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Apple Pay gains eight new banks
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MacNN Staff
Join Date: Jul 2012
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Apple has added another eight banks to the list supporting Apple Pay, sources say. The collection includes Customers Bank -- based in Pennsylvania, New York, Rhode Island, Massachusetts and New Jersey -- and seven credit unions. Those are Security Service Federal Credit Union, Consumers Credit Union, Virginia Credit Union, Cyprus Federal Credit Union, Fairwinds Credit Union, Mountain America Credit Union, and Partners Federal Credit Union.
All of those institutions have yet to be added to Apple's official roster, but the company can sometimes lag in updating that information. There are now dozens of supporting financial institutions, and the company will have to continue adding them at a rapid pace if it wants to reach its goal of 500-plus US banks.
Apple Pay remains a US-only service for now. Work is underway, however, to bring it to regions like the UK and China.
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Last edited by NewsPoster; Jan 7, 2015 at 08:18 AM.
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Junior Member
Join Date: Jan 2005
Location: Minnesota
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Dozens? Last I read, over 90% of US banks were onboard.
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Senior User
Join Date: Mar 2009
Location: pacific northwest
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Tim announced that 500 banks were on board in October (several websites state this, hate referencing WSJ but http://www.wsj.com/articles/apple-pay-draws-hundreds-of-banks-1413494238) but each of these banks requires a separate configuration and the installation of NFC-enabled devices. I don't believe Tim said this was a goal but a fact. Of course only a few of these were actually ready at release time and every week it appears more have gone through the necessary process to fully work. The big banks came first, now they're adding smaller banks and credit unions. Many of the smaller banks and credit unions probably need to upgrade their IT systems to get to a point where Apple feels secure in dealing with them.
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Dedicated MacNNer
Join Date: Nov 2003
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Screw you, Citizens Bank. Now that I no longer have my mortgage through you, you don't seem to care about my piddly account any more. Well, I've got no loyalty for you either. I'm about to use that Apple roster as a shopping guide for a new, modern bank.
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Senior User
Join Date: Mar 2009
Location: pacific northwest
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@potty This is another example of the "Apple Effect." Apple product users for the most part stand behind Apple so when another company ignores Apple, users like you and me decide with our wallet (now iPhone ApplePay) to shop elsewhere. Banks and stores will feel the effect because it's a know fact the majority of Android users don't buy many things (apps, internet purchases, etc.). Therefore, these banks and stores are left with the penny pinchers, which means less income for those institutions.
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Addicted to MacNN
Join Date: Aug 2007
Location: Phoenix, Arizona
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My CU is not on board yet.
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45/47
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Senior User
Join Date: Mar 2009
Location: pacific northwest
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@Chongo Actually my old one isn't either and it is located ~40 miles from Apple headquarters and it has a lot of government contractors as members, many of whom use Macs.
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Senior User
Join Date: Jan 2008
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Step 2. More retailers
As much as I like using Apple Pay, the roster of companies that use it needs to increase. The likes of Chick-fil-a, KFC, Outback, Shell, Exxon, CVS, PetSmart, Home Depot, Lowes, and dare I say, Best Buy and Walmart. Just more variety and options will help keep this going...that and more iPhone 6 sales!
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Senior User
Join Date: Mar 2009
Location: pacific northwest
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@pairof9s Home Depot works unless the specific store has shut it down. The cashiers don't necessarily know this but it's worked at two different locations. The stupid thing is ApplePay works at most of the stores you listed if they would just turn it back on. The stores have the right to choose which credit cards they take but I'm wondering whether Visa, MasterCharge and Amex will start pushing them to accept ApplePay if they want to keep their contract with these credit card companies. ApplePay is more secure than simply using the card so the credit card companies have a vested interest in having people use the more secure method when they can. Amex charge: AplPay THE HOME DEPOT
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Dedicated MacNNer
Join Date: Jan 2002
Location: State of WA
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Still need to get my credit union on board...guess it's time to send them another e-mail
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Managing Editor
Join Date: Jul 2012
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