Tag: canada apple pay

Elavon announces support for mobile payments service from Apple

Elavon, a provider of payment technology in Canada, has announced that it has become one of the first payment processing companies to support Apple Pay for Canadian businesses. This means that Apple Pay will now be able to be used at existing EMV point of sale terminals in Canada. Apple launched its new mobile payments service in Canada late last year, but has yet to find any significant support among consumers. This is similar to what apple is experiencing in the U.S., where mobile payments have yet to become mainstream.

Support may provide Apple with the momentum it needs to find success in Canada

Backed by Elavon, Apple’s mobile payments service may gain the ability to reach more consumers. This may be a boon for retailers using Elavon terminals, as this will allow them to connect with consumers that are becoming increasingly mobile-centric. These consumers are beginning to use their mobile devices to get their shopping done as they see mobile payments as more convenient. Mobile payments are still relatively uncommon in Canada, but consumers are showing a great deal of interest in services that allow them to use their mobile devices as digital wallets.

Apple Pay security features may make consumers feel safer about mobile payments

One of the reasons that consumers in Canada, as well as elsewhere, are somewhat weary of mobile payments has to do with security concerns. In the past, consumers have fallen prey to malicious groups that sought to exploit their financial information, which was acquired through compromised payment systems. Apple Pay, however, has won praise for its security features, particularly its use of biometric technology.

Apple may face competition from other companies that are involved in the mobile payments space

Mobile payments services are likely to gain more momentum in Canada as new services become more available. Apple is likely to experience some competition in Canada, as there are already mobile payments services available in the country. The company may be able to overcome this competition, however, by leveraging the security of its service.

New mobile payments apps are preparing for the launch of the iPhone’s own option.

As Apple Pay is now on its way to Canadian consumers, the UGO mobile wallet is getting itself ready to deal with a market that will have a much larger amount of stiff competition to face.

The mobile wallet was created by UGO Mobile Solutions LP, with the backing of two Canadian banks.

That mobile wallet was first launched in December, and has managed to accumulate 50,000 users since that time, but it is now facing a considerable threat as Apple Pay heads out of the United States and into some additional countries around the world. Users of UGO are able to complete mobile payments transactions through the credit cards that have been issued by either Toronto Dominion Bank or President’s Choice Financial. This allows users to pay for purchases by tapping their NFC enabled smartphones against wireless terminals installed at retail checkout counters. That app also supports the loyalty cards of those retailers.

Now, UGO and other mobile wallets are getting ready to have to contend with Apple Pay, a very large entry.

UGO isn’t alone in facing the Apple mobile payments threat as it enters the Canadian space. Other local players such as Suretap – a mobile wallet created by Rogers Communications Inc, one of the largest wireless carriers in the country – is also finding itself preparing for the change in the competition.

Apple has already sent its mobile payments service into the United Kingdom and is going to take that service into a number of other countries, including Canada, before the end of the year. While many customers are interested in seeing their iPhone 6’s and 6 Plus’s in action at the checkout counter, it has yet to be known exactly how much interest there is in this market space among Canadians.

UGO is geared up to sign up as many active users as it can before the arrival of Apple Pay. Alec Morley, its chief executive officer, explained that the company is currently on track to serve 100,000 unique users by the end of the year, who will be using over 250,000 cards to pay for their purchases through this service.