Sidebar Sidebar
Become a MacRumors Supporter for $50/year with no ads, ability to filter front page stories, and private forums.

Apple Pay Gains 12 New Participating Issuers in United States

MacRumors

MacRumors

macrumors bot
Original poster
Apr 12, 2001
67,726
38,251



Apple-Pay-250x434.png
Apple updated its Apple Pay participating issuers list today with 12 additional banks, credit unions and financial institutions supporting the contactless payment service in the United States. Apple Pay now has over 300 participating issuers nationwide, and several hundred more plan to support the NFC-based mobile payment service in the future.

The newly added Apple Pay participating issuers are reflected below, although it's worth noting that some banks, credit unions and financial institutions listed may have already had support for the contactless payments service and are only now being reflected on Apple's website.

The full list of new Apple Pay participating issuers:
Banner Bank
BayPort Credit Union
California Coast Credit Union
Centier Bank
Community First Credit Union (CFCU)
Glenview State Bank
HAPO Community Credit Union
Prestige Community Credit Union
Provident Credit Union
Staley Credit Union
Synovus Bank
Wood & Huston BankApple Pay remains available in the United States only, although Apple is committed to an international rollout of the mobile payments service in additional countries such as Canada, China and the United Kingdom. Canada, a well-prepared candidate for Apple Pay, could be the first country to embrace the service outside of the United States in iOS 9.

Apple Pay gained 24 new participating issuers in early May and another 35 participating issuers in late May.

Article Link: Apple Pay Gains 12 New Participating Issuers in United States
 
Article Link
https://www.macrumors.com/2015/06/02/apple-pay-12-new-participating-issuers-june/
Apple Pay is one of the most exciting things Apple is doing so far, and in my opinion the most useful. Keep it up!
 
Bollocks. I am way excited for Banner to be added. Tried but it's still saying it's not supported. Oh well. Maybe I'll try later.
 
I get way more excited when they announce sellers that accept Apple Pay these days. The big issuers seem to have all converted and all that is left in the US are the tier 2 and 3 issuers. Hearing that Target is going to start accepting or Best Buy is more exciting these days. I say this because I have Apple Pay and all of my cards are already loaded, now I just need somewhere to use it.

I am really hoping to hear an expansion outside of the US next week at the WWDC.
 
  • Like
Reactions: icrew, JackANSI and perkedel
TMRJIJ said:
You should move to US. We seem to get everything first. ;)
Click to expand...
Yeah but the thing is, sounds like Canada is like Australia and NZ in that well over half of our retailers are ready, just our banks and Apple need to get together and we're done and dusted.
 
If Apple really cared about its customers, they'd stop selling us and our purchase info to individual banks, and instead let the whole world use Apple Pay.

Charging an issuer for the initial card registration is one thing. That requires some back end support on the part of Apple's servers. (Not really, since even that could be done directly from the phone, but we'll let that go.)

However, charging a bank per debit/credit POS transaction... which is strictly between the phone and the NFC terminal, where Apple is not involved at all, is simply greedy blackmail forced upon a bank/credit union in order to be allowed to participate.

That charge, plus the info that Apple requires back from the banks, is what is keeping banks from joining up.

(And to the naive, nope, the charge has nothing to do with using tokenization. That's something which requires no extra effort on Apple's part, was not designed by them, and was already a known method. Nor does it have to do with fingerprint security, since a passcode works, too. It's simply about being allowed to be part of a payment method that is considered to be more convenient... like any other NFC method... plus getting the same purchase information that the banks previously got.)
 
kdarling said:
If Apple really cared about its customers, they'd stop selling us and our purchase info to individual banks, and instead let the whole world use Apple Pay.

Charging an issuer for the initial card registration is one thing. That requires some back end support on the part of Apple's servers. (Not really, since even that could be done directly from the phone, but we'll let that go.)

However, charging a bank per debit/credit POS transaction... which is strictly between the phone and the NFC terminal, where Apple is not involved at all, is simply greedy blackmail forced upon a bank/credit union in order to be allowed to participate.

That charge, plus the info that Apple requires back from the banks, is what is keeping banks from joining up.

(And to the naive, nope, the charge has nothing to do with using tokenization. That's something which requires no extra effort on Apple's part, was not designed by them, and was already a known method. Nor does it have to do with fingerprint security, since a passcode works, too. It's simply about being allowed to be part of a payment method that is considered to be more convenient... like any other NFC method... plus getting the same purchase information that the banks previously got.)
Click to expand...

