Apple Pay now boasts more than 500 US banks thanks to latest round of additions
Apple on Tuesday added 46 US banks to its list of Apple Pay backers, putting the total over 500 for the first time as it prepares to roll out a series of further improvements to its mobile payment platform.
Some important firms in the update include Citizens Bank, E-Trade Bank, and the credit unions for MIT, Johns Hopkins, and McGraw-Hill. Many of the new issuers are highly localized, such as Austin's Amplify Federal Credit Union.
The update is Apple's first since its Sept. 9 press event. That day, Discover announced that its credit cards would be ready for Apple Pay on Sept. 16, alongside iOS 9. On Sept. 11, U.K. banks Lloyds, Halifax, and the Bank of Scotland joined the platform.
When iOS 9 debuts it will usher in other important changes, for instance renaming the Passbook app to Wallet, and implementing support for store credit and rewards cards. iPhone owners will also be able to open Wallet by double-tapping the home button when their phone is locked.
The complete list of new U.S. banks includes:
Some important firms in the update include Citizens Bank, E-Trade Bank, and the credit unions for MIT, Johns Hopkins, and McGraw-Hill. Many of the new issuers are highly localized, such as Austin's Amplify Federal Credit Union.
The update is Apple's first since its Sept. 9 press event. That day, Discover announced that its credit cards would be ready for Apple Pay on Sept. 16, alongside iOS 9. On Sept. 11, U.K. banks Lloyds, Halifax, and the Bank of Scotland joined the platform.
When iOS 9 debuts it will usher in other important changes, for instance renaming the Passbook app to Wallet, and implementing support for store credit and rewards cards. iPhone owners will also be able to open Wallet by double-tapping the home button when their phone is locked.
The complete list of new U.S. banks includes:
- Amplify Federal Credit Union
- Bank of the Ozarks
- Branch Banking & Trust
- Bridgehampton National Bank
- Capital Educators Federal Credit Union
- Centra Credit Union
- Charlotte Metro Credit Union
- Citizens Bank
- Coastal Federal Credit Union
- Credit Union 1
- Dollar Bank, FSB
- Eglin FCU
- E-Trade Bank
- First Community Bank
- First Community Credit Union (OR)
- First Florida Credit Union
- First National Bank of Waseca
- Floridian Bank
- Georgia United Credit Union
- Johns Hopkins Federal Credit Union
- Kennebunk Savings Bank
- Kirtland Federal Credit Union
- Leaders Credit Union
- Maine Savings Federal Credit Union
- McGraw-Hill Federal Credit Union
- Merchants Bank
- MIT Federal Credit Union
- National Penn Bank
- Navigant Credit Union
- Nodaway Valley Bank
- Nymeo
- OU Federal Credit Union
- Pacific NW Federal Credit Union
- Power Financial Credit Union
- Seaboard Federal Credit Union
- SECU of Maryland
- Southern Security FCU
- Southwest Financial Federal Credit Union
- Sterling Federal Bank
- The Cape Cod Five Cent Saving Bank
- The Focus Federal Credit Union
- Trupoint Bank
- UBI Federal Credit Union
- Vinton County National Bank
- Watertown Savings Bank
- Xceed Financial Federal Credit Union
Comments
Just out of curiosity, how many US Banks and Credit Unions are there? What percentage does this cover so far?
Give me more places that take it, and consistency with how the transactions are handled. However, with the rollout of the 6s and 6s Plus, we'll at least see a dramatic increase in the number of iPhones compatible with Apple Pay.
Give me more places that take it, and consistency with how the transactions are handled. However, with the rollout of the 6s and 6s Plus, we'll at least see a dramatic increase in the number of iPhones compatible with Apple Pay.
Agreed. Attempted to use at Rite Aid the other day and the terminal insisted I enter the PIN for my debit card. Clearly something was amiss.
Agreed. Attempted to use at Rite Aid the other day and the terminal insisted I enter the PIN for my debit card. Clearly something was amiss.
Something Apple has little control over. Merchants are implementing the feature as they see fit with their own internal policies. I made a $10 purchase at my local grocery store with my Apple Watch and my bank debit card. The POS (point of sale) terminal made me sign my name too. Stranger still that purchase was made on 8/28 and has yet to show up on my account statement almost three weeks later.
Agreed. Attempted to use at Rite Aid the other day and the terminal insisted I enter the PIN for my debit card. Clearly something was amiss.
That's how ApplePay works with Debit Cards. It requires the PIN just as your card would when using the Debit option which is the default. You can optionally press "Credit" on the POS Terminal to force it to use Credit instead on your Debit card and then the PIN is not required.
TD Bank has been accepting ApplePay for it's cards for a while now. I think it was in December 2014.
Also wondering if Gas Station payment terminals are getting the upgrade from the swipe/insert process that we're using currently?
Yes, but they get an extra two years to comply.
As ChrisInMI said above... there are 6,323 banks in the US.
However... that number does not include credit unions. There are also 6,557 credit unions in the US.
So that's a grand total of 12,880 in the US. So yes... Apple has a long way to go if you look at individual banks and credit unions.
What I'd be interested in knowing is how many people have access to Apple Pay.
If you looked at the top 10 US banks who offer Apple Pay... that's likely a huge amount of the US population. Think of how many customers use Wells Fargo, JPMorgan, Bank of America, etc.
I would also like multinational financial institutions to create a third level of card availability after [I]card present[/I] and [I]card not present[/I] to indicate the extra security and therefor the lowered risk involved for banks, which then will include a lower usage fee for retailers to help push retailers to install terminals that support NFC and advertise it as such.
There are 6,323 FDIC-insured institutions (according to the FDIC.gov web site)....a lot more to go to get all of them onboard.
FDIC are only banks. NCUA lists an additional 6159 credit unions. Then you have bank-like accounts that are uninsured by themselves or insured via SIPC, stuff like Fidelity.
On the other hand, a 3 branch credit union does not actually manage their own money. They are just a retail front. Their money is invested through a Corporate Credit Union (the two largest of which went bankrupt during the financial crisis and took bailout funds exactly like big banks). They also contract with a service provider to do cards, like Co-Op Financial Services, and one big one I can't remember the name of right now.
Yes, but they get an extra two years to comply.
not for inside , only extra 2 years for outside at the pump becausee it takes a while for the bluetooth to get installed on each and every pump.
Agreed. Attempted to use at Rite Aid the other day and the terminal insisted I enter the PIN for my debit card. Clearly something was amiss.
What's amiss are Democrats. Durbin Amendment: debit cards must be able to clear on two unaffiliated networks. The merchant sent your transaction to STAR, which can run over Apple Pay because it piggyback's on Visa's EMV system.
if your Apple Pay card is a check card (does double duty as both a credit card and a debit card), the merchant may opt to run it as a debit rather than credit. debit cards still require PIN entry. there is nothing amiss.
this has zero to do with Apple.