Apple Pay adds 46 new banks & credit unions in the US, passes 400 participating issuers
Apple on Tuesday added 46 more U.S. banks and credit unions to the list of Apple Pay card issuers, pushing the total to more than 425 financial institutions throughout the country.
As with a late July update, Tuesday's additions incorporate a relatively even mix of conventional banks and credit unions. Although some gaps remain, Apple Pay is now widely supported by U.S. banks, including key nationwide institutions.
Even as the platform begins to step foot outside its home borders, many large American retailers have yet to begin accepting it. Apple hopes to address some of its teething issues with this fall's iOS 9 launch, when it will begin supporting Discover cards and various store-branded cards, including loyalty and reward systems.
The full list of new banks includes:
As with a late July update, Tuesday's additions incorporate a relatively even mix of conventional banks and credit unions. Although some gaps remain, Apple Pay is now widely supported by U.S. banks, including key nationwide institutions.
Even as the platform begins to step foot outside its home borders, many large American retailers have yet to begin accepting it. Apple hopes to address some of its teething issues with this fall's iOS 9 launch, when it will begin supporting Discover cards and various store-branded cards, including loyalty and reward systems.
The full list of new banks includes:
- 1st United Services Credit Union
- Align Credit Union
- Atlantic Regional FCU
- Bank of Marin
- Bank of Oklahoma
- Central Pacific Bank
- Community & Southern Bank
- Countryside Bank
- Dominion Credit Union
- DuPage Credit Union
- Dutch Point Credit Union
- Electro Savings Credit Union
- First Bank of Dalton
- First Clover Bank
- First Collinsville Bank
- First County Bank
- First Midwest Bank
- First National Bank and Trust
- First National Bank of McGregor
- First State Bank Nebraska
- Greater Iowa Credit Union
- Gulf Coast Educators FCU
- HarborOne Bank
- Horizon Bank
- Illinois National Bank
- Jax Federal Credit Union
- LGE Community Credit Union
- Meadows Credit Union
- Meridian Trust Federal Credit Union
- Metro Health Services FCU
- MidFirst Bank
- Northwest Federal Credit Union
- Premier Bank
- SAC FCU
- The Bank of Commerce
- The Cooperative Bank
- The Paducah Bank & Trust
- Thomaston Savings Bank
- TTCU The Credit Union
- UniBank for Savings
- United Bank
- US Community Credit Union
- USE Credit Union
- USF Federal Credit Union
- West Alabama Bank & Trust
- Westerra Credit Union
Comments
....and zero new retailers.
I really hope our Canadian banks can get with the program too.
....and zero new retailers.
Yeah, it’s all over for Apple Pay. /s
Is that what he meant? It's neither a deal breaker or an issue less than one year after its announcement. With 71 currently active and 27 coming soon (not including iOS apps), I think that's damn good for this timeframe for a world changing service, but I would like to see the adiption rate for B&M stores start to grow exponentially.
Is that what he meant? It's neither a deal breaker or an issue less than one year after its announcement. With 71 currently active and 27 coming soon (not including iOS apps), I think that's damn good for this timeframe for a world changing service, but I would like to see the adiption rate for B&M stores start to grow exponentially.
I firmly believe when ApplePay is common in necessary - and less public congested - areas like gas stations, it will really take off from there. I think many people don't want to fiddle with it at a grocery-store for fear something would not work quite right and then they worry about holding up the line.
At a gas station when you're more by yourself and not really impacted by people waiting directly behind you it will give them a bit of breathing room to try it out and get used to it so when it comes time to do the quick checkout, they are fully-versed in how it works.
I know Chevron has an Apple-Pay station near their headquarters in San Ramon, but heck... start pushing those things out! When Chevron, Shell, Unocal 76, BP, etc are all on board and commonplace, usage will just skyrocket.
And CurrentC will be left on the vine to rot, alongside SamsungPay.
1) I believe that in 5 years the fringe comment will go from, "Oh look, they accept Apple Pay," to, "What do you mean you don't accept Apple Pay?"
2) I do a lot of people with iPhone 6 series that haven't even set up Apple Pay, but that's fine, too. As previously stated, it was only announced less than a year ago and their current progress is excellent for this time frame.
