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What is Apple Pay?
Apple Pay has arrived in Canada! Apple Inc. is now offering Apple Pay is a payment system that operates with mobile payment as a digital wallet service, enabling users to use their iPhone 6 (or any version after that), as well as devices that Apple Watch is compatible with (ie: iPad mini).
By presenting customers the option of uploading their credit and debit card information to smartphones and use it at stores and restaurants (to make purchases of up to $100.00) allows people to leave their wallets at home, resulting in payment that is both easy and secure.
Five major banks recently signed up for partnership with Apple Pay:
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Royal Bank
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CIBC
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Canadian Tire Bank
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ATB Financial MasterCard
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TD Bank (available in next few weeks)
The number of people who support BMO and RBC is massive, so it's likely to expect other banks to adopt the Apple Pay strategy sometime in the near future. As well Bank of Montreal and Scotiabank will release Apple Pay in the next few months. As well, many of Moneris's large customers are enabled and ready to accept Apple Pay in the near future.
