The deal struck with Canada’s five big banks — Scotia, TD, BMO, CIBC and Royal — to accept Apple Pay is no doubt a breakthrough for the phone maker. The banks decided to control as much of the Apple business as possible in Canada by agreeing to a deal rather than making war. It is notable, as reported by BNN, that customers personal information remains in the hands of the banks in such transactions, not to be further exploited by the iPhone mammoth. Good thing. But will this payment option swamp the reliable and easily understood payment methods already in place? If it were somehow perilous or time-consuming to tap one’s MasterCard, maybe. But it isn’t. Analysts count on the quirky need to be fashionable among some as a possible way for Apple to grab a larger share of the market. In surveys, only 11 percent of Canadians say they would consider using it. Apple Pay? Maybe if your phone is your whole life.
