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Market Chatter: Tim Hortons Shutting Down Credit Card Program

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Restaurant Brands International (QSR.TO) unit Tim Hortons is shutting down the credit card program it launched three years ago, Canadian Press reports.

The company said in an emailed update to customers that the program, powered by Neo Financial, will shut down Oct. 1. The Tims Financial website said it is not applications at this time.

While the cards will still work after Oct. 1, they will be managed by Neo Financial and transactions will not earn Tims Rewards Points, the Canadian Press report said.

Restaurant Brand shares were last seen up $2.44, to $101.47, on the Toronto Stock Exchange.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: $101.64, Change: $+2.61, Percent Change: +2.64%

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