Every Canadian who has been living here for at least a few years recognizes the iconic Canadian Tire paper currency. The original “Canadian Tire money program” launched in 1958 in five denominations, and has since found its way into consumers’ hearts and wallets, being referred to as “Canada’s monopoly money” and “second currency”.

On Tuesday September 9th, the company announced that it would be taking its currency to digital: customers can now collect rewards through its mobile app, or register for a card/key fob in-store. However, the traditional paper currency will still be accepted, and will not be discontinued on the new future.

This move will be highly beneficial for Canadian Tire. Expanding in the mobile space has become a necessity for many companies in order to stay relevant in their consumers’ minds. By tracking their loyalty program digitally, Canadian Tire will be able to extract and data-mine valuable insight and information about customers’ purchasing habits, preferences, and tailor their marketing and promotions accordingly for effective upselling. It is a win-win for both parties, as consumers will now receive suggestions and targeted promotional deals that are relevant to their interests.

Canadian Tire recognizes the importance of user testing, as they have spent the past two years piloting the program in Nova Scotia to test the program’s usability and design, and it has finally launched for the public. As a frequent customer, I am looking forward to trying out the new digital rewards program myself!