Interac Association/Acxsys Corporation ("Interac"), Canada's domestic debit network, is pleased to announce the participation of additional financial institutions offering Apple Pay to Interac debit cardholders.
Interac debit cardholders from BMO Financial Group, Scotiabank and TD can now use Apple Pay on supported Apple devices to make easy, secure and private contactless debit transactions when shopping at hundreds of thousands of merchants coast-to-coast. Today's announcement follows last month's launch of Apple Pay for Interac debit cards issued by CIBC and RBC.
"Today's announcement brings mobile payments to the mainstream, with Canada's five largest financial institutions now offering Apple Pay to Interac debit cardholders," said Mark O'Connell , President and CEO, Interac Association and Acxsys Corporation. "With Canadians using Interac Debit more than any other payment card combined, the rollout of Interac on Apple Pay addresses the consumer demand for innovative payment solutions that enable Canadians to make purchases using their own money."
"We've heard from Interac debit cardholders across Canada who are eager to use Interac with Apple Pay," said Avinash Chidambaram , VP, Product and Platform Development, Interac Association and Acxsys Corporation. "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."
The rollout of Apple Pay for Interac debit cardholders follows the introduction of a number of new offerings by the Interac brand, such as Interac e-Transfer bulk disbursements and the Interac Token Service Provider (TSP). New solutions, leveraging the Interac TSP, are planned for the future. For example, Canadians will soon be able to use Interac for payments within merchant applications that use Apple Pay, meaning they can make In-App digital debit transactions securely and conveniently.