Apple Pay gets major boost in Canada

Apple Pay is expected to gain major momentum in Canada after five of the country's major banks announced partnerships with the mobile payment system.

Though introduced in 2014, Apple Pay had stalled in Canada, where the service was largely reserved for American Express cardholders who make up a small minority of credit cardholders.

But on Tuesday, Royal Bank, CIBC, TD, The Bank of Montreal and Scotiabank announced that they had signed on to the mobile payment system. If they haven't already made the service available (Royal Bank and CIBC) Apple Pay will be rolled out in the coming months.

Apple Pay allows users to upload credit and debit card information to their smartphones and pay for purchases of up to $100.

The service is available on iPhone 6 and iPhone SE.