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Canadian Credit Unions now offer Apple Pay, An Easy, Secure and Private Way to Pay(December 06, 2017)
Toronto, ON, Dec. 06, 2017 (GLOBE NEWSWIRE) -- Canadian Credit Union Association (CCUA) announced today the following three Canadian credit unions now offer their members Interac Debit on Apple Pay: Affinity Credit Union (Saskatchewan), Conexus Credit Union (Saskatchewan) and Envision Financial, a division of First West Credit Union (British Columbia). Members of these credit unions using iPhone and Apple Watch will be able to make purchases directly from their chequing or savings accounts at retailers displaying the Interac Flash logo. Apple Pay is transforming mobile payments with an easy, secure and private way to pay that’s fast and convenient.
“Apple Pay provides another great digital payment option for Canadian credit union members, allowing them to shop in a way that is easy, convenient and secure,” said Martha Durdin, president and CEO, CCUA. “It is a great example of how credit unions work together to provide their members choice in payments.”
The Canadian credit union sector is continuously looking at ways to provide mobile payment options in response to the continuously evolving member needs. Apple Pay for credit unions is a collaborative development on behalf of some of Canada’s largest credit unions. CCUA works with Interac Association/ Acxsys Corporation, Central 1 Credit Union and Everlink to deliver Apple Pay for credit unions.
“Canadian consumers expect convenience, security and choice when it comes to using Interac Debit and digital payments products,” said Mark O’Connell, president and CEO, Interac Association and Acxsys Corporation. “Extending the reach of Interac Debit on Apple Pay to more financial institutions is an important part of our strategy to offer Canadians even more ways to pay.”
Security and privacy is at the core of Apple Pay. When members use a debit card with Apple Pay, the actual card numbers are not stored on the device, nor on Apple servers. Instead, a unique Device Account Number is assigned, encrypted and securely stored in the Secure Element on your device. Each transaction is authorized with a one-time unique dynamic security code.
Apple Pay is easy to set up and users will continue to receive all of the convenience and bene?ts offered by debit cards. In stores, Apple Pay works with iPhone SE, iPhone 6 and later, and Apple Watch. Apple Pay is simple to use with Touch ID, or just double-click the side button and a user can glance at iPhone X to authenticate with Face ID.
Other Canadian credit unions involved in the development of Apple Pay for credit unions include:
- Assiniboine Credit Union;
- Cambrian Credit Union;
- Chinook Financial, a division of Connect First Credit Union;
- First Calgary Financial, a division of Connect First Credit Union;
- Island Savings, a division of First West Credit Union;
- Libro Credit Union;
- Prospera Credit Union;
- Servus Credit Union;
- Steinbach Credit Union; and
- Valley First, a division of First West Credit Union.
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About Canadian Credit Union Association (CCUA)
Canadian Credit Union Association is the national trade association for Canada’s credit unions and caisses populaires outside Quebec. These financial institutions offer a full-range of retail banking services to over 5.6 million Canadians. Collectively Canada’s 274 credit unions and caisses populaires generate over $6.5 billion in economic impact, are leaders in small business lending, and have assets of over $213.4 billion. For more information, visit www.ccua.com.
About Interac Association and Acxsys Corporation
Interac® is Canada’s leading payment brand. Together, Interac Association and Acxsys Corporation operate an economical, world-class debit system with broad-based acceptance, 24/7 reliability, security and efficiency. The brand is chosen an average of 13 million times daily to pay and exchange money. Interac products and services securely connect people to their money at the ABM through Interac Cash, at retailers across Canada through Interac Debit and the US, and online through web based services – Interac Online for online purchases, Interac e-Transfer for money movement, and Interac e-Transfer bulk disbursement for commercial payments. In addition, Interac Flash®, the secure contactless enhancement of Interac Debit, is in widespread use at retailers across Canada and provides the service for mobile NFC proximity payments. The organization is also a leader in the prevention and detection of fraud.
Canadian Credit Union Association Media Contact:
Janet Gibson Eichner
Interac Media Contact:
*Interac, the Interac logo, Interac Flash, Interac Debit, Interac Online and Interac e-Transfer are trade-marks of Interac Inc. Used under license. * All Interac cardholders are protected from losses resulting from circumstances beyond their control under the Interac Zero Liability Policy. See your financial institution for details.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/1a38baf5-5485-4baa-8ec3-ff9a8999eb57
CONTACT: Janet Gibson EichnerCanadian Credit Union [email protected]