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

posted by Alan F. / May 03, 2016, 1:46 PM

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

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9 Comments

1. htcisthebest

Posts: 435; Member since: Nov 15, 2011

Still not as good as Samsung Pay.

posted on May 03, 2016, 2:22 PM 1

5. Unordinary unregistered

Hey :) The strip thing is nice and all, but when it supports 400% less banks and cards than Apple Pay, what's the point lol?

posted on May 03, 2016, 9:56 PM 1

2. Landon

Posts: 1244; Member since: May 07, 2015

Samsung Pay added 39 banks today. Where's their article, PA?

posted on May 03, 2016, 3:01 PM 1

6. Unordinary unregistered

Apple Pay added over 100 banks/cards the past few weeks. No articles from PA :)

posted on May 03, 2016, 9:57 PM 1

3. PhoneCritic

Posts: 1354; Member since: Oct 05, 2011

soon these banks will get tired of these additional fees and drop these payment options to cut cost. Because for Banks the bottom line is always what matters and to get as much as they can they begin to weed out all the middle men

posted on May 03, 2016, 3:07 PM 0

4. TechieXP1969

Posts: 14967; Member since: Sep 25, 2013

Still can't use it at 90% of retailers. So I went to Dunkin Donuts yesterday. I use to frequent this DD when our office was a block away. But since moving I hadnt been there. So DD has new terminals now that accept NFC payments. So I put my Samsung up to it and the girls says: Oh that's not goign to work because the only mobile payment we except is Apple Pay. You can see the Apple Pay logo on the digital screen. So I was like...really? So I held it there anyways and it works and she says "OH". So I told her that Samsung Pay works with both the magnetic reader or NFC and will automatically switch to whichever is available on the terminal. But from what I can tell it still use the magstrip side and not the NFC reader. But I loved the look on her face. I liek when people tell me, its not going to work and then..CHA CHING...It does. Kudo to Dunkin for taking both. Kudos to Samsung for using both. So I can have 100% usage in theory while Apple still has only 10% usage capability no matter how many banks it keeps adding. I assume retailer eventually will go NFC.

posted on May 03, 2016, 4:48 PM 1

7. AlikMalix unregistered

You are wrong - I use Apple Pay on 85% of my transactions. Every gas station, supermarket, and fast food places here take it even if they don't have Apple Pay sticker, half don't even know they can accept Apple Pay. Dunkin donuts is not 90% of retailers. I use use Apple Pay at my local oil change even - who are not some franchise. I also use it at local hardware and millwork places who are not franchised. Try an app called "pay finders". It shows general Apple Pay areas where you live, and you can submit places that are not included on the app yet - but they're taking a while to update after you submit - so it's not updated in real time. You're absolutely wrong - it doesn't have to say "we accept Apple Pay " sticker for it to accept Apple Pay - because I'm paying half the times and it shocks people that their POS actually does take Apple Pay. I can absolutely undoubtedly say that you're WRONG, techie!!! I'm using it nearly everywhere.

posted on May 03, 2016, 10:54 PM 0

8. TechieXP1969

So I'm wrong because you're stupid? I said Apple Pay is only accepted at roughly 10% of retailers in the States. How you use it has NOTHING to do with that. If you happen to shop at 80% of that 10%, GOOD FOR YOU. That doesn't make me wrong. It makes YOU look stupid because you are trying to make YOUR usage exceed the facts. You are such a troll, trying to go out of yoru way to prove me wrong, when you are MORE wrong. We arn't talking about YOUR usage or MY usage. I spoke as usage in general. Roughly 10% of retailers can accept Apple Pay while Samsung Pay works with both Magstrip and NFC which means either way, I will get more usage that you. I listed before all the places I frequent in Chicago and less than 5% of them have NFC readers. Dude, you're pathetic. Walgreen's, McDonald's, 7-Eleven and Dunkin Donuts; I know accept NFC and thus Apple Pay will work. Out of the 20 retailers I visit in a given mothn, Apple Pay doesn't work at more than 5 of them. This is based on MY usage. Your usage doesn't change the fact that 10% of retailers in the USA can accapt NFC payments. I never said it had to say - we accept Apple Pay. All it needs to have is the NFC symbol and the vast majority of them don't no matter what YOUR usage is.

posted on May 04, 2016, 8:39 AM 0

9. AlikMalix unregistered

NO!!! I said I'm able to use it at 80% of places I need to shop at... and it does not feel like 10% when you bring your wallet to only HOMEDEPOT... maybe it's 10% officially, but apple pay works plenty in stores that dont know they support it... I'm not stating my usage as fact - i'm stating that you're wrong that apple pay is that limited - using it nearly everywhere....If I owned a samsung, my bank is not supported yet - I have another bank that samsung pay supports but - that's an account for another small business and thats only to cash the checks... so with your favorite mobile pay - i'd be able to sue it 0%...