Apple Pay could see Canadian launch in November 2015

A new report claims that Apple is working to launch support for Apple Pay in Canada in November 2015, expanding beyond the US for the first time.

While it might be a longer wait than anyone would like, it appears that Canadian iPhone 6 and iPhone 6 Plus owners may be able to use Apple Pay by the end of 2015. A new report, from The Wall Street Journal, says that Apple is working with six major Canadian bank to enable support for Apple Pay in that country. According to The Wall Street Journal:

Lenders in discussions with Apple include Royal Bank of Canada,Toronto-Dominion Bank,Bank of Nova Scotia,Bank of Montreal,Canadian Imperial Bank of Commerce and National Bank of Canada, the people said. Together, those banks account for more than 90% of retail bank accounts, which could provide Apple with near ubiquity upon launch if final agreements are reached.

It’s not clear if all of these banks will agree to support Apple Pay. Indeed, the article claims the banks have some issues with Apple’s fee proposals:

It is also possible that Canadian banks could face higher costs than their U.S. counterparts, some of those people said. A base case for Canadian banks could be in the range of 15 to 25 basis points on credit card transactions to Apple, according to one of those people.

Apple Pay is currently supported by over 2,500 banks and 700,000 retail locations in the United States, and Apple has been looking to expand the service into other countries.

Check out how to use Apple Pay in our ultimate guide

Source: Wall Street Journal

Source: iMore

About Bhavesh Rabari

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