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Like an expert player in a game of Risk, Apple is spreading across the globe.
Apple Pay has expanded in Canada with a launch to support Canadian Visa, MasterCard, and Interac cardholders with cards issued by the Royal Bank of Canada, Cibc, ATB Financial, and Canadian Tire Bank.
Apple Pay debuted in Canada last fall, but it was exclusive to American Express cardholders.
Many expect the mobile wallet to also expand to cardholders from the other three major Canadian banks (TD Bank, Scotiabank, and Bank of Montreal) in the next few months.
This expansion should substantially increase Apple Pay adoption, especially if it follows the Australian trend.
Apple Pay also launched for Australian Amex cardholders last fall and subsequently expanded to include Visa and MasterCard customers with cards from the ANZ Bank. And since that expansion on April 28, interest in ANZ deposit and credit accounts has soared, reports the Sydney Morning Herald . This success has led other Australian banks to partner with the tech giant to deliver Apple Pay to its customers.
It’s likely that Canadian customers would have the same interest level in Apple Pay, so a successful launch should lead to more bank partnerships in the not-too-distant future.The spread of Apple Pay is one of many ways in which the payments ecosystem in today’s world is evolving. Simple cash and card transactions are giving way to mobile wallets and other forms of digital payment.Evan Bakker and John Heggestuen, analysts at BI Intelligence , Business Insider’s premium research service, have compiled a detailed report on the payments ecosystem that drills into the industry to explain how a broad range of transactions are processed, including prepaid and store cards, as well as […]
