Roger Fingas
Apple has updated its roster of banks and credit unions with Apple Pay to include more U.S. institutions, plus a handful of additional options in Canada and China.
Canadians can now add cards from Servus Credit Union. In China, the expansion includes Visa and Mastercard for China Construction Bank, and PrimeCredit Limited Visa in Hong Kong.
As is now standard, the U.S. additions are primarily state- or city-level. Most national firms were onboard within a year of Apple Pay's Oct. 2014 launch.
The complete list of new U.S. issuers is below:
- Audubon State Bank
- Bank of Lafayette
- CedarStone Bank
- Chemung Canal Trust Company
- Citizens Bank [MN]
- Citizens State Bank
- Consumer Credit Union
- Copiah Bank
- Cy-Fair Federal Credit Union
- Fairfield Federal
- Farmers State Bank & Trust Co.
- First Commonwealth Federal Credit Union
- First Independent Bank
- First National Bank [TX]
- First National Bank South
- First State Bank [TX & IL]
- First State Bank of Bloomington
- First State Bank of Odem
- Fisher National Bank
- Freedom Northwest Credit Union
- Gateway Community Bank
- Greater Community Bank
- Healthcare Financial Federal Credit Union
- Heritage Bank of Nevada
- Illinois Educators Credit Union
- Interstate Credit Union
- James Polk Stone Community Bank
- Park Side Financial Credit Union
- Pioneer Bank [MN]
- Rayne State Bank
- Rocket Federal Credit Union
- Valor Bank
- Wakefield Co-operative Bank
- Williamstown Bank
- WinsSouth Credit Union
- Yantis Federal Credit Union
Charles Martin
Malcolm Owen
William Gallagher
Christine McKee
Wesley Hilliard
Andrew Orr
3 Comments
There will likely be comments about what Apple Pay needs is more places that accept it. I agree, but more issuers means more people I can use Apple Pay Cash with, too, so this is good news.
By the way, I frequently find small places that accept Apple Pay and don’t realize it. Two weekends ago I was out for breakfast and tried it. To the surprise of the relatively young staff (a couple of teenagers taking turns running the register) it worked. I found out the dry cleaner a mile away accepts it, again, a surprise to the staff. I think people can use Apple Pay in more places than they realize.
Also, I heard today that Disney is trialing contactless payments only at one of its hotels starting next month.
This brings the number of US issuers to 2275; over the 39 months that Apple Pay has been available, that works out to exactly 700 issuers added per year.
There are 5642 Credit Unions and 5737 FDIC insured banks in the US. At 700 per year it's going to take 16.25 years to get them all on board.
In my state:
- 21% of the state and city level banks support Apple Pay. The biggest of these banks has about half a million customers, the smallest has just over 200.
- 79% of the population are customers of state and city level banks. The other 21% presumably includes both national bank customers and people with no bank accounts.
- 43% of the population bank at state and city level banks which support Apple Pay
- 36% of the population bank at institutions which still do not support Apple Pay.
My opinion - something has to change. My phone continually nags me to finish setting up Apple Pay when in fact it's Apple that is going to take another 13 years to finish the job.