Apple Planning November Launch of Apple Pay in Canada

[NewbieCanada]

Scotia Momentum Visa Infinite. It has a $99 annual fee, +$29 for supplementary cards, but we get around $800 a year cash back on it so it pays for itself pretty quickly. They have two other Momentum cards with a lower annual/no fee with lower cash back levels as well.

Glad to hear that ApplePay shouldn't affect the cash back. Now we just need it to launch!

If anyone is considering this card, if you apply for it on Amazon.ca you get the first year's fee waved and a $75 Amazon gift card.

I will probably drop it after the first year - I do most of my spending on a TD Infinite card, which gives me Aeroplan miles and free travel insurance.

 

[SoApple]

ah man .. Desjardins is not on the list so far ! Booooo

I have them too and for some reason I think they're going to have a hard time adopting it. If they do i'll just switch!

 

[rictus007]

oh?!? I'm sorry to hear that... They will need to wait til November

 

[ttss6]

And I thought the American business, media, and record labels were tough to work with!

 

[BoulderAdonis]

one word - Discover

Discover .......... Apple Pay!!!

 

[wolfshades]

November?! I mean, yay! But November? That's 6 months and a new iPhone away... Oh well, at least it's (maybe) on the horizon (provided our greedy banks aren't too greedy).

Canada is WAY more prepared for contactless mobile payments, I tap my credit card/debit card basically every time I use them. Once ApplePay launches we'll be able to use it virtually everywhere!

You're right - we are very well prepared. I can go a couple of weeks and never pay cash for anything. It's all done via contactless mobile payments.

Last year I went on a holiday to New York - couldn't believe how many places required me to pay cash for stuff. Unbelievable.

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Once you've used Apple Pay, it is the way you want to pay for everything else going forward. I will certainly consider dropping a credit card or even a bank if they don't support Apple Pay by the end of this year when more terminals become available. So Apple is going to have a huge amount of leverage in a very short period of time.

Same here. I've been (politely) barking at my bank through online surveys for a couple of years now for not having Interac Flash and Interac online purchase ability. Once ApplePay comes along, I'm getting ready to jump ship.

They need to get with the times.

 

[LordVic]

You're right - we are very well prepared. I can go a couple of weeks and never pay cash for anything. It's all done via contactless mobile payments.

Last year I went on a holiday to New York - couldn't believe how many places required me to pay cash for stuff. Unbelievable.

I haven't used cash in months. Everything is credit card these days. even tiny purchases of a few dollars at tim horton's is tap n pay with NFC credit card

it's faster than cash. No longer do you have to worry about the person who can't do basic math for change. It's now tap my wallet. paid.

 

[ipedro]

I don't want to sound spoiled but November? Ugh... There's no reason this couldn't have been available at launch. All the infrastructure is up. It's simply a bureaucratic road block. There were even hints that it could appear as early as March. I was crossing my fingers that since March has gone by that it would just be announced any day now. So I guess we're waiting another 7 months.

 

[hogo-fogo]

No, thanks

Pay for using it?

Yes, absolutely. Banks will simply pass that fee to us - customers. Surely, not in a plain sight, well hidden in "monthly fees" for bank account or something like that...

 

[coolspot18]

RBC isn't happy with the fee structure. What a load. Their random 'fees' have been dinging my accounts for no reason for years.

Random fees? It's all published pretty clearly - just keep a minimum balance if you don't want to pay fees or switch to Tangerine / PCF.

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Indeed.

I still don't get why Apple didn't roll this out here first. Pretty much every single terminal I encounter on a daily basis has NFC built in unlike in the US.

Canadian banks had no reason to roll out Apple Pay when everyone already has NFC.

 

[lunarworks]

Sure so the price for that stability, which the banks benefit from the most through reduced competition, are increased fees, poor service and poor implementation of technology. Sounds like a win win for the banks?

Poor implementation of technology?

Have you BEEN to the States recently? They don't even use Chip & PIN down there. Everything is still swipe. Even in Buffalo, with tons of Canadian shoppers wanting to use their chip/tap cards.

Debit cards weren't even common down there until recently. They tended to use credit cards, or even cheques. The fact that there's only a handful of banks in Canada made the Interac alliance possible, which has made debit popular for 20+ years.

Yes, they get Apple Pay before we do, but it's also dragging them out of the stone age.

 

[coolspot18]

so annoying with these banks, why isn't my fingerprint good enough? why worry and just try to delay something and try to milk more money.

Because Apple's finger print technology is ON DEVICE - the banks have no guarantee it is secure. It is like handing the keys to your car to a friend, but your insurance is responsible for any accidents. If there were a hack, the banks would ultimately be responsible for the money - Apple will wash their hands of the incident.

 

[hogo-fogo]

No, thanks

It doesn't cost you anything.

Are you really so naive to think the fees aren't passed to us - customers?

 

[BSben]

I wouldn't get your hopes up. UK Banks are not at all happy with Apple Pay's security or the amount of personal information being exchanged. I highly doubt our banks will give any control over to Apple. And rightly so.

I wonder why you would trust a UK bank in the first place, is your memory that short? I would happily switch to any bank that lets me use Apple Pay. I trust Apple over my bank any day.

 

[aristobrat]

I still don't get why Apple didn't roll this out here first. Pretty much every single terminal I encounter on a daily basis has NFC built in unlike in the US.

EMV (chip and pin) hits the US <for retailers> this coming October.

