Apple adds UBS, 29 other financial institutions to Apple Pay roster
Apple on Tuesday added another 30 institutions to the list offering credit and debit cards with support for Apple Pay, the most prominent being the U.S. branch of UBS, a Swiss banking and investment firm primarily serving rich and institutional clients.
The majority of the additions are credit unions, spread across multiples states. Some examples include the Mayo Employees Federal Credit Union, USC Credit Union, and New England Federal Credit Union. Another is Apple Federal Credit Union, a North Virigian institution unaffiliated with the Mac and iPhone maker.
A complete list of the new entries can be seen below:
The majority of the additions are credit unions, spread across multiples states. Some examples include the Mayo Employees Federal Credit Union, USC Credit Union, and New England Federal Credit Union. Another is Apple Federal Credit Union, a North Virigian institution unaffiliated with the Mac and iPhone maker.
A complete list of the new entries can be seen below:
- Alaska USA Federal Credit Union
- Apple Federal Credit Union
- Capital City Bank
- Changing Seasons FCU
- City National Bank
- Educational Systems FCU
- Granite Credit Union
- Great Basin Federal Credit Union
- Greater Texas FCU
- Hoosier Hills Credit Union
- Hughes Federal Credit Union
- iQ Credit Union
- KEMBA Financial Credit Union
- Landmark Credit Union
- Legend Bank
- Mayo Employees Federal Credit Union
- Mercantile Bank of Michigan
- MIDFLORIDA Credit Union
- New England Federal Credit Union
- People's United Bank
- Peoples Bank
- Town & Country FCU
- Town Square Bank
- Transportation FCU
- True North Federal Credit Union
- UBS Bank USA
- Veridian Credit Union
- Waukesha State Bank
- Western Federal Credit Union
Comments
this is also significant: squareup takes applepay starting in september
never mind. my bad
Square accepting ApplePay is very significant.
I like their design better than the some of the clunky NFC card readers with the keypads.
Square accepting ApplePay is very significant.
I like their design better than the some of the clunky NFC card readers with the keypads.
plus this also accepts chip & pin cards as well. I believe all USA cards have to be chip & pin by 2016 (or is it 2017?)
it will be ironic if I can accept applepay before my credit union does.
This. Neither my credit union nor the credit union network partners in another state that I often deal with have Apple Pay yet. We're almost one year on, what's the hold up?
plus this also accepts chip & pin cards as well. I believe all USA cards have to be chip & pin by 2016 (or is it 2017?)
it will be ironic if I can accept applepay before my credit union does.
In the US they are using "Chip and Signature" I believe. Merchants need to be able to process the chip cards by this Fall or they will have to bear the complete burden of fraudulent purchases. "Chip and Signature" seems to not be a very big upgrade from the current system as no PIN is needed.
Several of my credit cards (US) now are chip capable but I never have to use a PIN and in fact was not given one.
Are you serious?! What's the point of having the chip then? Tests have already shown those bloody things broadcast their data in the open with no encryption, so if there's no PIN attached, hackers and theives will have a field day!!!
Why is the USA so bloody behind the rest of the world? It's fucking embarrasing!
Are you serious?! What's the point of having the chip then? Tests have already shown those bloody things broadcast their data in the open with no encryption, so if there's no PIN attached, hackers and theives will have a field day!!!
Why is the USA so bloody behind the rest of the world? It's fucking embarrasing!
Wrong. The pin only protects against somebody using your card in person if somebody finds it on the street. This is only a small portion of fraud. If somebody found your PIN protected card, they'd simply spend online.
Without the pin, your card is still protected against cloned in-person purchases. There is a weakness in the EMV standard that allows pin bypass in certain cases anyway.
The glaring hole in EMV as you mentioned is it does nothing to protect your credit card number and expiration date, pin or no pin. It offers minimal protection against a Target or Home Depot style breach.
The issue with PIN is that PIN traditionally means interbank debit. Interbank debit networks have allowed merchant fees, so many merchants charge $.50-$1 or more. Additionally, you need to enter your PIN to get a cash advance which means big bucks interest. As a result, Americans with have been trained never to enter their pin when making a purchase.
The issue with PIN is that PIN traditionally means interbank debit. Interbank debit networks have allowed merchant fees, so many merchants charge $.50-$1 or more. Additionally, you need to enter your PIN to get a cash advance which means big bucks interest. As a result, Americans with have been trained never to enter their pin when making a purchase.
did you mean "so many merchants are charged $.50-$1 or more"?
i've never been charged extra to use my debit & PIN.
for transactions over $20, it's almost always cheaper for the merchant to accept debit cards (50 cents merchant fee) vs credit cards (2.7% fee or more).
in most cases squareup clears ACH overnight. when I receive payment before 5PM, the money is in my account the next morning.
because I use a credit union instead of a bank, they don't sit on incoming funds for 24 hours before giving me access.
In the US they are using "Chip and Signature" I believe. Merchants need to be able to process the chip cards by this Fall or they will have to bear the complete burden of fraudulent purchases. "Chip and Signature" seems to not be a very big upgrade from the current system as no PIN is needed.
Several of my credit cards (US) now are chip capable but I never have to use a PIN and in fact was not given one.
No one uses the pin. It would be a hassle because people would forget it and it would also be a risk because people can look over your shoulder and learn your pin. Every business needs to move to ApplePay or I will stop buying from them. I let them know this when I go somewhere that does not yet support it.
No one uses the pin. It would be a hassle because people would forget it and it would also be a risk because people can look over your shoulder and learn your pin. Every business needs to move to ApplePay or I will stop buying from them. I let them know this when I go somewhere that does not yet support it.
I think you missed the point. In Europe the Chip cards are "Chip and Pin". You have to use a PIN when using your chip credit card to make it "safer." We are not talking about the use of your American credit card with a PIN to withdraw cash. EVERYONE there uses a Pin. Here it is "Chip and Signature" for the new chip based cards.
(And lots of people use Visa/MC labeled debit cards with a PIN).
No one uses the pin. It would be a hassle because people would forget it and it would also be a risk because people can look over your shoulder and learn your pin. Every business needs to move to ApplePay or I will stop buying from them. I let them know this when I go somewhere that does not yet support it.
Except around here everyone uses the pin for debit/credit... I'm in Canada. Hey! Fees are covered by your monthly banking fees; merchant pays nothing. If you got enough money in the bank, you pay nothing for your debit transaction. Only crappy second rate convenience stores make you pay extra for debit. NFC type purchases are on the way up, but they're still marginal.
For now, I'm elated to use my UBS Preferred Visa with the swanky Apple Watch that took two months to deliver! Best part is the convenience of paying with my wrist at Whole Foods without having to dig through my wallet, and earning double points. Almost have enough for 2 tickets needed for my August Maldives getaway.
did you mean "so many merchants are charged $.50-$1 or more"?
i've never been charged extra to use my debit & PIN.
No, the merchant charges the customer. Some examples I can think of is a Carl's Jr. by my place which charges $1. Many gas stations tack on a a charge, Arco gas stations used to charge $.45, now they charge the credit price when you use PIN debit.
because I use a credit union instead of a bank, they don't sit on incoming funds for 24 hours before giving me access.
Nothing special, my huge bank clears ACH, wires and cash the same day.