BMO Reportedly Planning Apple Pay Launch: Sources

Yesterday we saw TD Canada Trust drop the ball and prematurely announce it would support Apple Pay for debit and credit cards, and now we’re hearing from sources BMO may similarly support the mobile payment service.

According to sources, BMO’s internal system has detailed how to setup debit and credit cards with Apple Pay as part of a pilot project. No launch date was listed, according to those familiar with the situation speaking on the condition of anonymity.

The sources we spoke were unable to confirm any specific details, but claimed with confidence BMO was working to setup Apple Pay for launch, saying TD Canada Trust’s leak is enough to prove the mobile payment is coming to Canada.

The financial institution’s U.S. subsidiary, BMO Harris, already supports Apple Pay down in America, just like TD Bank and RBC Bank, similar U.S. arms of our big Canadian banks.

If you work at BMO or have sources at the bank, I’m sure they will be able to support or squash this rumour. Please let everyone know in the comments.

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Also, on a side note, RBC has a new updated Electronic Access Agreement set to kick in on October 20, which includes changes to numerous definitions including “Mobile Payments”.

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As to whether this is a clue the bank may also support Apple Pay (or was updated to support its own mobile payments), it’s unclear at this moment in time, but surely we will all find out soon enough.

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  • Rio

    “RBC has a new updated Electronic Access Agreement set to kick in on October 20”

    This is interesting! They could be changing it when they announce Apple Pay. WSJD is happening 19-21, maybe Tim Cook is speaking on the 20th and will announce it then

  • xeronine992

    Tim is actually speaking on the 19th (yay)!

    Looking at the new agreement with RBC though, I’m not seeing how it spells out Apple Pay. Maybe I’m missing something, but it seems like they’re limiting their definition of “Mobile Payments” to only their app? Or am I reading that wrong.

  • I think the date it kicks in could be more of a clue versus the legalese. The date was announced back in late September to customers. So something has been planned for it to kick in on such a specific date, right?!

  • xeronine992

    Good point! Especially if Tim announces it on the 19th, RBC’s new EAA going into effect the following day.. All signs are pointing towards the end of this month.

    Now when is applepay dot ca going to come to life 🙂

    PS I appreciate this site Gary. Lately I can’t stop refreshing it 😛

  • Guest

    I may be reading into all this too much but my scotiabank app updated the other day to support Touch ID.

  • xeronine992

    Having used Apple Pay with a US credit card, it doesn’t rely on or require the bank’s app. Everything is done through the Wallet app built into the phone.

    I am jealous though. The RBC app doesn’t even support the 6/6+ screen size. It’ll probably be another 2 or 3 years before we see Touch ID.

  • BMO and Scotiabank now support Touch ID, but TD Canada Trust does not and neither does CIBC.

  • Geoffrey Spencer

    I hope my bank, Scotiabank, will be there on day one. Any news on that front? I guess we will find out next week.

  • Jeeverz

    Or Royal.

  • Right, RBC’s app looks stuck in the stone age.

  • Jeeverz

    Sigh,, they have not even updated it for the iPhone 6 or 6+

  • Z S

    Here’s hoping. But I’d be shocked if the Big Five weren’t all on board at launch. That’s one benefit to working with Canada – only 5 major banks with a handful of smaller ones… versus in the States, where the are hundreds, if not thousands.

  • Ron

    Looks like we won’t be getting Apple Pay anytime soon unless you have American Express. Big disappointment????