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  • Apple Pay to Possibly Debut in Canada Later This Year


    According to The Wall Street Journal, Apple Pay will be debuting in Canada later this year, in November. The mobile payment system launched in the U.S. in October of last year and is slowly bringing more banks, credit card companies, retailers, and businesses on board with the idea. WSJ reported that there are currently six Canadian banks in talks with Apple regarding the launch for later this year. The banks in negotiations with the Cupertino-based company include TD Canada, Bank of Montreal, Scotiabank, Royal Bank of Canada, National Bank of Canada, and CIBC. WSJ noted,

    The banks are open to an agreement, but they aren’t happy with Apple’s fee proposals and are concerned about security vulnerabilities like the ones that U.S. banks experienced as they rolled out the service, the people said.
    Apparently the banks are not too happy with Apple’s reported fees and are concerned about possible security problems. It was also noted that the contactless payment terminals Apple Pay requires has already been equipped in businesses and retailers across Canada. Therefore, it won’t be too hard to set everything up so that businesses can use the mobile payment system. Canada uses contactless payment terminals already because they were one of the first ones to adopt Chip-and-PIN credit and debit cards payments.

    Source: The Wall Street Journal
    This article was originally published in forum thread: Apple Pay to Possibly Debut in Canada Later This Year started by Akshay Masand View original post