Isn't Discover Card eligible yet? Even the ApplePay has Discover card picture on their app... and yet my Discover card doesn't work with it yet...
Discover has promised support coming this fall.
Yeah, it’s all over for Apple Pay. /s
Is that what he meant? It's neither a deal breaker or an issue less than one year after its announcement. With 71 currently active and 27 coming soon (not including iOS apps), I think that's damn good for this timeframe for a world changing service, but I would like to see the adiption rate for B&M stores start to grow exponentially.
What I meant is that the expansion/adoption of Apple Pay rests solely on its availability at retailers small and large, and it makes no difference if Apple continues to add more and more banks.
Even if Apple Pay were limited to the top 5 banks/major credit cards....it would still be in the hands of 90% of potential users. The lack of any significant progress made in the retail space inside of 1 year makes it hard to see where the momentum is.
I think you're being waaaay too impatient for such a massive undertaking. The banks have to come first. Now, if there are no more retailers that come onboard, then sure, we can then say it's not going to work, but do you think that is likely? I don't.
I just saw this last sentence.
Your reasoning is absurd if you think that their efforts in less than a year, after so many failed attempts by others, to update this insecure system is insignificant. They have to get financial institutions, multinational banks, and retailers to all agree to not only agree to Apple's solution, but then update policies and HW to adopt it, even at the expense of directly hindering how they gather information on customer habits. And all that had to happen after Apple had their HW, SW, Services, policies, and an entire framework in which all can build upon in place. This is beyond brilliant and extremely successful for how long it's been available.
This is beyond brilliant and extremely successful for how long it's been available.
Yes I would agree with that. This is without a doubt the next 'way' people pay, like swiping the card became. And Apple Pay will surely be the catalyst that gets it going. I think I expected more announcements of new retailers, the way we get these bimonthly reports on the 20 or 50 new banks Apple has signed up. The speed of that part determines the speed of everything else.
I just expected more speed than we've seen there.
With that said, Apple Pay, CarPlay, and HomeKit are all current examples of initiatives from Apple that give up a ton of control in the hardware space and we're seeing the effects that has on a venture.
EDIT: I shouldn't say, "give up" I should say "necessarily not in control of".
Within 5 years I believe we'll look back at Apple Pay and think, "Holy crap, that was an amazing at how quickly Apple changed landscape of payments!"
Just think about how slowly the iPhone took off in unit sales to what it ended up after 5 years on the market. I think Apple Pay will be MORE impressive, especially with Android Pay (and Samsung Pay(?) and who knows how many other services piggybacking on the open foundation set forth by Apple*.
This is a platform-agnostic revolution where the customer and banks both win and identity thieves lose. Some retailers might not like how this makes their data gathering more difficult, but they have no choice as they can't reasonably fight a battle on two fronts so they will adopt it or risk losing business.
* Some anti-Apple commenters might chime in to at that Apple wasn't the first to use this or that, and it'll most likely be true, but this iscommon with Apple and that is where they shine best. They once again took some confusing, half-assed concepts, and made it into a seamless, efficiency and secure system that had never before existed. That's why Google Wallet "coincidently" was renamed Android Pay and changed up everything to mirror Apple Pay.
We have had contactless for the best part of 3 or 4 years so most retailers accept Apple Pay by default
I see what you're saying, but the US makes the most sense for this "domino effect." Having Australia's retailers almost entirely onboard immediately wouldn't be that great if 1) they can't their banks onboard, and 2) that would mean the US wouldn't care.
Besides its financial and consumer size for Apple, global mindshare, the US makes the best choice, especially with the US retailers needing to get new HW* (which is happening this year because of new laws coming into effect).
Didn't Austalia grow out a full network of fast DC-HDSPA which Apple didn't support to years, even though they started selling a Verizon iPhone 4 which archaic CDMA? If I have that right, that should say something about Apple's focus, and I wouldn't expect that to change to any other nation except for China.
* With places that have the HW, many I've used don't have the right SW for EVM or NFC when I tried to use something other than the magnetic reader.
We have had contactless for the best part of 3 or 4 years so most retailers accept Apple Pay by default