Tim Hortons and CIBC launch Double Double Visa card
Loyalty card offers 1% back
GST holiday break: Is it good for Canada’s economy?
Economists share how the temporary tax cut and relief cheques may play into Canada’s growth picture.
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.
Share this article Share on Facebook Share on Twitter Share on Linkedin Share on Reddit Share on Email
Related Articles
MoneySense at the MoneyShow: ETFs & Investing Strategies
Here’s how to get your free ticket to attend the MoneyShow virtual expo.
Nvidia’s earnings: Blackwell AI chips play into (another) stock price rise
Nvidia beats earnings expectations as investors eye demand for Blackwell AI chips.
Bitcoin approaches USD$100,000 as post-election rally continues
The world’s biggest cryptocurrency topped USD$98,000 on Nov. 21. As it inches ever closer to six figures, investors wonder:...
Canada’s inflation rate increased to 2% in October
Canada’s inflation rate rose to 2% last month, up from 1.6% in September, but a December interest-rate cut is...
Inflation is on target in Canada, so why is food (and other stuff) still so expensive?
Why Canadians are still feeling the squeeze of high food costs, and what to do about it.
Deal or no deal: What to know before shopping Black Friday and Cyber Monday sales
If you’re one of the many Canadians looking for Black Friday and Cyber Monday discounts, here’s how to know...
Where are rent prices headed in Canada?
A new Desjardins report predicts rent inflation will slow in the next few years.
Couldn’t get Eras Tour tickets? Industry practices, lack of competition could be to blame
High demand has made it challenging to get tickets for Taylor Swift and other big artists in Canada, and...