MasterCard has announced that its cardholders in Canada will get Apple Pay. It will work in stores with Apple iPhone SE, iPhone 6s, iPhone 6s Plus, iPhone 6, iPhone 6 plus and Apple watch.
MasterCard Credit Card holders banking with Bank of Canada (RBC), Canadian Imperial Bank of Commerce (CIBC), Canadian Tire Bank and ATB Financial can start using Apple Pay from today itself. Cardholders of BMO Financial Group (BMO) will be able to use Apple Pay in coming weeks.
Apple Pay leverages MasterCard’s MDES (MasterCard Digital Enablement Service) secure platform and makes use of advance payment technologies like EMV, tokenizations, cryptography and biometrics.
No actual card numbers are stored when users uses MasterCard with Apple Pay. A special token made up of 16-digit number is created and linked to the device. It will b e used when paying with the device.
Jason Davies, Vice President of Digital Payments for MasterCard Canada.
We’re excited to work with Apple to bring a new way to pay that eliminates something many of us dislike: carrying a bulky physical wallet. Apple Pay allows consumers to pay with their iPhone – an item most of us wouldn’t think to leave home without, Thanks to our contactless footprint, our cardholders can tap their Apple devices to pay across the country. This innovation is part of our commitment to offer Canadians convenient, fast and secure payment options.
At the heart of mobile payments is the peace of mind that comes with knowing transactions are protected with the highest level of security. Consumers want the same peace of mind when using Apple Pay that they’ve enjoyed for years with their plastic MasterCard. With the mobile security measures built into Apple Pay, cardholders can be assured that they’re fully protected[/notice]