Apple Pay is currently only available in the US although with the Apple Watch launching soon, the company is expected to expand their mobile payment system to more countries.
According to a recent report Apple Pay will be headed to Canada later this year and it could possibly launch around November.
Apple has apparently been in discussions with six banks in Canada about the launch of Apple Pay, although agreements have yet to be reached.
However, Canadian banks are concerned, in part, about what they consider “onerous” terms of commercial agreements for Apple Pay, according to people familiar with the matter. It is also possible that Canadian banks could face higher costs than their U.S. counterparts, some of those people said. A base case for Canadian banks could be in the range of 15 to 25 basis points on credit card transactions to Apple, according to one of those people.
Apple is also rumored to be looking to launch Apple Pay in China this year and we are also expecting the service to launch in the UK at some point this year.
Source WSJFiled Under: Apple, Technology News, Top News