From the iOS 5.34 release notes:
Introducing AC Wallet: Store refunds and credit balances directly in your Aeroplan account, making it easy to access a consolidated list of credits and transactions. You can use your AC Wallet balance for new bookings and travel option purchases in the app, and on aircanada.com. This feature will roll out over the coming weeks.
It's clearly not rolled out to me yet 😂
But... It's coming...