Apple signs up 800,000 new Apple Pay members from Bank of America

Apple signs up 800,000 new Apple Pay members from Bank of America
Bank of America announced on Thursday that last quarter, 800,000 of its customers signed up for mobile payment system Apple Pay. Those people added 1.1 million credit cards to Apple Pay over the same period. There are plenty more Bank of America customers that could be signing up for the feature. After all, the bank has over 60 million clients.

While there are other mobile payment systems, most of them around for a longer time than Apple Pay, the latter has been promoted tirelessly by its partners including Bank of America and Capital One. Both banks have paid for prime time television commercials featuring the tap to pay system. The latest data shows that while Apple Pay has already taken 1% of the market, Google Wallet has 4%. But if the banks continue to market the system heavily, Apple will eventually surpass its rival. Right now the service works only with the Apple iPhone 6 and the Apple iPhone 6 Plus. Once the Apple Watch is launched, the system will work with the Apple iPhone 5s and the Apple iPhone 5 when paired with the timepiece.

Apple Pay currently works with 90% of the top credit cards in the U.S. by transaction volume. Over 500 banks support the service. Soon, Apple will be taking Apple Pay over the border to Canada with a launch in the U.K. expected in the first half of the year.

source: AppleInsider

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10 Comments

1. darkkjedii

Posts: 30833; Member since: Feb 05, 2011

ApplePay is on point.

2. TimCook

Posts: 450; Member since: Oct 23, 2014

Apple is simply the Best.

3. Neros

Posts: 1016; Member since: Dec 19, 2014

Apple are going to milk some serious cash out of their flock (aka sheeple) now, as you have to pay the provision whenever you make a purchase through apple pay. Good for apple, I say.

4. darkkjedii

Posts: 30833; Member since: Feb 05, 2011

Let us worry about our cash, your worry about your allowance.

5. darkkjedii

Posts: 30833; Member since: Feb 05, 2011

You...

8. alumoyo

Posts: 391; Member since: Aug 26, 2013

6. jphillips63

Posts: 253; Member since: Jan 04, 2012

If any of you all have any regards to your second ammendment rights you will not have any dealings with Bank of America. They are trying to shut down the firearms industry by cutting off there ability to fund projects and refuse payments to any firearm related purchases.

9. RebelwithoutaClue unregistered

Good, the less firearms there are in the world, the better.

7. Nathillien unregistered

When people realize that it is easyer to pull out a credit card from the wallet than iPhon from the pocket; the fad will be gone.

10. PhoneCritic

Posts: 1345; Member since: Oct 05, 2011

No, hate against Apple pay but I would caution everyone not to be fooled by Bank of America or Capital one. These are the same banks you will hear of that will have, if not already, huge data breaches. ( and when you complain to them, that you made no such charges, require you to jump through umpteen number of hoops to clear your credit of false charges) So, now not only will hackers ( from North Korea, China, India, Africa, Russia etc.. ) have you card number along with your personal data they will now have your finger print. Apple is already hinting that due to the strong adoption of Apple pay it may move your fingerprint ID to iCloud ( remember the huge breach there?) I would say slow down on this, Apple pay, Google wallet etc.. by just having a separate account (Where you store a small amount of funds like $50.00) that is independent from your actual major account and connected to Apple pay/Google wallet.

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