A quick look at Canadian Tire money as 'Sandy McTire' goes digital

Canadian Tire "money" is pictured at a press conference in Toronto on Tuesday, September 9, 2014. (THE CANADIAN PRESS/Darren Calabrese)

TORONTO -- Some facts about Canadian Tire money and its new digital version:

-- Digital program will allow customers to collect and redeem Canadian Tire money through a card or an app. Launch is Oct. 10 in Nova Scotia; elsewhere in Canada on Oct. 28.

-- Paper bills to remain in circulation.

-- Canada Tire money introduced in 1958 and believed to be Canada's oldest loyalty program. Bills available in denominations of five, 10, 25 and 50 cents as well as $1 and $2 and allow consumers to use them toward eligible purchases.

-- The Scottish character Sandy McTire has appeared on the bills since 1961. They originally featured a happy tire and dollar sign, which was the Canadian Tire logo from 1926.

-- Customers have been known to bring in large quantities of the bills, sometimes in a suitcase, to purchase merchandise such as lawn mowers.

-- Bills have occasionally been accepted by other merchants as tender for payment.

-- Quote: "As Canada's oldest loyalty program, we know Canadian Tire money holds an extraordinary place in the hearts of Canadians," -- Allan MacDonald, chief operating officer after the digital rewards program was announced.