Apple Pay the mobile payment system welcomed the partnership of all five major Canadian banks. The mobile payment system allows customers to upload credit and debit card information to their smartphones and use it at stores and restaurants to make purchases of up to $100. Royal Bank and CIBC customers, as well as holders of Canadian Tire Bank and ATB Financial MasterCards, can now use Apple Pay.
TD Bank says it will be making the service available for Interac and Visa cards in the coming weeks. The Bank of Montreal and Scotiabank have indicated they will roll out Apple Pay in the coming months.
The system launched in the U.S. in 2014 and in Canada late last year, but hasn’t had much pickup because the big banks had been reluctant to sign up. Apple Pay used to only work with non-bank American Express cards, which are rare in Canada.
Apple Pay is available with the various iPhone 6 iterations and iPhone SE in compatible apps and stores. Apple Watch (paired with iPhone 5 or later) works in stores, and four different iPads (Pro, Air 2, mini 4, mini 3) work in apps only.
Processing payments firm Moneris said in a statement that twenty-five per cent of its transactions are through contactless cards or devices — a number that has doubled year over year. London Drugs, Tim Hortons, Canadian Tire, Petro-Canada, and Pizza Hut are among the stores ready for Apple Pay, according to Apple’s website.
Among the places where Apple Pay is “coming soon” include Air Canada, Pizza Pizza and the Toronto Transit Commission. Apps that accept Apple Pay include Delta, Groupon, Kickstarter, Ticketmaster and Starbucks. – CINEWS