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BMO Reportedly Planning Apple Pay Launch: Sources

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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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