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Canadian Imperial Bank of Commerce (CIBC), Toronto, is updating its electronic payment processing platform to handle Mondex smart card transactions.
This summer, CIBC plans to complete installation of an upgrade of Applied Communications Inc.'s (ACI) BASE24 application, which has been the $283 billion (Canadian) bank's main transaction processing platform for several years. The update will enable CIBC customers to use Mondex cards at ATMs, point-of-sale (POS) terminals, screen phones and other devices.
In tandem with Royal Bank of Canada, CIBC launched Mondex in February 1997 in Guelph, Ontario. For the chip card program, ACI created a custom code for CIBC's BASE24 processing environment, which enabled the bank's...