Apple Pay adds 26 new banks including Moody National Bank in Texas

Apple's mobile payment service, Apple Pay, has added 26 banks today to the list of financial institutions that support the service. Besides the number of regional banks added, one of the biggest banks in Texas joined as Moody National Bank is now a supporting member of Apple Pay. The Texas based bank is one the biggest in Texas (where everything is bigger) with branches in Houston, Galveston, and Austin.

Apple Pay has been growing by leaps and bounds, and for Apple it is a source of income that practically drops straight to the bottom line. Apple is believed to receive .15% of the value of each Apple Pay transaction that uses a credit card. And it receives half-a-penny for each debit card transaction assisted by Apple Pay no matter the value. Think about all of the daily transactions that add up to money in Apple's pocket. In case you were wondering, Apple gets paid from the bank involved in a specific transaction.

The new banks added to Apple Pay today include:

• Arsenal Credit Union

• Bank Midwest

• Bank of Canton

• Bank SNB

• Bankers' Bank

• Bremer Bank N.A.

• Bruning State Bank

• Citizens Bank of Cumberland County

• Fairfield County Bank

• Family Horizons Credit Union

• Firefighters First Credit Union

• First National Bank Arcadia

• First National Bank in Staunton

• Fort Sill Federal Credit Union

• HawaiiUSA Federal Credit Union

• IAA Credit Union

• Moody National Bank

• North East Texas Credit Union

• Northbrook Bank & Trust Company

• Northern United Federal Credit Union

• Peoples State Bank of Munising

• Redwood Capital Bank

• Rogue Credit Union

• Sierra Central Credit Union

• TriStar Bank

• Vermilion Bank                  

source:  AppleInsider