Confirmed: Apple Pay Coming to Canada This Year

In a follow-up to news that surfaced this past spring about Apple’s mobile-wallet transactions possibly coming to Canada, it was confirmed today that Apple Pay has joined forces with American Express Co. to bring mobile payments to Canada and Australia. The mobile wallet system will be coming to the two countries this year.

The U.S and U.K already have Apply Pay, a system which lets iPhone and Apple Watch users pay for merchandise by tapping their phones and watches on merchant terminals.

apple0287Downplaying the new advancement, Rob Sedran, a CIBC World Markets bank analyst wrote last October that Apple Pay will have a “meaningful role, but hardly a transformational one in Canada.”

The affects of the new system can only be measured after role-out, but it’s certain that it will prove to be very useful for iPhone users.

Currently, mobile-wallet transactions are only available for use on Android and BlackBerry devices, which leaves the 40 per cent of Canadians who have an iPhone, according to ComScore Inc., out in the cold, when it comes to convenience.

According to Bloomberg News, Canada’s largest banks and wireless carriers have already developed mobile wallets for non-iPhone users. The news source states that Toronto Dominion Bank’s UGO has signed up more than 100,000 users since debuting in December and Suretap, developed by Rogers Communications Inc., has 180,000 users. Both apps allow users to make payments and store loyalty cards.

Apple Pay’s growth into Canada is part of a worldwide plan. The iPhone mobile wallet system will be coming to Spain, Singapore and Hong Kong in 2016.

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