Apple Pay to be launched in Canada

It seems that Apple is eager to extend the usability of its Apple Pay service. Consequently, the famous company plans on launching the Apple Pay in Canada, too. Reportedly, Apple is in talks with no less than six Canadian banks for its mobile payment service.

If the rumors turn out being true, this will actually be a new stage in the future of Apple's payment service, marking the start of its international expansion.

According to the rumors, Apple plans on making the service available to users in November, allowing them to easily access mobile payment options for both credit and debit cards using their iPhones or maybe Apple Watches.

Rumors indicate that most likely Apple will not face opposition linked to this launch. However, reports revealed that although banks are open to the prospect of an agreement, they aren't happy at all with the fees that Apple proposed.

Moreover, it seems that the security threats experienced in the US have scared Canadian banks, which are quite concerned about the vulnerabilities of Apple's payment service.

The six banks that are in talks with Apple include the Royal Bank of Canada, Toronto-Dominion Bank of Nova Scotia, Bank of Montreal, Canadian Imperial Bank of Commerce and National Bank of Canada. If Apple will be able to reach agreements with each of these finance giants, it will secure more than 90 percent of the market.

Reports indicated that nothing is certain at this point, as the negotiations between Apple and the financial institutes are still ongoing. Of course, it is yet to see what will be officially confirmed.

What is certain at this point is that Canada has always been an interesting and attractive opportunity for the Apple Pay. This market is very close to the United States and the iPhone has always been popular here.

Moreover, most Canadian retailers are already equipped with machines that accept contactless payments, so this means that Canadian customers might find using the service very simple.

The Apple Pay was first introduced by Apple back in October. The service allows iPhone owners to pay or items they purchase only by waving their device in front of a wireless reader. The service has become quite popular, due to the simplicity in which people can make purchases.

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