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.Report Typo/Error
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- Bank of Montreal$96.32-0.39(-0.40%)
- Bank of Montreal$76.82-0.05(-0.07%)
- Bank of Nova Scotia$77.79-0.53(-0.68%)
- Bank of Nova Scotia$62.05-0.17(-0.27%)
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- Starbucks Corp$57.98-0.05(-0.09%)
- Updated July 20 9:30 AM EDT. Delayed by at least 15 minutes.