Apple Pay Launching in Canada With American Express on November 17

I really don't see Apple Pay gaining any traction in Canada. Although I have an iPhone 6, I would still prefer to make purchases by tapping my credit card. It's much faster, easier/lighter to carry in my pocket, and no chance of a fingerprint misread. I suspect there's little to no market demand for this service, which likely explains why the Canadian banks aren't budging in negotiations.

There is a simple huge security difference. If someone gets hold of your tap card, they can use it. If someone gets hold of your iPhone or Apple Watch, they can't use it - without your finger. Plain and simple.

I prefer leaving my wallet in my pants pocket, and either (a) use my watch - it's right there on my wrist all the time, or (b) use my iPhone which is always handy in my shirt pocket.

Having used ApplePay since day one in the US and Canada, I can state that I have never had a "fingerprint misread". None. It's a non-issue.

Pre-ApplePay I had a number of tap cards. Now I only have one, infrequently used, non-ApplePay NFC card left.

I know it is not often mentioned but one additional advantage of American Express when merged with Apple Pay and the Amex App is that your iPhone can be notified (push) for each and every charge made regardless of how the charge was made. Recurring payments, online charges, ApplePay charges, literally any charges. It is the best fraud protection bar none.

Apple P'eh is here! :D Woot Woot!

Until I can use my Visa card w/ apple pay on my iPhone in Canada. It's not here yet.

Can someone explain why Apple Pay can't just be a solution that works anywhere where contactless nfc payments are accepted other than wanting to be in control of the process? Not being snide or a "hater", asking seriously.

I heard something like $1 for every $100 spent. I've read some where that apple's cut into the processing fee was too much for the banks to deal with as it would cut into their profits

The banks make most of their profits from the transaction fees that merchants pay when you use debit/credit. Since Apple acts as a messenger here, they want to take a cut from that fee and the banks don't like that because that means they wouldn't make as much money. It has nothing to do with lack of tech (most places have had the tech for a while)

As most credit cards companies in Canada use NFC in there cards, other than security (which would reduce costs for the CC companies), what does Apple bring to the table for them? Yes convenience for customers but banks don't care about that too much.

I wonder if the reduction in profit is offset by the reduced costs of fraud. If I lose my credit card with tap, anyone could use it and that must happen lots.

I think they need cooperation from the banks as it is their merchant terminals that are used in each store. The banks in Australia and Apple cannot come to an agreement on interchange fees.

Apple Pay is the first implementation of a new EMV tokenization standard. Short version: when you add your card to your Wallet, your iPhone contacts a server operated by the card issuer and eventually your bank, to validate your card is valid and create an alias (the "device account number" or DAN). Both your bank and your iPhone remember the DAN. Apple is briefly involved in this process.

When you use Apple Pay, the merchant's terminal only receives the DAN. It submits that, along with some other encrypted fields. Your bank must then map the DAN to your account, validate the other fields, and then decide whether to authorize the transaction. This is why NFC doesn't "just work": your iPhone doesn't have your true account number, and the bank must build a new back-end systems to do the mapping. Also, Apple is not involved in the transaction at all -- only the initial step to add the card to your Wallet.

Among the other fields in your transaction is a sequence number that is unique to the transaction. There's also a merchant ID, and a cryptographic signature. So, even if someone were to capture your DAN, they can't use it to commit fraud. They can't even "replay" the transaction a second time to double-bill you. This is the additional security that Apple Pay provides for the bank.

Your iPhone looks like a contactless card to the merchant terminal, so there should be no changes required at the merchant if they already support NFC. However, there have been some issues with some transaction processors corrupting the data in transit, requiring updated software and hardware. But others have had no problem.

In the US, banks have been willing to pay a small amount in exchange for this additional security. One benefit is they don't have to reissue a card if the DAN is compromised: you just delete the card from your Wallet and add it again, and you'll have a new DAN. Historically, this has been a large expense over the past few years when the systems of high-profile retailers have been compromised. And of course, you have to authenticate a transaction on the iPhone each time. Also, you can remotely delete the contents of your Wallet.

Apple's fee? In the US, it is reportedly 15 cents per $100. The bank's portion of the transaction fee is about $1.50 per $100, so it's a relatively small amount in exchange for eliminating an entire class of credit card fraud. A few banks have botched the implementation by not sufficiently validating the addition of a card to the Wallet, but I expect that will eventually be resolved.

I was in Toronto earlier this year and used Apple Pay every where I went, 90% of places accepted it, I guess it wasn't avail for Canadians

It's not available through any Canadian services like banks. But 90% of places have had the tech for contactless payments for a long time.

Is it time to get an AmEx?

Bienvenue chez :apple: Pay, Canada
Welcome to :apple: Pay, Canada!

I really don't see Apple Pay gaining any traction in Canada. Although I have an iPhone 6, I would still prefer to make purchases by tapping my credit card. It's much faster, easier/lighter to carry in my pocket, and no chance of a fingerprint misread. I suspect there's little to no market demand for this service, which likely explains why the Canadian banks aren't budging in negotiations.

You're way off the mark.

Whoopeeo_O...to bad I got a TD visa card...in other words, more waiting and hoping.

Can someone explain why Apple Pay can't just be a solution that works anywhere where contactless nfc payments are accepted other than wanting to be in control of the process? Not being snide or a "hater", asking seriously.

The banks make most of their profits from the transaction fees that merchants pay when you use debit/credit. Since Apple acts as a messenger here, they want to take a cut from that fee and the banks don't like that because that means they wouldn't make as much money. It has nothing to do with lack of tech (most places have had the tech for a while)

Screw that. My philosophy is that I shouldn't have to pay for an annual fee just to use a credit card. They have enough other streams of revenue. That's why all my cards are no-fee.

I try to use debit at local businesses so the credit card companies don't take a %.

Let me teach you a lesson --

AMEX Everyday Card
2% back at U.S Supermarkets (up to $6,000 and then 1% back). So if you spend $8,000 a year on groceries, you get $140 back.

1% back on everything else... So in addition, if you spend $20,000 a year on all other purchases, you get 200.00 back.

Total? $340 back at the end of the year.

No annual fee.

$100 sign up bonus if you spend $1,000 in the first three months.

20% bonus on cashback/points if you use the card 20 or more times a month, so (2.2 and 1.2% back)

If you use your card 20 or more times a month, you'll get: $156 back on groceries, and $240 back on everything else, totaling = $396 back in one year.

AMEX Everyday Preferred Card
3% back at U.S Supermarkets (up to $6,000 and then 1% back). So if you spend $8,000 a year on groceries, you get $200 back.

2% back at U.S Gas Stations, so if you spend $2,000 a year on gas, you get $40 back.

1% back on everything else. So if you spend $18,000 on all other purchases, you get $180 back.

50% more points if you use the card 30 or more times per month. So (4.5%, 3%, and 1.5% back)

If you use the card 30 times or more a month, you'll get: $570 back in groceries, $60 back in gas, and $270 back in all other purchases, totaling = $900 back in one year.



$150 bonus if you spend $1,000 in the first three months.

$95 annual fee.

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Last time I checked, $900 > $396. The annual fee is worth it. There's no sense in preaching to the masses, as they have no idea how to take advantage of credit cards. Also, the fact that you use debit at small businesses to save them money is a myth, especially those with small sales. Businesses can set a minimum transaction amount on a credit card, there isn't such thing permitted with debit transactions.