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Apple Pay May Be Expanding to Canada as Soon as March
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The horror..
Then the Yanks down South will have to endure the horror of being jealous of their Canadian brothers/sisters who will get a much, much better ApplePay experience (since the Canooks will truly be able to use it everywhere, all the time as NFC is endemic North of the border) than they do down South.
Then we'll have to see Europe do the same thing and have to endure hearing about how great and easy ApplePay is to use everywhere, while the poor American's reading that will think about whether they could stand to get something else at McDonald's just to use their ApplePay one more time....
Oh, the horror...
Then the Yanks down South will have to endure the horror of being jealous of their Canadian brothers/sisters who will get a much, much better ApplePay experience (since the Canooks will truly be able to use it everywhere, all the time as NFC is endemic North of the border) than they do down South.
Then we'll have to see Europe do the same thing and have to endure hearing about how great and easy ApplePay is to use everywhere, while the poor American's reading that will think about whether they could stand to get something else at McDonald's just to use their ApplePay one more time....
Oh, the horror...
I guess you don't know that Apple isn't a middleman. Once your card is loaded into your Passbook, Apple doesn't participate in the transaction at all.
Apple gets a very small portion of the merchant fee (15 cents per $100), but that's paid by the bank. It comes out of the approximately $1.50 per $100 that the bank is already collecting from the merchant.
The bank is willing to pay that, because they don't have to worry about your actual account number being lost by the merchant. Banks have spent a lot of money the past couple of years replacing credit cards after merchants like Target and Home Depot have been compromised.
In my 5 years of owning an iPhone I have had it stolen exactly never, but if I did I would just log into iCloud and disable it (which is fingerprint locked anyways) and log into my bank to report my card stolen. A few minutes after I've been robbed, what they hold is worthless, and possibly even providing GPS coordinates for police to hunt them down.
GG
I believe the person you quotes was talking about the guy who was using an iPhone case that included slots of their credit cards. I don't think anyone is disputing that a lost iPhone is a cause of concern as far as your credit cards are concerned (when not utilizing one of those said cases).
Well, if an illiterate high school student can understand the Canadian financial system then we're doing okay.
I don't think we are doing OK, because he got so much wrong I didn't even bother to respond.
I am the person the guy was talking about, using the case with the credit card slots. I'm explaining that, just as it's trivial to lock down and track my iPhone from iCloud.com, I can go to my bank's website and report the card stolen. Once I've done that, when they try to use the card, it'll be declined, and my bank will call the police (if the criminal tried using it at a store, the police can go to the store. If the criminal used it online, it's possible to take the IP address to the internet provider and ask for a physical address. Of course, if they're on public internet that may not be useful.)
So, as I said previously, GG criminals.
Can vouch for Apple Watch launching in Canada for the first wave. A very reliable source informed me that some Canadian retail store employees have already been invited to February's watch training.
You know a lot less than you think about how e-payments work in Canada.
Interac is not a processor. It's an association of payment processors with the goal of trying to (reasonably) standardize the e-payment process for all merchants (among other mandates).
There are multiple processors in Canada; Moneris and Chase PaymenTech being the big two. There are also a handful of smaller processors (the weird looking debit terminals you encounter every so often). Apple would need to secure the big two to be successful.
"All" debit transactions are absolutely not without fees.
Not every merchant accepts e-payments. It's not mandatory or anything. Most do, but there are a lot more businesses holding out (usually due to fee disputes with the processors) than you'd think.
Lastly the prevalence of debit cards in Canada doesn't automatically translate to pay. pay is currently designed to work with Credit Cards. Setting it up for Direct Debit access may have logistical obstacles, and may not even be something Apple is interested in doing.
You can already have NFC payments if you pick up a secure NFC SIM from Bell or Rogers. Should work with most major banks.
http://www.scotiabank.com/ca/en/0,,8100,00.html
http://www.tdcanadatrust.com/produc...tronic-banking/ways-to-pay/mobile-payment.jsp
http://www.rbcroyalbank.com/mobile/wallet/
Don't you have a NFC enabled Debit / Visa card?