Apple is not in the charity business.

They would essentially providing free services to banks at that point. The tiny fee they charge banks likely covers their cost, developments and advertising.
 
  • Like
Reactions: Jamalien
Who cares? I can't use it anywhere. The few times I've used apple pay It's been as new to me as the cashier. They need to focus on adding more places where it is accepted at instead of more supporting banks (or ideally both).

Apple pay is awesome... when I can use it. I just don't shop/eat at a lot of places that accept it. McDonalds? No thanks... not trying to die in my 40s.
 
  • Like
Reactions: Benjamin Frost and redhawk87
What about Australia? Most retailers here have NFC terminals, and U.S. Apple pay is confirmed to work on them. Apple need to get their butts into gear and sign up the big four banks in Oz, it's a no brainer.
 
What info is Apple selling to the banks? Our purchase info? When you buy something with your credit card now, your bank doesn't know about it...but now Apple is selling them this info? I'm not sure you fully understand ApplePay.

Apple is selling the banks extra security. Yes tokenization existed before. Yes fingerprint/passcode existed before. But Apple's combination of the technologies apparently offers enough security for the banks to be willing to pay for it. The banks seem to be signing up willingly and they are the one's paying Apple. If they didn't feel it was worth it, there would be few issuers signed up.

Merchant acceptance has been slower. Some is reluctance to invest in new technology at POS. Some of the bigger ones have resisted because they want to stick it to the card issuers anyway and get directly into our checking accounts (MCX aka CurrentC). The upgrade to chip cards will force most small vendors to buy the new technology anyway. And the big ones are already starting to cave.
 
  • Like
Reactions: Sasparilla and doelcm82
Until MCX CurrentC is gone, you won't find broad support for Apple Pay or anything else. Retailers want that tie-in purchase data and less fees more than they want to please a customer's desires.

You're likely to spend a bit more than average for short time if they support Apple Pay, but things will return to normal quick. They might even lose a bit of purchase data.

If they can track your spending across multiple stores (through MCX CurrentC) they stand a better chance to make money off you for a much longer period of time by targeting your ever-changing desires.

The only thing Apple could do to get faster retailer acceptance is to bring in some kind of way to tie loyalty cards directly into Apple Pay so the retailer can keep gathering data on you.
 
The day Apple launches Apple Pay outside of the US is the day they'll make a killing. Retail adoption within the states is pathetic at best. Maybe it's geared towards people who live/work in the US but travel internationally.
 
  • Like
Reactions: JackANSI
I thought Credit Unions would be the hardest to persuade and last to switch to anything... They usually don't do anything with new tech for years (until a majority of their members would benefit from it).

Frankly I'm surprised they even issue cards.
 
Great! So when can I used my North Carolina State Employees Credit Union debit card? :-/. NCSECU said they think it costs too much and are still trying to decide if its worth it to their customers. Its the second largest Credit Union in the USA with almost 2 million users.
 
  • Like
Reactions: raydragon and wolfpackfan
wolfpackfan said:
And still no North Carolina State Employee's Credit Union. Well I've opened a Wells Fargo account to just use Apple Pay and I use it instead of the credit union now. Maybe some day the credit union will come out of the 19th century.
Click to expand...

I've talked to some folks at the NCSECU about Apple Pay and they say that they're currently waiting in line for their "Visa Products" to be tokenized. Basically its on its way but there are "hundreds" of institutions ahead of them. Still sucks, the Trader Joe's here just started accepting it :(
 
  • Like
Reactions: raydragon
xero9 said:
The day Apple launches Apple Pay outside of the US is the day they'll make a killing. Retail adoption within the states is pathetic at best. Maybe it's geared towards people who live/work in the US but travel internationally.
Click to expand...

And if Apple launched elsewhere first, it would stay pathetic in the US for years, possibly decades. Retailers are already having to upgrade their equipment for chip anyway and without something like Apple Pay they wouldn't even bother enabling NFC (or possibly even buy terminals that can't support it).

PayPass/payWave credit cards aren't a good enough reason for the retailers either. Remember that American banks used to issue those but no one bothered using them. Almost no bank is even thinking about issuing cards that support it again because of how big of a flop those were.
 
You must log in or register to reply here.
Register on MacRumors! This sidebar will go away, and you'll see fewer ads.
Top Bottom
Back