Interac Association/Acxsys Corporation (Interac), a domestic debit network in Canada, has announced that the customers with Interac debit cards issued by RBC and CIBC can now make purchases with Apple Pay.
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Interac has said that the mobile payment system will support the cards issued by BMO Financial Group, Scotiabank and TD in the coming months.
Apple Pay enables users to upload credit and debit card information to their smartphones and use it at stores and restaurants where contactless payments are accepted to make purchases using supported Apple devices.
To make every transaction secure, each Apple Pay transaction is validated with a one-time unique token (a dynamic security code) using the Interac Token Service Provider (TSP) service.
Interac president and CEO Mark O’Connell said: "Apple Pay is an innovative, secure and convenient mobile payment method that will help further the growth and evolution of digital debit payments in Canada.
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By GlobalData"Interac, when paired with Apple Pay, will bring mobile payments into the ‘everyday’ and allow Canadians to experience enhanced simplicity and ease when paying with Interac."
