Apple Pay officially expanded to its sixth country yesterday with Apple adding support for Singapore and today, the company has added support for over 50 new banks and credit unions in the United States. Starting today, customers of the following banks and credit unions can add their debit and credit cards to Apple Pay and use it instead:
- Access Federal Credit Union
- Alcoa Tenn Federal Credit Union
- Audubon Savings Bank
- Bank of Stockton
- Barrington Bank & Trust Company N.A.
- Beverly Bank & Trust Company N.A.
- Champlain National Bank
- Community Trust Bank
- Connected Credit Union
- Country Club Bank
- Crystal Lake Bank & Trust Company N.A.
- Englewood Bank & Trust
- Financial Horizons Credit Union
- Financial Plus Credit Union
- First & Farmers National Bank
- First Enterprise Bank
- First Metro Bank
- First National Bank of Chadron
- First State Bank
- First State Bank of Porter
- FirstCapital Bank of Texas N.A.
- Frontier Community Credit Union
- General Electric Credit Union
- Georgia’s Own Credit Union
- Greenville Federal Credit Union
- Hinsdale Bank & Trust Company
- Jefferson Bank of Florida
- Journey Federal Credit Union
- Kentucky Employees Credit Union
- Lake Forest Bank & Trust Company
- Libertyville Bank & Trust Company
- Metropolitan Bank
- Midwest Bank
- Mutual Security Credit Union
- National JACL Credit Union
- North Iowa Community Credit Union
- Ohio HealthCare Federal Credit Union
- Old Plank Trail Community Bank N.A.
- Orange County’s Credit Union
- Otis Federal Credit Union
- Pacific Postal Credit Union
- Picatinny Federal Credit Union
- PNC/BNY Mellon-Fidelity
- PrimeTrust Financial Federal Credit Union
- Queensborough National Bank & Trust Company
- Robins Financial Credit Union
- Schaumburg Bank & Trust Company N.A.
- SouthWest Bank
- St. Charles Bank & Trust Company
- State Bank of Cross Plains
- State Bank of the Lakes
- Stock Yards Bank & Trust
- Town Bank
- Union Savings Bank
- Union State Bank of Fargo
- United Bank of Michigan
- University Credit Union
- University of Wisconsin
- Village Bank & Trust
- Wheaton Bank & Trust Company
- Wintrust Bank
As usual, you can view the full list of banks and credit unions that support Apple Pay on Apple’s website here. Apple Pay works with the iPhone 6, iPhone 6 Plus, iPhone 6s, iPhone 6s Plus, Apple Watch, iPad mini 4, iPad Air 2, and both iPad Pro models. The new iPhone SE also features Apple Pay, which is a first for the 4-inch iPhone class.
To set up Apple Pay on an iPhone, open the Wallet app on iOS 9 and tap the plus (+) icon in the top right corner to begin, then follow the prompts. To add a debit card to the Apple Watch, go to the Apple Watch app on iPhone and look for the Wallet & Apple Pay section, then Add Credit or Debit Card section.
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Ok seriously,
1) how many bank are there in the US??
2) maybe little more work on international markets? Pretty please?
American banks have the highest merchant fees in the world, that is why they are doing it bank by bank here in the states.
In Europe and other parts of the world they are .3% caps on fees to merchants for credit card transactions. This means Apple can’t get the percentage of the fee they want. In the US Apple gets.15% of every Apple Pay transaction. They have no urgency to expand internationally, because there is little profit.
taoprophet: your information on Apple’s percentage is off by at least three decimal places, unless what you actually mean to say was that it was 15 percent of the bank’s fee, in which case you are off by only one decimal place. The *actual* fee Apple collects on each Apple Pay transaction is 0.015 percent, or to put it another way, 15 cents on every $100, and it comes out of the bank’s fee — not the consumer’s pocket. If a card issuer charged one percent of the transaction ($1 on every $100), Apple would get 15 percent of that. Most CC issuers actually charge somewhere between one and three percent with an average of around two percent. So instead of making $2 on every $100 charged, a bank using Apple Pay would still only get $1.85, with Apple getting 15 cents. Hope that clears things up for you.
i put the . there i just accidentally hit the spacebar. Apple gets .15% of each transaction. I know the merchants pay the fee and is why it is capped in Europe at .2 for debit cards and .3% on credit cards.
“and it comes out of the bank’s fee — not the consumer’s pocket.”
Is everyone in America econimically illiterate? No, friend, it comes out of the consumer’s pocket. The same as taxes. EVERYTHING is passed onto the consumer through the price they pay for the product. There are no exceptions to this. WE pay for EVERYTHING.
Danny: probably not up to Apple. In Canada, for example, the problem is simply the banks and CUs, and their own self-interest in a potential mobile payment platform of their own (as was the problem with Barclays in the UK), or the tiny fee Apple takes out of their fee (as was the problem in China), or both.
Canada parliament passed .3% cap on merchant fees.Apple wants .15% and is why Apple makes bank by bank deals.
No problem with China. Apple signed a deal with union pay and a dozen or so banks and instantly made Apple Pay available to 80% of Chinese customers.
Apples gets .07% percent in China or about half what it gets in the US.
> 1) how many bank are there in the US??
At least one more than the total list, as mine still isn’t supported. :(
Many of these new additions are Credit Unions. In the US, credit unions were easy to set up by large corporations, individuals and communities. One factor is that the Federal Deposit Insurance Corporation would only insure accounts up to $100K which led people to spread their money around. Also credit unions were able to give their members good deals on small loans such as housing equity and automobile.
That being said, most banks are covered with a few exceptions. In the state of Colorado, Bank of the West is missing as the biggest omission. Frost Bank, Fidelity investments are missing. Many store branded credit cards are still missing such as Best Buy, etc.
But as you suggest International expansion to more of Europe, S. America, MidEast should be a priority.
still no support for santander bank in the us only overseas.
I still feel like peer to peer payments coming this wwdc or the apple watch event. All new iphones will have apple pay, watches are cheaper, and there are tons of banks added. The quick contacts button, imessage, and siri would be such an awesome way to send people money instead of digging through something terrible like chase quick pay, or even something pretty decent like venmo.
I think you are right. There does not seem to be any other driver. Wish store additions was at this pace.
I’ve used Samsung Pay more times in the last 5 days vs. the number of times I’ve used Apple pay since 9/25/2015.
I still love my 6S but I’m going to call it like I see it. When I use Samsung Pay people are amazed. Apple had such a head start only to get beat by Samsung. This is why I’d rather make the S7 my primary phone while the 6S stays home.
I really hope Apple adopts MST technology like Samsung pay has. That was my absolute favorite part of Samsung pay.
“As usual, you can view the full list of banks and credit unions that support Apple Pay on Apple’s website here.”
There’s no link to the full list of banks. Looks like the hyperlink wasn’t setup…