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A customer uses an Apple Inc. iPhone to pay via the Apple Pay system, from their Nationwide account, at the check-out till in London, U.K., July 14, 2015. (Chris Ratcliffe/Bloomberg)
A customer uses an Apple Inc. iPhone to pay via the Apple Pay system, from their Nationwide account, at the check-out till in London, U.K., July 14, 2015. (Chris Ratcliffe/Bloomberg)

Canadian consumers slow to buy in to mobile payments Add to ...

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When Apple Inc. first elbowed its way into Canada’s mobile payment market in late 2015, it seemed the technology behemoth was reshaping the bond between consumers and financial institutions.

But consumers appear to be adopting mobile payments more slowly than expected.

Apple Pay – which lets users upload credit and debit cards to their iPhones and tap the devices to make purchases of $100 or less – and rival apps from Samsung Electronics Co. Ltd. and Google Inc. have been expanding their reach in Canada. By June of 2016, the five largest banks had all embraced Apple Pay. Despite the initial fanfare around its arrival, take up of the app appears muted so far.

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