TD Canada, BMO, Scotiabank Launches Apple Pay for Visa, Debit Cards [u]
With TD on board, and BMO and Scotiabank following suit, all five major financial institutions in Canada now back Apple Pay, as the iPhone maker has finally managed to crack the resistance of the banks.
TD first leaked support for Apple Pay last fall on its website, but the microsite was quickly pulled shortly afterwards, only to re-emerge after the May 10 announcement. It recently disappeared again, but support for Apple Pay was listed on Apple’s Canadian site under “coming soon”.
You may recall that we informed you about the ongoing briefing of TD employees on Apple Pay, so everything has been pointing to a rapid deployment of the mobile payments service.
— INTERAC (@INTERAC) June 1, 2016
Scotiabank said the following about today’s Apple Pay launch in a statement:
“At Scotiabank, we are embracing a digital transformation and are committed to providing our customers with safe, secure and innovative financial tools and services that are tailored to their needs,” said Mike Henry, Executive Vice President of Retail Payments, Deposits and Unsecured Lending at Scotiabank. “We are delighted to add Apple Pay to our robust line-up of mobile payment solutions.”
Teri Currie, TD’s group head of Canadian personal banking, said the following to the Financial Post:
“Adopting Apple Pay is about offering choice and convenience to our customers, about 50 per cent of whom have an Apple device,” adding “Today’s launch allows our customers to use their iPhone or Apple Watch securely for everyday purchases.”
Meanwhile, Mike Henry, Scotiabank’s executive VP of retail payments, deposits and unsecured lending, told the Post “All of these things take time to build,” further adding “Any gap since Apple’s first announcement in Canada is one that can be measured in days and so we are just happy to be offering the new option for customers.”
Avinash Chidambaram, VP, Product and Platform Development, Interac Association and Acxsys Corporation, said in a statement “We’ve heard from Interac debit cardholders across Canada who are eager to use Interac with Apple Pay,” adding “With today’s announcement marking the widespread availability of Apple Pay for Interac debit cardholders, we’re excited that even more Canadians will be able to experience the convenience and simplicity of making an Interac debit transaction using their iPhone or Apple Watch.”
Apple has updated their list of Canadian banks that now support Apple Pay, with today’s additions in bold:
- American Express
- ATB (MasterCard credit cards)
- Bank of Montreal (Interac debit cards, MasterCard credit cards)
- Canadian Tire (MasterCard credit cards)
- CIBC (Interac debit cards, MasterCard and Visa credit cards)
- RBC—Royal Bank of Canada (Interac debit cards, MasterCard and Visa credit cards)
- Scotiabank (American Express and Visa credit cards, Interac debit cards)
- TD (Interac debit cards, Visa credit cards)
ATB Financial had previously announced on Twitter that Apple Pay in-app purchases will go live on June 1. Maybe it’s time for a celebration? Starting today, all five major Canadian banks support Apple Pay, so you can start adding your cards now and test the mobile payments service!