Tim Hortons’s credit card program with Neo Financial is shutting down, marking the end of two loyalty partnerships with major brands in just over a year for the Calgary fintech.

Tim Hortons spokesperson Michael Oliveira and Neo co-founder and chief commercial officer Jeff Adamson both confirmed they will discontinue the Tim’s Mastercard program on Oct. 1. In an interview, Adamson said the credit cards will continue to work. Users who previously managed their cards through the Tim Hortons app will move to Neo’s in-house platform instead, he said.

Adamson said Neo and Tim Hortons mutually agreed to end the program. “All these programs have timelines. These programs evolve, and this one ran its course,” he said. 

Co-branded credit cards with major retailers like Tim Hortons and Hudson’s Bay have been a crucial part of Neo’s business model since its founding in 2019. In March 2025, Hudson’s Bay paused its loyalty program after filing for creditor protection. Neo converted those cardholders to the fintech’s in-house cash-back rewards card.

Adamson said the Tim’s Mastercard program, which launched in 2023, represented a “relatively small” portion of Neo’s overall business. He added that users who moved from the Hudson’s Bay credit card to Neo’s in-house products spent more and engaged more with the platform. Adamson said he expects the end of the Tim Hortons partnership will also be good for Neo in the long run.

Asked why Tim Hortons is discontinuing the program, Oliveira said the company made the decision “as we focus on new ways to bring value to Canadians.”

Adamson said branded credit card loyalty partnerships are still an important part of Neo’s strategy, but they’re no longer its tent pole. “We’ve evolved and matured as a business from this being the core strategy because our direct-to-consumer business has really taken off,” he said.

Neo is officially launching four new direct-to-consumer rewards credit cards on Thursday to complement its existing gas and grocery rewards card. The new cards—two with an annual fee and two without—offer a choice of a higher rate of cash back on food, drink and shopping, or a lower cash back rate applied to every purchase.

In February, Neo announced a new credit card that earns points with United Airlines’ MileagePlus loyalty program, one of the largest in the world. Such partnerships help Neo attract customers that would be hard to acquire otherwise and build credibility for the fintech, Adamson said.

Editor’s note: Tim Hortons and Neo Financial mutually agreed to end their credit card partnership, Neo executive Jeff Adamson said. This story has been updated.