NFC Times Exclusive Insight – One of Canada’s big five banks, CIBC, launched Samsung Pay this week, making its Visa-branded credit cards available as part of an “early-access” launch that Samsung itself hasn’t yet announced.
Other issuers are expected, though Samsung trails well behind Apple, which launched Apple Pay in Canada with American Express a year ago and with CIBC and other big five banks last spring. Apple Pay now has 10 issuers in Canada and support from four networks, Visa, Mastercard, American Express and Canada’s largest debit card scheme, Interac.
The planned launch in Canada had been rumored for weeks, but Samsung did not mention it late last month when it issued a release saying it would launch in three new countries by the end of the year, Russia, Thailand and Malaysia. These will bring Samsung Pay’s total to 10 countries and 11 markets, counting Puerto Rico. Russia has already launched.