Ink may be Fading on Canadian Tire Money
For anyone who was born and raised in Canada, a very important part of our heritage was Canadian Tire money.
To the boys in my family, it was akin to me seeing the Simpsons-Sears Christmas Wishbook arriving in the fall. It meant dreams and hopes for the future, a promise of good things to come.
But, like everything else, this dream fades into today's reality of points, rewards and airmiles. The Canadian Tire money I do have just collects dust on top of the fridge, forgotten, until that particular spot has been next cleaned. Does anyone actually use it anymore?
Although their C.E.O. Stephen Wetmore, is quick to say "Canadian Tire money is an asset whose worth we haven't even begun to realize," us Canadians are wondering if it's becoming a thing of the past.
"We haven't made those decisions," Mike Arnett, president of Canadian Tire Retail, told reporters at a press conference, after Wetmore lobbed the question over to him. "People love the paper money, so I don't see it happening in the near term."
But, in a way, it is already happening. Holders of Canadian Tire's Options MasterCard earn their "money" electronically. The money is added and redeemed on the card. No paper changes hands.
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Saskatoon, Saskatoon, Canada