Following Canadian Expansion, Critics Point to Drawbacks of Apple Pay
Mobile Payment Tool May Not Live Up to the Hype, Warns Canadian FinTech Company
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 06/07/16 -- Earlier this month, Apple Pay increased their presence in Canada by signing on two major Canadian banks (RBC and CIBC), along with two additional financial institutions (ATB Financial and Canadian Tire Financial Services). The new partnerships follow Apple Pay''s official launch into Canada last year, through collaboration with American Express.
The expansion now allows consumers to upload credit card information to their smartphones to use at retailers and restaurants, but critics suggest the tool may prove less useful than the hype around it suggests.
Since launching in the United States in 2014, , indicating relatively low adoption rates. While Canada''s early implementation of suggests a favourable environment for Apple Pay, the system''s inherent shortcomings remain the same.
Rod Hsu, President of nTrust, a Canadian FinTech company, points out several drawbacks that may prevent the payment tool from gaining mass traction:
According to Hsu, Apple Pay has the potential to encourage wider adoption of tap-and-pay technology by both merchants and consumers. However, improving overall usability is necessary for Apple Pay to truly excel in Canada.
About nTrust
nTrust is a rapidly growing online and mobile money transfer platform that helps people around the world instantly move and access their money. Using nTrust, members can send money to friends, cash out to their bank account, spend money through their phone, or load funds to a prepaid card to use anywhere the MasterCard® Acceptance Mark is displayed, online or in-person. nTrust''s proprietary technology uses the highest encryption standards and is "PCI-DSS Level 1" certified, which remains the top global standard for operational and technical security designed by Visa, MasterCard®, and American Express.
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Datum: 07.06.2016 - 07:00 Uhr
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