Canadian coffee chain Tim Hortons and Canadian Imperial Bank of Commerce ( CIBC) announced the launch of a co-branded credit card on 20 February.
The new CIBC Visa credit card will offer instant Tim Hortons loyalty rewards for all purchases made on the card and its launch is scheduled for May 2014.
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David Clanachan, chief operating officer at Tim Hortons Inc, said: "At Tim Hortons we’re fortunate to have very loyal guests, many of whom visit us every day.
"This new card complements our strategy to actively pursue further technological innovation that help directly connect our guests with our brand".
David Williamson, senior executive vice-president at CIBC said: "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 credit card in their wallet.
"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 us.
The cardholders will accumulate Tim Cash rewards for all purchases made on the card.
Rewards can then be redeemed using the same card at participating Tim Hortons locations to purchase coffee, baked goods, or any other Tim Hortons offerings.
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