Apple Pay now supports Interac in Canada
Excerpts from the press release:
Interac, Canada's domestic debit network, today announced the launch of Apple Pay, available to consumers with Interac
debit cards issued by CIBC and RBC, and coming soon to BMO Financial Group, Scotiabank and TD. Apple Pay enables easy, secure and private contactless transactions using supported Apple devices. Consumers will now be able to add their Interac
debit cards to theirApple Wallet and shop at the hundreds of thousands of merchant locations where contactless payments are already accepted in Canada.
With Canadians using Interac
more than any other payment type, Apple Pay support of Interac
is well positioned for a successful rollout in Canada. "Canadians embrace new technologies quickly and will, no doubt, find tremendous value and convenience when using their Interac
debit cards with Apple Pay," said Avinash Chidambaram, Vice President, Product and Platform Development, Interac Association and Acxsys Corporation.
"In the coming months, Canadians will also be able to use Interac
for In-App payments, further simplifying the online shopping experience and providing yet another way for Canadians to use their own money when making purchases."
has been working closely with its financial institution partners, such as RBC and CIBC, to bring Apple Pay to Interac
Security and privacy are at the core of Apple Pay, so when used with a payment card, the actual card numbers are not stored on the device, nor on Apple servers. Instead, a unique Device Account Number is assigned, encrypted and securely stored in the Secure Element of the supported Apple device.
Using the Interac
Token Service Provider (TSP) service, each Apple Pay transaction is validated with a one-time unique token (a dynamic security code). The Interac
TSP service was developed in collaboration with IBM, a world leader in mobile and cloud computing, Bell ID, a global provider of tokenization software for mobile payments, and Everlink, a leading provider of integrated payment solutions and services. Since Apple Pay transactions using Interac
are backed by the Interac
brand, consumers are further protected from fraud with transaction limits and zero customer liability.
Apple Pay is available to all active Interac
debit cards issued by CIBC and RBC. Your debit card does not have to be an Interac
enabled card. In stores, Apple Pay works with iPhone SE, iPhone 6s, iPhone 6s Plus, iPhone 6, iPhone 6 Plus and Apple Watch. You will first need to add your debit card to the Apple Wallet to make mobile transactions.
can be used with Apple Pay to buy goods and services across Canada in the hundreds of thousands of Canadian stores wherever contactless payments are already accepted. Just look for the contactless symbol on the payment terminal at checkout.
For more information, visit Interac
) or Apple (www.apple.com/ca/apple-pay