Canadian Tire money going digital, print money will remain in circulation

Canadian Tire money is going digital, but for collectors across Canada the good news is, the iconic paper money will remain in circulation.

“As Canada’s oldest loyalty program, we know Canadian Tire ‘Money’ holds an extraordinary place in the hearts of Canadians,” said Allan MacDonald, chief operating officer, Canadian Tire.  “We’re building on it by introducing another way to reward loyal customers who prefer the ease and convenience of digital currency and rewards, further improving the Canadian Tire shopping experience and ultimately helping our customers tackle the jobs and joys of everyday life in Canada.”

The program will launch in Nova Scotia on Oct. 10 and to customers nationally on Oct. 28, 2014.

According to a release from Canadian Tire, “My Canadian Tire ‘Money’ combines the best attributes of Canadian Tire’s paper ‘Money’ with the benefits of a digital rewards program, making it easier and faster for customers to collect, and redeem. Members can collect e-Canadian Tire ‘Money’ on qualifying purchases at Canadian Tire stores, at canadiantire.ca and at participating Canadian Tire gas bar locations.  e-Canadian Tire ‘Money’ can also be redeemed for merchandise and gift cards or donated to Canadian Tire’s Jumpstart charity.  Customers can also collect and redeem e-Canadian Tire ‘Money’ on automotive services, a benefit to the updated program.

Canadian Tire's Carol Deacon, SVP of Loyalty and Digital, left, and COO Allan MacDonald unveil the new e-Money during a news conference held in a bank vault in Toronto.

Canadian Tire’s Carol Deacon, SVP of Loyalty and Digital, left, and COO Allan MacDonald unveil the new e-Money during a news conference held in a bank vault in Toronto.

“Meeting customer needs has always been at the heart of our innovation strategy, ensuring that everything we do has a positive end benefit for the consumer,” said MacDonald. “My Canadian Tire ‘Money’ will serve as a great complement to our existing data programs, allowing us over time to increase the relevancy of our messages, provide a more personalized and tailor made approach and ultimately better serve our customers.”

As part of the program, Members can collect e-Canadian Tire ‘Money’ when making payment by cash, debit and credit cards, providing enhanced value and convenience.  Importantly, e-Canadian Tire ‘Money’ has no expiry date and can be shared with other members by request.

To fully take advantage of the program’s benefits and features, customers are being encouraged to download Canadian Tire’s enhanced Mobile App.  The updated version, available for download at launch, allows users to collect, redeem and manage their e-Canadian Tire ‘Money’, view bonus offers, review  transactions,  and return products in-store without presenting a receipt.

There are Canadian Tire Money collector clubs located across Canada.

Canadian Tire ‘Money’ Highlights:

  • Canada’s oldest loyalty reward program.
  • Twenty one different series of ‘Money’ and many different versions have been introduced.
  • Made from authentic bank note paper with the same rag content and spot marks as paper currency – Canadian Tire ‘Money’ incorporates the latest anti-counterfeiting technology.
  • Canadian Tire ‘Money’ is available in denominations of 5¢, 10¢, 25¢, 50¢, $1 and $2.
  • Over $1 billion Canadian Tire ‘Money’ notes have been in circulation.
  • Through its loyalty programs, Canadian Tire awards more than $100 million dollars to customers every year.
  • Many communities collect and donate Canadian Tire ‘Money’ to support local fundraising efforts.

The History of Canadian Tire ‘Money’:

1958: Canadian Tire ‘Money’ introduced, pioneering the loyalty program concept. Conceived by Muriel Billes, wife of Canadian Tire’s co-founder, A.J. Billes, the coupons featured a happy tire and dollar sign running hand-in-hand, a Canadian Tire logo dating back to 1926.

1961: Sandy McTire character, designed by employee Bernie Freeman, introduced on Canadian Tire ‘Money’; still pictured today.

1961: Canadian Tire ‘Money’ extended to customers at Canadian Tire stores and printed on genuine bank note paper by the British American Bank Note Company.

2000: Canadian Tire ‘Money’ On The Card upgrades the loyalty program once again; Canadian Tire Options MasterCard customers earn Canadian Tire ‘Money’ On The Card electronically, anywhere MasterCard is accepted.

2010: Canadian Tire ‘Money’ launches a special series of three coins, manufactured by the Royal Canadian Mint, showcasing Canadian family winter moments.

2012: Canadian Tire introduces a new loyalty offering with Canadian Tire ‘Money’ Advantage, a customer rewards program that allows customers to collect points for purchases at Canadian Tire stores and gas bars that are redeemable for over 90,000 items in store – just like Canadian Tire ‘Money.’ The program is currently only available in Nova Scotia.

 

 

 

 

 

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