According to a recent report, Apple Pay will launch in Canada tomorrow. Apple previously announced that their mobile payment system would be available in Canada with American Express.
The news comes from the guys over at iPhone in Canada, who have been told by American Express that the service will launch on the 17th of November.
Ready for Apple Pay to launch in Canada? According to American Express, the service is set to launch this Tuesday, November 17, 2015. Customer service representatives we spoke with confirmed the date over the phone numerous times, and is in line with what you’ve told us as well.
Apple has yet to confirm that Apple Pay will launch in Canada tomorrow. As soon as we get some more details, we will let you guys know.
What is Apple Pay?
Apple Pay is a mobile payment and digital wallet service by Apple Inc. that allows users to make payments using an iPhone, Apple Watch, iPad, or Mac. It digitizes and replaces the credit or debit card chip and PIN or magnetic stripe transaction at a contactless-capable point-of-sale terminal. Apple Pay does not require Apple Pay-specific contactless payment terminals; it works with any merchant that accepts contactless payments.
The service was first announced in September 2014 and has since expanded to various countries around the world. Apple Pay aims to provide a more secure and convenient way to pay, leveraging the security features of Apple devices, such as Touch ID and Face ID, to authorize transactions.
Apple Pay’s Expansion and Impact
The launch of Apple Pay in Canada marks another significant step in the service’s global expansion. Initially available only in the United States, Apple Pay has gradually rolled out to numerous countries, including the United Kingdom, China, Australia, and now Canada. Each new market presents unique challenges and opportunities, from negotiating with local banks and financial institutions to ensuring compliance with regional regulations.
In Canada, the partnership with American Express is particularly noteworthy. American Express has a strong presence in the Canadian market, and its collaboration with Apple Pay could help drive adoption among Canadian consumers. By leveraging American Express’s existing customer base and merchant network, Apple Pay can quickly gain traction and become a preferred payment method for many Canadians.
Moreover, the introduction of Apple Pay in Canada could have broader implications for the mobile payment landscape in the country. As more consumers and merchants embrace digital wallets, traditional payment methods like cash and physical cards may see a decline in usage. This shift could lead to increased competition among payment providers, ultimately benefiting consumers through improved services and lower fees.
In addition to its convenience, Apple Pay offers enhanced security features that can help protect users from fraud. When a user adds a credit or debit card to Apple Pay, the actual card numbers are not stored on the device or on Apple servers. Instead, a unique Device Account Number is assigned, encrypted, and securely stored in the Secure Element on the user’s device. Each transaction is authorized with a one-time unique dynamic security code, ensuring that the user’s card information remains private and secure.
As Apple Pay continues to expand, it is likely to face competition from other mobile payment services, such as Google Pay and Samsung Pay. Each of these services offers its own unique features and advantages, and the competition among them could drive further innovation in the mobile payment space.
The launch of Apple Pay in Canada represents a significant milestone for both Apple and Canadian consumers. With its combination of convenience, security, and broad acceptance, Apple Pay has the potential to transform the way Canadians make payments. As the service continues to grow and evolve, it will be interesting to see how it shapes the future of digital payments both in Canada and around the world.
Source MacRumors
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