My thinking exactly
Perhaps when Visa Debit / MasterCard debit is launched, this may simplify the integration of debit accounts into Apple Pay?
The United States traditionally did not have a strong centralized banking system - I think there were over 18,000 banks in the mid-80s and even today, there are over 11,000 banks. In Canada, we have 5 major banks, plus a couple more in French Canada. There are smaller banks/credit unions too, but they're non-factors due to the limited number of customers they have. That's basically our entire banking system and makes it very easy to adopt new standards and/or collaborate (i.e. Canadian Bakers Association, Canadian Payment Association, Interact, etc.)
Canadian banks are also very conservative (i.e. cautious), so when there is a new technology that benefits the bank and customer, it will be deployed. I guess this is a difference between Canada vs. US.
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Except that in addition to being illiterate, his anecdote completely doesn't apply. ApplePay is a tokenized credit card payment; it's not like interac at all.
The arrogance of your statement is only surpassed by the ignorance of it.
Troll much eh? Geesh.
Yesterday, here in CH, paid my barber (semi-retired 1 man shop) with my Amex via Pay. He was surprised it worked; me not. He then looked at his new window phone kinda longingly.
Then strolled across the store to the small grocery store. To buy a chocolate milk. The reader there started the payment but it was rejected by US Bank (because I rarely use my Visa card, had to pay cash, later called US Bank from home and had them lift the fraud flag.)
Until now I've been using Pay here in Switzerland at the bigger merchants:
Migros, Coop, IKEA, interspar. Manor/Manora responded to my email inquiry saying that they have already a pilot program to upgrade to NFC readers and will be making a general upgrade soon.
Also I've successfully used Pay at a number of smaller merchants here.
Most oddly, it seems none of our many brands of gas stations support NFC, either at the pump or in the attached convenience store. I think this may be due to pin-free NFC payments being limited to a bit under 50 bucks here.
It is also clear that many of the systems that are accepting Pay payments are not yet optimized for the service as some machines still spit out paper receipts.
Then strolled across the store to the small grocery store. To buy a chocolate milk. The reader there started the payment but it was rejected by US Bank (because I rarely use my Visa card, had to pay cash, later called US Bank from home and had them lift the fraud flag.)
Until now I've been using Pay here in Switzerland at the bigger merchants:
Migros, Coop, IKEA, interspar. Manor/Manora responded to my email inquiry saying that they have already a pilot program to upgrade to NFC readers and will be making a general upgrade soon.
Also I've successfully used Pay at a number of smaller merchants here.
Most oddly, it seems none of our many brands of gas stations support NFC, either at the pump or in the attached convenience store. I think this may be due to pin-free NFC payments being limited to a bit under 50 bucks here.
It is also clear that many of the systems that are accepting Pay payments are not yet optimized for the service as some machines still spit out paper receipts.
Part of me is hopeful because i tweeted at TD Canada about Apple Pay a couple weeks back, and they tweeted back that they were working on it and to stay tuned.
The other part of me remembers a similar bunch of rumours and reassurances that iTunes radio was coming to Canada in early 2014, and well... yeah.
The other part of me remembers a similar bunch of rumours and reassurances that iTunes radio was coming to Canada in early 2014, and well... yeah.
According to the Wall Street Journal, my bank is top 50 based on the number of assests I have. Also, I hope thats just a joke; it's not like my bank is based in backwater, arkansas (no offense to people from there). It has major national chains in Michigan, new york, california, texas, etc.
The real advantage is security. No one can skim my credit card number because they never have my card. No one can shoulder surf and see my PIN number because I never enter it. And if a system is hacked like what happened at Target etc, I can replace the card I used in a matter of a couple of minutes because I only have to remove the device specific code and create a new one. All without even having to call my bank.
No wallet card can give me that
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Banana Republic is Gap Inc and they are members of CurrentC.
So no it won't work for a while if ever