Apple Planning November Launch of Apple Pay in Canada
Apple is planning to launch Apple Pay in Canada later this year, according to The Wall Street Journal. The report, citing people familiar with the matter, claims Apple is in negotiations with six Canadian banks about a potential November launch of the mobile payments service, which debuted in the United States last October and has yet to become available in other countries.
The six Canadian banks reportedly in talks with Apple include the Royal Bank of Canada, TD Canada Trust, Scotiabank, Bank of Montreal, CIBC and National Bank of Canada. The financial institutions, which together account for more than 90% of Canadian bank accounts, are open to supporting Apple Pay in Canada, although have expressed concern about higher fees and potential security issues.
"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."
Canada is a well-prepared candidate to receive Apple Pay support, as many retailers and businesses across the country are already equipped with contactless payment terminals that are required for the iPhone-based mobile payments service. The country was one of the earlier adopters of Chip-and-PIN debit and credit cards that can be tapped against a payment terminal when making a purchase, and Apple Pay would be a natural extension of that functionality.
The six Canadian banks have reportedly formed a consortium and hired consultancy firm McKinsey & Co. to develop a security protocol for Apple Pay. The financial institutions have also considered the need for secondary authentication to verify customer information, such as entering a PIN, logging on to a mobile banking app or using a one-time passcode sent via text message before cards can be used on Apple Pay.
Apple announced last year that it is targeting international expansion of Apple Pay, and speculation has mainly been focused upon Canada, China and the United Kingdom. Apple's efforts to launch Apple Pay in China have faced some roadblocks, however, and Apple's talks to roll out Apple Pay in the United Kingdom during the first half of 2015 are similarly stalled as some banks are concerned about potential privacy issues.
Popular Stories
Apple is set to unveil iOS 18 during its WWDC keynote on June 10, so the software update is a little over six weeks away from being announced. Below, we recap rumored features and changes planned for the iPhone with iOS 18. iOS 18 will reportedly be the "biggest" update in the iPhone's history, with new ChatGPT-inspired generative AI features, a more customizable Home Screen, and much more....
Apple today released several open source large language models (LLMs) that are designed to run on-device rather than through cloud servers. Called OpenELM (Open-source Efficient Language Models), the LLMs are available on the Hugging Face Hub, a community for sharing AI code. As outlined in a white paper [PDF], there are eight total OpenELM models, four of which were pre-trained using the...
Apple has announced it will be holding a special event on Tuesday, May 7 at 7 a.m. Pacific Time (10 a.m. Eastern Time), with a live stream to be available on Apple.com and on YouTube as usual. The event invitation has a tagline of "Let Loose" and shows an artistic render of an Apple Pencil, suggesting that iPads will be a focus of the event. Subscribe to the MacRumors YouTube channel for more ...
Best Buy is discounting a collection of M3 MacBook Pro computers today, this time focusing on the 14-inch version of the laptop. Every deal in this sale requires you to have a My Best Buy Plus or Total membership, although non-members can still get solid second-best prices on these MacBook Pro models. Note: MacRumors is an affiliate partner with Best Buy. When you click a link and make a...
There are widespread reports of Apple users being locked out of their Apple ID overnight for no apparent reason, requiring a password reset before they can log in again. Users say the sudden inexplicable Apple ID sign-out is occurring across multiple devices. When they attempt to sign in again they are locked out of their account and asked to reset their password in order to regain access. ...
Apple used to regularly increase the base memory of its Macs up until 2011, the same year Tim Cook was appointed CEO, charts posted on Mastodon by David Schaub show. Earlier this year, Schaub generated two charts: One showing the base memory capacities of Apple's all-in-one Macs from 1984 onwards, and a second depicting Apple's consumer laptop base RAM from 1999 onwards. Both charts were...
Top Rated Comments
For example iTunes Radio in Canada, they likely have to go through CRTC and boy are they a bunch of *******s. I'm sure each country has its own organization that apple needs to negotiate with before launching services.
I'm sure Apple isn't against making profit by launching worldwide from the get go #
Why rightly so. The UK banks are money grabbing shysters!?
And the basis of the 'unnamed' bank argument is null and void as no data is collected by apple - "So when you go to a physical business and use Apple Pay, Apple doesnt know what you bought, where you bought it, or how much you paid for it. The transaction is between you, the merchant, and your bank."
And as for security. No other payment method is as secure. Period.
Also. Doesn't really have anything to do with the banks - If barclaycard or Visa implement it. and they will then that's that.
Still, must say that I am looking forward to this. I only hope the banks don't mess it up.
Indeed.
I still don't get why Apple didn't roll this out here first. Pretty much every single terminal I encounter on a daily basis has NFC built in unlike in the US.