TORONTO, Feb. 20, 2014 /CNW/ - Tim Hortons (TSX: THI) and CIBC (TSX:CM)
(NYSE:CM) today announced an agreement to launch a co-branded credit
card, which will offer instant Tim Hortons loyalty rewards to CIBC
clients on their everyday spending.
The new CIBC Visa credit card is scheduled to launch in May 2014, and
will allow cardholders to accumulate Tim Cash rewards for all purchases
made on the card. That Tim Cash can then be redeemed instantly using
the same card at participating Tim Hortons locations to purchase
coffee, baked goods, or any other Tim Hortons offerings.
"At Tim Hortons we're fortunate to have very loyal guests, many of whom
visit us every day. We feel that an innovative card such as this not
only provides our guests added convenience, but is a great loyalty
rewards solution offering instant redemption for their favourite Tim
Hortons menu items," explains David Clanachan, COO, Tim Hortons Inc.
"This new card complements our strategy to actively pursue further
technological innovation that help directly connect our guests with our
"We are excited to partner with Tim Hortons to bring this one of a kind
innovation to Canadians by combining the convenience of a CIBC credit
card with the ability to earn and redeem loyalty rewards from Tim
Hortons, all on a single card in their wallet," said David Williamson,
Senior Executive Vice-President and Group Head, Retail and Business
Banking, CIBC. "This partnership gives CIBC a meaningful channel to
attract new clients to CIBC, and allows us to deepen the relationships
we have with existing clients by further rewarding them for banking
With over 2 billion cups of coffee served annually at Tim Hortons, the
combination will benefit both regular Tim's guests and CIBC clients.
The new card will offer dual technology to combine two of the cards in
your wallet into one: it will function both as a CIBC Visa credit card
and a Tim Hortons loyalty card. Cardholders will earn 1% Tim Cash on
all CIBC Visa purchases made on the card, which they can redeem at Tim
Hortons locations using the same card.
Tim Hortons and CIBC have worked together on past innovations,
celebrating the first point-of-sale mobile credit card transaction
using the CIBC Mobile Payment App at a Tim Hortons location in November
As part of the May launch for the new co-branded card, CIBC and Tim
Hortons will launch a national marketing campaign to promote the
availability of the card to Canadians.
Be the first to know, visit CanadasNextBigThing.ca
Tim Hortons Inc. (TSX: THI) is one of the largest publicly-traded restaurant chains in North America
based on market capitalization, and the largest in Canada. Operating in
the quick service segment of the restaurant industry, Tim Hortons
appeals to a broad range of consumer tastes, with a menu that includes
premium coffee, hot and cold specialty drinks (including lattes,
cappuccinos and espresso shots), specialty teas and fruit smoothies,
fresh baked goods, grilled Panini and classic sandwiches, wraps, soups,
prepared foods and other food products. As of December 29, 2013, Tim
Hortons had 4,485 systemwide restaurants, including 3,588 in Canada,
859 in the United States and 38 in the Gulf Cooperation Council. More
information about the Company is available at www.timhortons.com.
CIBC (CM: TSX;NYSE) is a leading North American financial institution with nearly 11
million personal banking and business clients. CIBC offers a full range
of products and services through its comprehensive electronic banking
network, branches and offices across Canada, and has offices in the
United States and around the world. You can find other news releases
and information about CIBC in our Press Centre on our corporate website