Apple Pay is widely available in the United States but Apple has not yet started its international expansion. That may change this fall, when the service will reportedly go live in Canada.
The Wall Street Journal said Friday that Apple is currently talking about the Apple Pay launch with six banks that will initially support the service. The list of banks named by the news outlet includes National Bank of Canada, Canadian Imperial Bank of Commerce, Bank of Nova Scotia, Bank of Montreal, Royal Bank of Canada and Toronto-Dominion Bank. If the Apple Pay rollout in the United States is any indication, that list of banks will likely expand pretty rapidly.
Canadian banks appear to still have some concerns about Apple’s business, however.
“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.”
One security concern that has surfaced in the U.S. is the ease of which hackers are able to purchase stolen credit cards online and then use that data to make Apple Pay purchases, since Apple’s payment system doesn’t require a separate form of identification.
Apple has not revealed a public plan to launch in Canada this fall, but it does sound like it’s working to lay the groundwork.