Eight new financial institutions have officially joined Apple's nascent mobile payments initiative, bringing the total number of participating banks and credit unions to 39 less than three months after the service's debut.
Leading the list of new partners is Security Service Federal Credit Union, one of the largest credit unions in the United States. Originally formed to serve members of the U.S. Air Force Security Service, SSFCU now counts some 925,000 members across Texas, Colorado, and Utah with more than $8 billion in assets.
Also joining are Partners Federal Credit Union — which serves nearly 100,000 Walt Disney Company employees, cast members, and their families — Â Consumers Credit Union, Virginia Credit Union, Cyprus Federal Credit Union, Fairwinds Credit Union, Mountain America Credit Union, and regional bank Customers Bank.
Together, the new partners could bring as many as 2 million more customers into the Apple Pay fold.
Major credit unions have been slow to sign on with Apple Pay, though credit unions do make up nearly half of the service's participating financial institutions. SSFCU and Navy Federal are the only two Apple Pay participants that are among the top 10 credit unions nationwide by either members or assets.
The picture is much different when it comes to banks. Only two of the top 10 banks in the U.S. — Â Bank of New York Mellon and HSBC — Â have chosen not to sign on, though both institutions have minimal retail banking presence in the country.
Apple Pay has steadily grown since its rollout in October of last year, accounting for 1% of all digital payments in November. The company is believed to be planning a worldwide expansion, likely to be based in its offices in London.
42 Comments
Ok now we just need more retailers to support NFC. I wish there was something Apple could do to speed up NFC adoption.
Would love for Target credit and debit cards to join.
Yup, can confirm Consumers Credit Union.. very cool. was using it yesterday. The primary places I shop, Meijer (Gas and Grocery), Panera Bread, Walgreens, McDonalds, etc all support NFC and Apple Pay.. (Meijer un-official, but says they won't block it) I have a Walmart across from Meijer, but I can tell you I'm now much less likely to head there now. :D
[quote name="Adrayven" url="/t/184222/apple-gives-2m-more-consumers-access-to-apple-pay-with-new-credit-union-partnerships#post_2658833"]Yup, can confirm Consumers Credit Union.. very cool. was using it yesterday. The primary places I shop, Meijer (Gas and Grocery), Panera Bread, Walgreens, McDonalds, etc all support NFC and Apple Pay.. (Meijer un-official, but says they won't block it) I have a Walmart across from Meijer, but I can tell you I'm now much less likely to head there now. :D[/quote] How does Apple Pay work at the McDonald's drive through? Do they bring out an NFC handheld?
How do you know where you can use it, besides what you read in the news? I just picked up an iPhone 6 and not sure who takes it, so still on debit card method of payment. Does Costco use it? What are the visual cues for where you can use it?