While Android phones are still very much popular among many people, it can’t be denied that Apple products are usually the ones that lead the way. Many people swear by their iPhone and they couldn’t imagine changing it for anything else – well, other than the latest model with the best camera modes. It’s safe to say that high-resolution cameras are only one of the things that make people opt for and stick to Apple’s products, but there are quite a few other things that play a part in the popularity of iPhones – such as Apple Pay. This contactless payment technology has arrived in many parts of the world, including Canada. The story of the Apple Pay evolution in Canada is an impressive tale of innovation, convenience, and inclusivity. Here’s how it goes.
| Table of Contents |
What is Apple Pay?
If you are a user of Apple’s products, then you can rely on Apple Pay – a mobile payment service that aims to make your life (and transactions) easier. You can start using it by opening the Wallet app and adding your credit or debit card to it. As for Apple Pay’s functionality, it’s used for making contactless payments by holding your iPhone near the contactless reader, which significantly simplifies the entire checkout process. Apple Pay will then switch to your default payment card to complete the transaction, keeping you free from the obligation of having to type in your credit card number or PIN code.
---
And here comes the best piece of news. Not only is Apple Pay convenient to use, but it’s also an accepted method of payment in most places nowadays. From online stores to restaurants, bookshops, and real money online casinos that accept Apple Pay, you’ll be able to complete your purchase through your iPhone.
Unfortunately, Apple Pay wasn’t always a handy solution that would help you cut down on the time that got wasted on the checkout process. In fact, it wasn’t until late 2015 that Apple’s users had a chance to use the incredible invention that is Apple Pay – at least when speaking about Canada. But as soon as it hit the streets, this mobile payment service has been a real game-changer.
Apple Pay evolution in Canada
In 2015, Apple Pay became available to people in Canada who had the latest iPhone models. However, at the time, it was only available to those people who had an American Express card. That was soon to change, as Apple Pay expanded to support Visa, Mastercard, and Interac cardholders. The cards had to be issued by the Royal Bank of Canada, Cibc, ATB Financial, and Canadian Tire Bank.
Apple Pay allows you to pay for purchases up to $250 at any business (local or land-based) that accepts contactless payments. Likewise, it’s necessary to mention that there are no fees associated with the charges that you make through your debit card, whether they are made in stores, online, or in apps. However, you will encounter a 3% fee for charges made through your credit card, so keep that in perspective.
Naturally, once Apple Pay first appeared, it wasn’t as used as it is today. Many people still didn’t know about the convenience and existence of contactless payment solutions, although that was to change quickly. Likewise, the number of stores and online places that accepted Apple Pay grew significantly, which is why it’s nearly impossible to find a place that doesn’t accept this payment method.
The Biggest Benefit of Apple Pay for Canadian Users
Many people swear by Apple Pay and similar electronic payment services. However, there are those who believe that online payments can never be as safe as dealing with real-life money. The truth is that whether you are paying your bills, creating a low-budget WordPress website, or buying groceries, Apple Pay is one of the safest payment methods around.
For starters, there’s no risk of losing your money or credit cards, and there’s no risk of those same things being stolen. Secondly, all electronic payment services have worked on safety and security protocols, and they have proper encryption in place. There’s a minimal chance (if any) of your information being stolen or used for the wrong purposes.
Therefore, if you haven’t done it up until now, it’s high time to ditch your real-life wallet and substitute it for an electronic one. It will provide you with a lot less hassle – something we could all use in the 21st century.
Click here to view the full-size image
Comparing Apple Pay With Another Popular Option – PayPal
PayPal could very well be one of the most well-known electronic payment methods around the world. They are also available in more than 200 countries/regions, and they support 25 currencies. In fact, in March of 2022, PayPal was reported to have 429 million active accounts. Apple Pay might be an extremely popular solution, but its user base is nowhere near as big. Thus, one point goes in favor of PayPal.
However, once you compare the fees associated with the transactions, the outcome of the PayPal vs. Apple Pay battle might be prone to change. As you might already know, PayPal allows you to send AND receive money through their service. But when sending or receiving money, PayPal will charge their fixed fee of $2.99 of the total transaction amount. Since you know that Apple Pay transactions that are made through a debit card are free, then it’s obvious which one might be more suitable for you.
We’ll let you decide whether you want to opt for PayPal or Apple Pay, but we will bring the discussion to an end with some statistics. According to a 2019 survey, it was reported that as many as 20.4% of those surveyed had a PayPal app installed on their phones. That number was closely followed by 15.5% of those who opted for Apple Pay. Of course, the Apple Pay evolution in Canada has taken an even more drastic turn since 2019, so it’s highly likely that these numbers have changed in the favor of Apple Pay. You won’t be able to tell which one works better for you unless you try both of these payment services.
