Samsung Pay might be expanding to support Interac and more Canadian banks

Samsung Pay

It looks like Samsung Pay could be coming to more Canadian financial institutions in the near future.

Samsung Pay, which rolled out in Canada in late 2016, is currently only compatible with CIBC Visa Cards through a beta release. However, sources close to the matter say the South Korean tech conglomerate’s mobile payment service could soon expand to include Interac, indicating Samsung Pay soon could be compatible with a number of different Canadian banks, possibly by early September.

Securing Interac compatibility was a key component when it comes to Apple Pay’s Canadian release, allowing the payment platform to work with a variety of Canadian banks, both in terms of credit and debit cards.

Back in March, MobileSyrup reported that Samsung was planning a Canadian expansion of Samsung Pay, though at the time, that expansion did not materialize.

When asked about the possible expansion of Samsung Pay in Canada, Samsung sent MobileSyrup the following statement:

“Thank you for your interest in Samsung Canada. Samsung Pay is available in Canada for select CIBC customers. We look forward to sharing more details about expansion soon.”

Given the recent launch of Android Pay in Canada and the mobile payment platform’s compatibility with most Canadian banks, including the following: BMO, CIBC, Banque Nationale, Scotiabank, Desjardins, President’s Choice Financial, ATB Financial and Canadian Tire Financial Services.

Samsung Pay is compatible with flagship Samsung devices dating back to the Galaxy S6.