As of last summer, it seemed like very few US retailers had PIN pads (terminals) that were EMV capable.

This means quite a few US retailers will be busy this year, replacing their old PIN pads with new models that can take EMV.

By launching Apple Pay in the US first <last year>, around the same time US retailers were starting to make plans to buy new EMV-capable PIN pads <for this year>, I think Apple probably changed the minds of a few retailers who weren't initially planning on spending the extra $$ to also include NFC in their new PIN pads.

 

[macmurray]

Yes, absolutely. Banks will simply pass that fee to us - customers. Surely, not in a plain sight, well hidden in "monthly fees" for bank account or something like that...

Just keep the minimum balance in your account to waive the monthly fees, or bank with a no-fees bank like Tangerine or PC.

I can't remember the last time I paid a fee to Scotiabank.

 

[laurim]

Are you really so naive to think the fees aren't passed to us - customers?

Whatever. Every time I pay by credit card there's a processing fee paid by someone somewhere and you can argue that cost gets passed on to me somehow. Same old, same old. If you worry about all the ways the cost of something new can get passed on to you, you'll go crazy. I don't think you understand that accepting ANY kind of credit card transaction costs the merchants a processing fee. That's why so many merchants try to force a minimum credit charge and why cab drivers hate accepting credit cards for a small fare (besides the fact that it's a delayed payment for them).

 

[hogo-fogo]

Just keep the minimum balance in your account to waive the monthly fees, or bank with a no-fees bank like Tangerine or PC.

I can't remember the last time I paid a fee to Scotiabank.

There is no guarantee that APay will be available on "no fee" credit cards. Or maybe initially, but its pretty possible that latter only "annual fee" credit cards may be eligible to register with APay.

 

[laurim]

Just keep the minimum balance in your account to waive the monthly fees, or bank with a no-fees bank like Tangerine or PC.

I can't remember the last time I paid a fee to Scotiabank.

Exactly. I've used ApplePay a few times and it didn't cost me anything extra. And I pay the balance on my credit cards every month so no interest fees there, either. My checking account also has no fees (except for the usual overdraft, buying new checks-type stuff)

 

[LordVic]

Just keep the minimum balance in your account to waive the monthly fees, or bank with a no-fees bank like Tangerine or PC.

I can't remember the last time I paid a fee to Scotiabank.

Bank fee's are unnecessary. I wish more people would switch away from the big 6.

TD for example hit

all those "fees' that are required? TD made an estimated 9 Billion in PROFIT in 2014. on a Total of 30Billion Revenue

of that 30b, 2b was from service fees.

so if they didn't take those service fees from your account?

they still would have earned approximately 6+ Billion in profit.

They outright lie to the public when any of these big banks claim they have to charge your service fees to maintain business.

its gauging. pure, unadulterated gauging. And I wish the bloody politicians who are corrupt would GTFO and someone would finally address this.

 

[laurim]

There is no guarantee that APay will be available on "no fee" credit cards. Or maybe initially, but its pretty possible that latter only "annual fee" credit cards may be eligible to register with APay.

None of my credit cards have annual fees. I refuse to own any that do.

 

[macmurray]

None of my credit cards have annual fees. I refuse to own any that do.

Earlier in this thread I spoke about a great cash back card that I have that has a $130 annual fee between our two cards. We filter all of our spending through it and net about $800 in cash back every year. Pay it off every month and don't pay any interest. Obviously this isn't typical or they wouldn't offer the card. But there are cases where credit cards with fees make sense as long as you're smart about it.

 

[Totalkharnage]

The only reason this won't be in the UK anytime soon is down to 2 points :

1) Greed of the banks. They don't want to give up any bit of money to Apple regardless of how small it is.

2) They're terrified of Apple getting a foothold into banking which could lead to them eventually being squeezed out and having less control of customer data which they rely on to market products and services to us.

If you want it in the UK go and tell your bank via Twitter, social media etc. and threaten to switch your bank account if they don't get it at launch.

Share everyone's frustrations and we could have it really really soon if only the banks weren't dragging their heels.

 

[Robstevo]

No plans for Australia, Apple?
Arguably we use contactless payment systems more than any other country in the world...

I think that is going to be the major disadvantage for us to be honest, the banks don't NeedApple, Apple need the banks.

We already have all our cards with NFC capabilities, some phones can use it for payments already as well.

Why would the banks give Apple a fee when they already have a very successful model in place? Apple won't be able to demand ****

I think in realty Apple shouldn't be taking any fee anyway, they should use the Apple pay feature of the iPhone to Intice people to buy the iPhone, and not try and make another dime with it.

 

[laurim]

Earlier in this thread I spoke about a great cash back card that I have that has a $130 annual fee between our two cards. We filter all of our spending through it and net about $800 in cash back every year. Pay it off every month and don't pay any interest. Obviously this isn't typical or they wouldn't offer the card. But there are cases where credit cards with fees make sense as long as you're smart about it.

The card I use the most is a travel rewards card that has no extra fees when I use it for international purchases. I get $1 off a travel-related charge for every $10 I put on the card and if I arrange flights with their crappy agency website I get $3 rewards credit for every $10 of the fare. I'm up to almost $800 with the promo amount for signing up. It also has a chip which I thought meant it was a chip and PIN so I could use it at machines in Europe for buying tickets but it's a chip and signature so it doesn't work for that Anyway, I suppose there might be a fee card that would work out if I charge enough but I look at more features than just that.