Apple Pay’s international expansion will start this fall with Canada

Apple Inc. is planning to launch its mobile payments service in Canada this fall, marking the start of its international expansion of Apple Pay, according to people familiar with the matter. The company is in negotiations with Canada’s six biggest banks about a potential November launch of the service which would enable mobile payments for both credit and debit cards using iPhones and the forthcoming Apple Watch, those people said. The banks are open to an agreement, but they aren’t happy with Apple’s fee proposals and are concerned about security vulnerabilities like the ones that U.S. banks experienced as they rolled out the service, the people said. Lenders in discussions with Apple include Royal Bank of Canada,Toronto-Dominion Bank,Bank of Nova Scotia,Bank of Montreal,Canadian Imperial Bank of Commerce and National Bank of Canada, the people said. Together, those banks account for more than 90% of retail bank accounts, which could provide Apple with near ubiquity upon launch if final agreements are reached.