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Apple Pay heads overseas with the help of American Express

American Express customers in Canada and Australia will get access to Apple Pay later this year, with more countries coming on board in 2016.

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Apple Pay works on Apple Watch and iPhones.

Andrew Hoyle/CNET

Apple's mobile payment system is going overseas thanks to American Express.

Apple Pay, which allows you to pay for goods and services at the register with your iPhone, will be made available to American Express customers in Canada and Australia later this year, Apple CEO Tim Cook said during an investor conference call on Tuesday. The company plans to expand into Spain, Singapore and Hong Kong next year.

The partnership could speed the deployment of Apple Pay, which has been available only in the US and UK. The Cupertino, California, company is just one of the major technology players trying to push the idea of your smartphone also serving as your wallet, with similar services offered by Google and Samsung.

Cook was bullish on Apple Pay's continued growth, saying the number of transactions continues to grow by double-digit after each month.

Apple earlier reported fiscal fourth-quarter profits that exceeded expectations despite slightly disappointing iPhone sales.