As it stands, Apple Pay is currently only available in the United States. Though, you can use Apple Pay outside of the US, a supported US credit or debit card is required. CNBC tweeted out on Friday, based on a report by Dow Jones, Apple is looking to bring its mobile payment system to Canada in the fall.
The Cupertino company is currently looking into the six major banks in Canada, bringing Apple Pay to the country in November, taking its first trip outside of the United States. After the initial tweet by CNBC, the Wall Street Journal expanded on the story. “At this stage, it is still uncertain whether all six banks will launch Apple Pay at the same time because talks are ongoing,” says sources who relayed the information to WSJ.
The story goes on to say that Royal Bank of Canada, Toronto-Dominion Bank, Bank of Nova Scotia, Bank of Montreal, Canadian Imperial Bank of Commerce and National Bank of Canada are the potential candidates for Apple’s NFC based mobile payment system in Canada.
These six banks make up for ninety precent of retail bank accounts in Canada. Apple’s biggest advantage being the majority of merchant terminals in the country are NFC compatible, which is required for Apple Pay to work.
Although talks are going on, banks “aren’t happy with Apple’s fee proposals” and are concerned about potential security breaches with the service, saying customers could potentially take stolen credit cards and put them into Apple Pay.