Why Apple Pay's Canadian Launch Bypassed Banks

November 27, 2015 17:29 EST • Alexandre Vallières-Lagacé • 1 minute read • Permalink

Rather than allowing negotiations with multiple parties to drag on, Apple decided to partner solely with American Express Co., which will help the company stick to its rumoured timeline of a November rollout in Canada.

This is not the first time I see this. A few months before the photo check, snap a picture of a check to deposit it into your bank account, was released in Canada I looked into the matter and asked questions to a few banks. They all follow the CPA, Canadian Payment Association, guidelines and guess what. If banks stick to the CPA plan, the photo check was not to be introduced before 2018… thank God they did not wait for a “standard” body to approve the feature.

This Apple Pay debacle is going in the wrong direction for both Visa and MasterCard. Instead of focusing on a specific technology they should embrace the best ones and stick with the the one that are really used by customers. Apple Pay and Android Pay are very similar, but that Visa-only solution is not good for anyone.

Or are they too greedy and don’t want to pay the 15% of a cent? That’s 0.12$ on a 100$ purchase, or 0,0015% if you follow.