Mobile Payments

Apple Pay Gains Canada's Big Bank Support

Apple Pay's expansion into Canada just got a lot bigger.

Last month, Apple Pay secured the support of the Royal Bank of Canada, Canadian Imperial Bank of Commerce, ATB Financial and Canadian Tire Financial Services. Now, Apple Pay has gained three more banks: Bank of Nova Scotia, Bank of Montreal and Toronto-Dominion Bank.

"Today's announcement brings mobile payments to the mainstream, with Canada's five largest financial institutions now offering Apple Pay to Interac debit cardholders," said Mark O'Connell, president and CEO of Interac Association and Acxsys Corporation. "With Canadians using Interac Debit more than any other payment card combined, the rollout of Interac on Apple Pay addresses the consumer demand for innovative payment solutions that enable Canadians to make purchases using their own money."

As a result, the customers of those banks can add their bank-issued credit cards.

“Adopting Apple Pay is about offering choice and convenience to our customers, about 50 percent of whom have an Apple device,” said Teri Currie, TD’s group head of Canadian personal banking. “Today’s launch allows our customers to use their iPhone or Apple Watch securely for everyday purchases.”

With the Apple Pay launch for Interac debit cardholders, Canadians now will have the ability to use the cards within merchant apps that integrate Apple Pay into their in-app payment options.

"We've heard from Interac debit cardholders across Canada who are eager to use Interac with Apple Pay," said Avinash Chidambaram, VP of product and platform development at Interac Association and Acxsys Corporation. "With today's announcement marking the widespread availability of Apple Pay for Interac debit cardholders, we're excited that even more Canadians will be able to experience the convenience and simplicity of making an Interac debit transaction using their iPhone or Apple Watch."



Banks, corporates and even regulators now recognize the imperative to modernize — not just digitize —the infrastructures and workflows that move money and data between businesses domestically and cross-border.

Together with Visa, PYMNTS invites you to a month-long series of livestreamed programs on these issues as they reshape B2B payments. Masters of modernization share insights and answer questions during a mix of intimate fireside chats and vibrant virtual roundtables.

Click to comment