iPhone users are suddenly finding that the Apple App Store isn’t quite as affordable as it was a week ago.

The falling Canadian dollar, nicknamed the “loonie” after the loon image on the coin, has been experiencing a steady drop over the last several months, but mobile apps for iOS devices have maintained the same price.

This has meant that Apple will be hiking prices at the Canadian App Store for the second year in a row.

This means that Canadians can expect their iTunes bills to start to rise along with the prices of mobile apps for their Apple devices. The reason given for the change in price is simply the foreign exchange rates. The company expressed that Canada won’t actually be the only country in which iPhone apps will be getting pricier. Aside from that North American nation, there will also be price increases in Mexico, South Africa, Russia, New Zealand, Singapore and Israel. The notice was given to provide consumers with 72 hours of warning.

The announcement from Apple said there would be two new low-price tiers for mobile apps sold in Canada.

That said, Apple did not use the document to explain precisely what the new price tiers for the sales of Canadian iPhone apps would be. The Next Web has released a report that indicates that where the cheapest apps had been $1.19, those would be increasing to $1.39. While that difference may seem moderate, it is in the more higher-priced mobile applications that the difference would be the most striking. The report indicated that apps that had previously been $50.00 would see a new and much higher price at $69.99.

At the time of the writing of this article, Apple had declined the opportunity to comment on the claims made within the report.

This is the second time that the price of iPhone mobile apps has been recently increased as a result of the falling Canadian dollar. Only a year ago, $0.99 apps saw their prices increased to $1.19, with more expensive apps seeing prices rising correspondingly. At that time, the applications were made more expensive as a result of foreign exchange rates as well as changes to value-added tax (VAT).

Mobile commerce continues to see strong growth throughout the world

The mobile commerce space is beginning to become more attractive to merchants throughout the world. More consumers are beginning to use their smartphones and tablets to shop online and in physical stores. These consumers are taking advantage of services offered by Apple, Samsung, and a variety of other companies. Notably, mobile payments services have been growing in popularity because of their increasingly secure nature, with some services having proven that they can effectively protect consumer information.

Retailers are planning to launch their own mobile commerce platforms

As mobile commerce expands, the number of merchants becoming involved in the mobile space is also growing. Driven by market demands, Walmart recently announced that it will be launching its own mobile payments service. Target has also revealed plans to develop such a platform in order to effectively connect with the growing number of mobile consumers. Both companies see a great deal of promise in the mobile commerce space and intend to capitalize on the growth of this sector in the coming years.

Consumers are still concerned about the security of mobile payments services

Despite the fact that the mobile commerce space is growing, many consumers are unconvinced that mobile payments services are worthwhile. According to recent analysis from Gartner, the majority of shoppers in the United States simply believe that traditional forms of commerce are adequate enough for their needs. Others believe that security faults exist in the mobile commerce space, leaving them exposed to serious digital threats.

Mobile commerce saw spectacular growth in 2015

Last year, mobile commerce saw significant growth, especially during the holiday season. According to a report from eMarketer, some 9.6% of the mobile population in the United States, an estimated 23.2 million people, made a mobile transaction in 2015. The mobile commerce space is beginning to attract a variety of merchants, many of whom have been looking for ways to connect with mobile consumers in a dynamic fashion. This trend is expected to continue into the future, especially as the demand for mobile commerce support continues to grow.