The Apple Pay technology system first launched last year. It works by asking users to upload credit and debit card information to a “mobile wallet.” This wallet allows customers to purchase goods using their iPhone 6 or 6s or Apple Watch.
The system has already been launched in the UK and US but only works at those outlets that have registers equipped with the NFC compatible technology.
Having arrived in Canada exclusively for American Express customers, it’s unknown when the service will expand to other cardholder companies.
Many banks aren’t completely sold on the idea because of the fees associated with the payments and the unlikeliness that this payment method will help boost bank’s revenue.
However, it is thought that TD is on board after a website slip last month. The TD website briefly displayed a link to an Apple Pay page. The link has since disappeared and TD says it was merely preparing for the arrival of the mobile wallet so we can expect the TD customers to join those Amex customers already in the Apple club.
So far Apple have yet to release any figures citing the usage of the pay system.
However, Pymnts.com released a survey that found only 83% of Americans who could use Apple Pay haven’t tried it. With the system also only available to limited users in Canada, it doesn’t seem that the Apple Pay phenomenon will be sweeping the country as quickly or as forcefully as previously thought. Visa and Mastercard can breathe a sigh of relief.