Report: Apple Pay may launch in Canada fall 2015

Cupertino, Calif. – Apple Inc. reportedly may launch its Apple Pay mobile payment service in Canada as soon as fall 2015. According to the Wall Street Journal, Apple is in negotiations with the six largest Canadian banks to roll out Apple Pay north of the border in November 2015.



The Canadian Apple Pay launch would enable mobile credit and debit card payments via iPhone and iWatch. Sources indicate that financial institutions including 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 receptive to supporting Apple Pay but have reservations about fees and security. Those banks represent more than 90% of Canada’s retail bank accounts.



Apple has previously said it would roll out Apple Pay globally. Apple Pay launched in the U.S. in October 2014.