Fifty one new banks and credit unions join the Apple Pay family

Fifty one new banks and credit unions join the Apple Pay family
Apple added 51 new banks and credit unions today, to the list of U.S. financial institutions that work with Apple Pay. Apple's mobile payment service now supports over 950 such companies. Besides the U.S., Apple Pay is available in the U.K., Australia and Canada,. This year, we should see the service come to Hong Kong, Spain and China.

The new financial institutions include Achieve Financial Credit Union, Advantage Federal Credit Union, Alloy Federal Credit Union, Altoona First Savings Bank, Altura Credit Union, Amalgamated Bank of Chicago, Associated Credit Union of Texas, Bank of Ann Arbor, Beehive Federal Credit Union, Brand Banking Company, Business Bank of St. Louis, Capitol Credit Union, Charlotte State Bank & Trust, Citizens Bank (AL), Citizens Savings Bank, Community Credit Union, Credit Union of Texas, Earthmover Credit Union, Employment Security Credit Union, Family Trust Federal Credit Union, First Community Bank of Beemer, First Interstate Bank, First Service Federal Credit Union, First State Community Bank, Fort Community Credit Union, Georgia Bank and Trust, HomeStar and Financial Services, Houston Highway Credit Union, IDB-IIC Federal Credit Union, Katahdin Federal Credit Union, Lion's Share Federal Credit Union, Mainstreet Community Bank of Florida, Marine Bank & Trust, Marine Federal Credit Union, Monona State Bank, Navy Army Community Credit Union, Northway Bank, Plaza Park State Bank, Reliant Community Credit Union, Security Bank and Trust Company, Silver State Schools Credit Union, Spencer County Bank, Summit Community Bank, Sundance State Bank, The Commerce Bank of Washington, Tioga State Bank, Torrance Community Credit Union, Total Community Credit Union, Triangle Credit Union, United Community Bank and USNY Bank.

On the other side of the equation, retail operations like Cinnabon, Chili's, Domino's, KFC and Starbucks will be added sometime this year. Apple gets a percentage of the value of each credit card transaction that goes through Apple Pay. It also gets a flat rate payment when a debit card is used with Apple Pay.

One of the reasons why Apple is so keen on launching a lower priced 4-inch iPhone model is to expand Apple Pay into emerging markets. The rumored Apple iPhone 5se is said to come with NFC so that it can work with the mobile payment service.


source: Apple via MacRumors

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31 Comments

1. almostdone

Posts: 441; Member since: Sep 25, 2012

Lets get use to the Apple adverts.

4. Hexa-core

Posts: 2131; Member since: Aug 11, 2015

It doesn't matter if Apple Pay adds 1000 banks, as long as you'll be able to use it at only 1/10th of the retailers, it doesn't make Apple Pay any better!

10. Unordinary unregistered

It doesn't matter if you can use Samsung Pay everywhere, if you only have 2 banks and cards supported. Doesn't make Samsung Pay any better!

12. Hexa-core

Posts: 2131; Member since: Aug 11, 2015

But what matters is this: - For Samsung Pay to grow, Banks and retailers do not need to spend a dime. - For Apple Pay to grow, retailers need to spend CASH on upgrading their terminals to NFC-capable ones! An NFC terminal costs about $450. If a retailer has 1000 branches, like BestBuy, it's cost $450,000! So which one got the better ease of adoption from retailers? Galaxy Pay!

17. Unordinary unregistered

FYI, a lot of places are getting Square. It's not expensive at all. And for a business, $450 isn't a lot of money. A pizza place will make that in one lunch. Maybe for you... Go get a job and stop dictating lol.

21. Hexa-core

Posts: 2131; Member since: Aug 11, 2015

A pizza place has deals and employees to pay with the profit it makes. Go get a life and stop dictating.

22. Hexa-core

Posts: 2131; Member since: Aug 11, 2015

$450,000 might be not much, but not having to spend that amount to support a mobile payment service is even more convinient!!

27. TechieXP1969

Posts: 14967; Member since: Sep 25, 2013

Hey you stole my post. Lol I said that the other day in a similar article Stop trying to talk to these guys who lack common sense. Fan boys will never understand why any one tech is better than another. They are star struck.

2. darkkjedii

Posts: 30969; Member since: Feb 05, 2011

Apple Pay rocks.

