Apple Pay, Apple’s mobile payment and digital wallet service, may finally see a Canadian launch. Earlier this year it was rumoured that the payment service would a Canadian debut by late March or “early 2015.” That didn’t happen, but a new report from the Wall Street Journal suggests a launch is imminent.
According to the publication’s sources, Apple will be expanding outside the United States and enter Canada sometime “this fall” as its first international expansion destination. Canada’s six largest banks—Royal Bank of Canada, Toronto-Dominion Bank, Bank of Nova Scotia, Bank of Montreal, Canadian Imperial Bank of Commerce and the National Bank of Canada—are currently in discussion with the tech giant, but the banks are apparently “[un]happy with Apple’s fee proposals and are concerned about security vulnerabilities.”
In the United States, Apple charges 15 basis points per credit card transaction and 0.05 per cent per debit card transaction when Apple Pay is used. As for tackling the security concerns, the banks have formed a consortium and hired consultancy McKinsey & Co. to help develop an Apple Pay security protocol.
Apple Pay is currently compatible with the iPhone 6, iPhone 6 Plus and Apple Watch (when paired with a iPhone 5, iPhone 5c, iPhone 5s, iPhone 6, or iPhone 6 Plus).
source MobileSyrup.com http://ift.tt/1b4v4bi
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