Canada billed as second market for Apple Pay

Canada tipped as second market for Apple Pay

20 APR 2015

Apple is in negotiations with Canadian banks about a launch of its payments service, according to The Wall Street Journal, although the suggested autumn debut would represent slow progress.

Apple Pay is only available in the US and there has been intense speculation about where the NFC-based service will land next. The UK, China and Australia are all viewed as possible venues, in addition to Canada.

However, if the North American neighbour gets the nod then it would represent slow rollout for a service that first launched in the US in October last year.

The company is in talks with Canada’s six largest banks about a potential November debut of the service which would enable both credit and debit cards to be used on iPhones and the Apple Watch for payments.

Talks appear bogged down as the Canadian banks quibble over the fees they would receive, as well as potential security vulnerabilities in the Apple system.

The slow pace in Canada reflects the issues reportedly experienced by Apple elsewhere. The company has to negotiate separately in each market with local financial partners, as well as ensure clearance from national regulators. Both have proved time-consuming processes.

The six Canadian banks are Royal Bank of Canada, Toronto-Dominion Bank, Bank of Nova Scotia, Bank of Montreal, Canadian Imperial Bank of Commerce and National Bank of Canada.


Richard Handford

Richard is the editor of Mobile World Live’s money channel and a contributor to the daily news service. He is an experienced technology and business journalist who previously worked as a freelancer for many publications over the last decade including...

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