3. ibend

Posts: 6747; Member since: Sep 30, 2014

cant you make bulleted or numbered list? those list above just hurt my eyes.. (but it isnt like I want to read either way :D ) btw, US sure have gazillions of credit union, nice..

5. Hexa-core

Posts: 2131; Member since: Aug 11, 2015

Of course, the U.S is a big nation (economics-wise).

6. vincelongman

Posts: 5677; Member since: Feb 10, 2013

Why still only directly issued American Express for Australia/Canada The major of people in Australia have bank issued cards But credit where its due, the amount of supported banks in the US is amazing

7. Lycan155

Posts: 254; Member since: Nov 24, 2013

I guess it will take a while to reach middle east :/

8. DnB925Art

Posts: 1167; Member since: May 23, 2013

I have used Samsung Pay at the retailers (Cinnabon, Chili's, Domino's, KFC and Starbucks) who will be getting Apple Pay later this year already, actually since I got my Note 5 in October LOL.

9. Hexa-core

Posts: 2131; Member since: Aug 11, 2015

Samsung Pay rocks.

31. MANOFSTEEL

Posts: 127; Member since: Nov 25, 2015

Samsung is Ratchet period.......!!!!

11. oozz009

Posts: 520; Member since: Jun 22, 2015

Well Samsung Pay will have some catching up to do against Apple Pay even if it can be used in many locations. The reason for that is that Samsung does not have many of their phones supporting that (Samsung S6/S6 edge, etc). On the other hand Apple has 4 devices that support this already (iPhone 6/6 plus and 6s/6s Plus) and soon a fifth: iPhone 5SE (or whatever it ends up being called). Furthermore, the number of people who own these phones also matter because that will aid in convincing more banks to use this feature. Apple is clearly selling a hell of a lot more flagships than Samsung is so the have the upper hand when it comes in spreading interest of their feauture. Of course, other factors apply as well so Samsung can also grow fast by using other strategies. It will be interesting to see where this goes.

13. Hexa-core

Posts: 2131; Member since: Aug 11, 2015

Note5, along with the 2016 Galaxy A and J series all will feature Samsung Pay.

18. Unordinary unregistered

As well as the watch

23. Hexa-core

Posts: 2131; Member since: Aug 11, 2015

And Samsung tablets too!

30. jeroome86

Posts: 2314; Member since: Apr 12, 2012

I'm sold. Let me get a tablet for Samsung pay. Which size will fit in my back pocket?

14. oozz009

Posts: 520; Member since: Jun 22, 2015

In that case, Samsung is making some serious progress as well. Still they first need to sell many of these phones in order to get the upper hand. Ooh well, only time will tell.

16. Hexa-core

Posts: 2131; Member since: Aug 11, 2015

We all know that Samsung is the largest smartphone seller by volume. Samsung Pay will be everywhere in no time.

19. Unordinary unregistered

When it comes to total phones (including the majority of its devices - sh*tyy little $30 phones), of course. Flagships, try again.

24. Hexa-core

Posts: 2131; Member since: Aug 11, 2015

Samsung offers options from the low- to the mid- to the high-end segment. Not everyone wants or needs or can afford a high-end phone. Each category is meant to serve a particular consumer segment. Try again.

26. Unordinary unregistered

Exactly, you blithering idiot.

28. .PRADA.

Posts: 25; Member since: Jan 23, 2016

What I find particularly troubling is that Apple doesn’t appear to be trying to defend their brand and is assisting in its destruction. Throwing the celebrities with the nude photos under the bus is only one in a series of incidents where Apple itself seemed to try to make buyers of Apple products appear foolish. They had Antennagate where thy tried to convince us to hold our phones like tea cups so the antenna would work, they had the Olympics ads that wanted to promote Genius Bar employees but instead made Apple users look mentally challenged, and even though it was obvious folks liked bigger screens, they suggested Apple users were too dumb to see the advantages. I guess the latest announcement of larger phones suggests Apple users actually aren’t that dumb after all. So ask yourself, when you look around, do you think the smart people buy Apple products or the not so smart people? If you are like most, you are likely drifting or already in that latter class. Long term, this is a problem for Apple. The idiots are Apple.

29. oozz009

Posts: 520; Member since: Jun 22, 2015

Exactly. +1 Everyone knows that Apple sells way more premium handsets when compared to others. And it is this clientele that is more likely to use mobile payment. Furthermore, it is this clientele that is more likely to know about such feautures.

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