For quite long, Apple Pay has dominated the mobile payment space in Canada. But as Google looks to be gearing up for an Android Pay support for Interac, Canada’s largest debit card provider, the mobile payment landscape in the country is likely to change in the near future.
The latest version of Android Pay (v1.7.135400734) includes strings of code that contain references to Interac, suggesting that debit card holders in Canada may soon be able to make mobile payments through the platform.
Interac is an interbank network consisting of several financial institutions in Canada, including RBC, CIBC, Scotiabank, TD, and Desjardins. It holds a major chunk in the country’s financial services market as Visa and MasterCard have limited services there.
It’s not clear, however, whether all the major banking firms will support Android Pay or which of them will embrace the platform once it reaches Canada. Although these financial institutions depend on Interac for debit card transactions, each will need to separately sign up for the platform.
Also, there’s no hint about the launch date for Android Pay in the country, as details at this moment are scarce. Nonetheless, Android Pay v1.7 is rolling out as an OTA update to residents in the U.S.