(Reuters) - Apple Inc (AAPL.O) is planning to launch its electronic payments service in Canada in November, the first international expansion of Apple Pay, the Wall Street Journal reported, citing people familiar with the matter.
The iPhone maker is in talks with Canada's six biggest banks, Royal Bank of Canada (RY.TO), Toronto-Dominion Bank (TD.TO), Bank of Nova Scotia (BNS.TO), Bank of Montreal (BMO.TO), Canadian Imperial Bank of Commerce (CM.TO) and National Bank of Canada (NA.TO), the people told the Journal. (on.wsj.com/1CTTL1w)
The banks are open to an agreement, but are not happy with Apple’s fee proposals and are worried about security vulnerabilities like the ones that U.S. banks experienced, the Journal said, citing the people.
It was still unclear if all six Canadian banks would launch Apple Pay at the same time, the Journal said.
Apple launched the service, a mobile payment app that allows consumers to buy things by holding their iPhone6 and 6 Plus devices up to a reader, in the United States in October.
Reporting By Manya Venkatesh in Bengaluru; Editing by Savio D'Souza