Apple Pay – Things to Know About the Mobile Payment System in Canada



If there is one thing that Apple Pay is trying to prove, it’s that it’s trying to make your wallet irrelevant. As of late, the service is gaining more and more allies, and the Cupertino, California-based tech firm plans on expanding the payment system to other regions in the future. On Wednesday, Scotiabank and TD went live with the payment system for their debit and credit cards. Furthermore, BMO stated that the system will now work with its debit cards as well. It was not until just recently that Canada could use Apple’s mobile payment service. It was only available to approximately 4-million American Express cardholders since October of last year.

Apple Pay – Things to Know About the Mobile Payment System in Canada

Apply Pay is Now Available in Canada

Now, Canadian Imperial Bank of Commerce and Royal Bank of Canada customers would be able to add their bank-issued debit and/or credit cards to the Apple Pay system. Customers from Canadian Tire Financial customers, as well as ATB Financial, can also add their credit cards to the service as well. Bank of Nova Scotia, Bank of Montreal, and TD Dominion bank are already reportedly to be just weeks away in joining the band. As for CIBC’s PC Financial sub-brand, it has apparently “no timing” when being asked when would they adapt the payment system.

At the time of writing, there are approximately 28.5-million adults with Interac debit cards that have been issued by several banks from Canada, as well as about 70-million credit cards. However, there are only about 38-percent of Canadian smartphone users that are using or own iPhones. Among them, only some are already Apple Pay ready. Also, when you take a guess from the current global trends, there is a significant number of those people who are supposedly ready for Apple’s payment system are likely to be already too old to use the service.

Moving forward, if you’re living in Canada, or have a debit or credit card that is issued from one of the aforementioned financial institutions, then you may be wondering what you can do with the Applle Pay service now that you can take advantage of it. First of all, if you already have an NFC-enabled debit or credit card, then you can take advantage of the service’s “Tap to Pay” feature. Also, as an added security feature, the payment system will only work for purchases under $100. If you’re paying for any item (or items) that have a higher price tag than that, then you would have to enter a separate PIN.


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Apple Pay – Things to Know About the Mobile Payment System in Canada
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