According to a report at the Wall Street Journal, Apple Pay will potentially be launching in Canada this coming November.

The mobile payment system, which allows iPhone users to pay for goods and services by waving their phone in front of a mobile reader, is already available in the U.S. There, it accounts for two-thirds of all contactless credit card payments.

Bringing the service to Canada would mark Apple Pay’s first steps beyond American borders.

While a boon to Canadian shoppers allowing for a smooth, fluid payment experience, the system doesn’t come without its challenges. In the U.S. Apple Pay has been hit with incidents of fraud. The cause is rumoured to possibly be due to problems the banks have had in verifying the authenticity of credit card numbers provided through the system.

Extra security measures are still to be developed for Canadian iPhone users but in the U.S the major banks are now trying to convince Apple to implement a secondary security measure such as a code texted to the user to protect against fraud.  Apple is reportedly rejecting further security measures for the user, as it goes against the ease and speed of the Apple Pay system.

Should the system launch here, Canadian banks will potentially have to pay fees to Apple every time a customer makes a purchase.

According to the Journal’s report, costs for banks would be of 15 to 25 basis points on credit card transactions – or up to 25 cents on a $100 purchase. U.S. banks are reported to pay an estimated 15 cents on a $100 purchase.

Amid fears that it will hurt the bottom line for banks, in comments made in March, RBC CEO David McKay warned that Canada’s banks are “on a collision course” with mobile payment systems like Apple Pay and Google Wallet.

Regardless, Apple is reportedly in talks with Canada’s six largest banks -- CIBC, BMO, National Bank, RBC, Scotiabank and TD Bank -- to bring the payment service north of the border.