Apple Pay adds support for 21 U.S. banks, HSBC in Australia

Posted:
in iPhone edited May 2017
Overshadowed by Apple's earnings call for the second fiscal quarter of 2017, Apple Pay on Tuesday officially added support for 21 new U.S. financial institutions, as well as HSBC for Australian customers.




As usual, a bulk of Apple Pay's latest additions are local banks and regional credit unions serving less populated areas of America. Apple is slowly filling in the gaps after landing deals with a wide selection of national institutions in and around Apple Pay's launch in 2014.

Today's U.S. extension of services includes the following banks:
  • 1st Constitution Bank
  • Alerus Financial N.A.
  • Bank of Cashton
  • Bank of New Mexico
  • BankStar Financial
  • Central National Bank & Trust Company
  • Chevron Federal Credit Union
  • Citizens Community Bank
  • Connexus Credit Union
  • DATCU
  • Department of Commerce Federal Credit Union
  • First Bank Blue Earth
  • First National Bank of Pana
  • First US Community Credit Union
  • Legacy Bank
  • Manasquan Bank
  • Market USA Federal Credit Union
  • Midstates Bank N.A.
  • Security State Bank of Hibbing
  • Skyward Credit Union
  • The Bank of Bennington
  • Two River Community Bank
Alongside Apple Pay's stateside expansion, HSBC customers living in Australia can now provision their Mastercard or Visa credit cards for use with iPhone, Apple Watch and Mac.

Apple Pay has seen accelerated growth over the past year with major launches in Japan and Spain. The fledgling payments product also bolstered support in Russia, as well as vital market additions in China and Singapore.

During an investor conference call on Tuesday, Apple CEO Tim Cook said Apple Pay transactions were up 450 percent year-over-year for the three-month period ending on April 1. The payments solution is part of Apple's services arm, a source of consistent revenue growth that jumped 18 percent in the most recent quarter.

Comments

  • Reply 1 of 8
    robertwalterrobertwalter Posts: 261member
    I'm following two credit unions that have been anticipating offering Apple for some time now. 

    One being a large university related cu the other being a smaller medium sized one. 

    I've been told that their applications have been in at Apple for some time. I'm surprised at how long it takes for the two parties to come together. 
  • Reply 2 of 8
    applesauce007applesauce007 Posts: 1,609member
    And the hits just keep on coming!
    Go Apple Go!
    watto_cobra
  • Reply 3 of 8
    kupuakupua Posts: 5member
    What's the point of bank and institutions picking this up? Am I missing something?  I don't see the relevance.  Apple pay is a POS transaction that one benefits from.  Apple pay is for the most part is insignificant.  I like to use it but not many places accept it.
  • Reply 4 of 8
    radarthekatradarthekat Posts: 3,093moderator
    kupua said:
    What's the point of bank and institutions picking this up? Am I missing something?  I don't see the relevance.  Apple pay is a POS transaction that one benefits from.  Apple pay is for the most part is insignificant.  I like to use it but not many places accept it.
    This is one aspect of how the smartwatch will eventually replace your entire wallet and the keys you carry.  And when that day comes, pretty much everyone in the developed world will wear a smartwatch or other wearable that encapsulates all those items we 'used to' carry around in pockets.  "Pockets?  What are those?," future generations will ask.  
    jbdragonwatto_cobra
  • Reply 5 of 8
    hentaiboyhentaiboy Posts: 973member
    This is one aspect of how the smartwatch will eventually replace your entire wallet and the keys you carry.  And when that day comes, pretty much everyone in the developed world will wear a smartwatch or other wearable that encapsulates all those items we 'used to' carry around in pockets.  "Pockets?  What are those?," future generations will ask.  
    Pockets are for carrying phones of course
  • Reply 6 of 8
    macxpressmacxpress Posts: 4,896member
    kupua said:
    What's the point of bank and institutions picking this up? Am I missing something?  I don't see the relevance.  Apple pay is a POS transaction that one benefits from.  Apple pay is for the most part is insignificant.  I like to use it but not many places accept it.


    Nothing else needs to be said....
    edited May 2017 jbdragonwatto_cobra
  • Reply 7 of 8
    jbdragonjbdragon Posts: 2,134member
    I use Apple Pay all the time with my Apple Watch. It's great and the places it works at keeps growing. Keep a look out for the NFC symbol which looks like the Wifi signal on your phone turned sideways. This is what I generally see more of then anything saying Apple Pay. Most of the time it works for me. The rest of the time it's disabled. I'll generally try it and see if it works. I'd rather use it as that way they don't have my credit card info on file. It's much better secured and they can't track my spending habits unless I put myself on their database by using a rewards card or entering my phone number or something like that.
    watto_cobrasteveau
  • Reply 8 of 8
    steveausteveau Posts: 238member
    jbdragon said:
    I use Apple Pay all the time with my Apple Watch. It's great and the places it works at keeps growing. Keep a look out for the NFC symbol which looks like the Wifi signal on your phone turned sideways. This is what I generally see more of then anything saying Apple Pay. Most of the time it works for me. The rest of the time it's disabled. I'll generally try it and see if it works. I'd rather use it as that way they don't have my credit card info on file. It's much better secured and they can't track my spending habits unless I put myself on their database by using a rewards card or entering my phone number or something like that.
    I'm just back from a week in Sydney (Australia, not Nova Scotia) and it was great to use Apple Pay with an Amex CC to Tap&Pay for all of my expenses. There was only one establishment that didn't accept Amex, otherwise it worked everywhere. As jbdragon says, it makes it easy to check one's expenses (although I'd like to see an app that gave me a running total per day/week/month). Along with Amex and ANZ, the addition of HSBC to the club must put more pressure on CBA, NAB and Westpac. I wonder which of the big three will be the first to eat humble pie and come on-board?
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