store, citing the popularity of alternatives from Samsung and Apple.

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CIBC ditches NFC payments app

Editorial

This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community.

In a Canadian first, CIBC partnered telco Rogers to launch its NFC payments service for Blackberry handsets back in 2012, expanding to Android devices the following year.

However, it is now ceding the field to the tech giants. Last May it introduced support for Apple Pay and has also become, so far, the only one of Canada's big five banks to back Samsung Pay.

A spokesman told Mobile Syrup that the new options have "generated a strong, positive client response". This has led to the bank killing off its own app to "shift our focus on growing mobile payments in other areas".

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Comments: (1)

A Finextra member 

Hats off to CIBC's bold move to stop wasting resources on a market unfounded hype just like Apple, Samsung et al Pay. Wish them success in finding their way towards solving client's painpoints!

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