AppleInsider Staff
The last of America's four major credit card networks is set to join Apple Pay, as Discover announced Monday that it has struck a deal with Apple to allow its cardmembers access to the iOS-based mobile payments service.
As part of the agreement, consumers that hold either Discover credit or debit cards will be able to add those cards to Apple Pay this fall. Discover was a notable Apple Pay holdout, as the service launched last fall with Visa, MasterCard, and American Express on board.
"As the mobile payments landscape matures, Discover remains committed to giving cardmembers secure options for using their cards and mobile devices," Discover executive Diane Offereins said in a release. "Discover's focus on simplicity and value for our cardmembers aligns well with the way Apple Pay makes purchases easy and convenient."
There is no word on the financial terms, though they are likely to be similar to those reached by other payment networks. Apple is believed to take 15 basis points from the networks' share of each transaction.
News of Discover's addition comes as Apple is reportedly planning to expand Apple Pay internationally for the first time. The company is said to be in talks with Royal Bank of Canada,Toronto-Dominion Bank, Bank of Nova Scotia, Bank of Montreal, Canadian Imperial Bank of Commerce and National Bank of Canada to bring the service north of the border.
Wesley Hilliard
William Gallagher
Christine McKee
Malcolm Owen
Andrew Orr
24 Comments
Good timing. That'll juice up the stock today.
[quote name="SpamSandwich" url="/t/185994/discover-cards-coming-to-apple-pay-this-fall#post_2716134"]Good timing. That'll juice up the stock today.[/quote] Is Discover card really a big deal these days? I would love to use ?Pay more but unfortunately two places I shop at the most (my local grocery store and Target) don't accept it. Also the last two times I've been to Panera the register I ended up at didn't support it. In fact I had to hand my cars to the cashier so they could swipe it. Incredibly frustrating as I would love to use it more.
This is great news! Finally we have an official statement that it is coming. I can't wait till the fall so I can use my Discover Card with Apple Pay.
[quote name="sog35" url="/t/185994/discover-cards-coming-to-apple-pay-this-fall#post_2716140"]Nice. Where are all those clowns here that said Apple stock is over valued at $120? My target remains $150 for this year. [/quote] I'm still a little wary about the stock being up pre market. I have this feeling the stock will be up on the day and then drop after hours as numbers don't beat the expectations that have been slowly creeping upwards. Now apparently anything less than 60M iPhones will be considered a failure. Google can miss on the top and bottom and shoot up 3% the next day. If Apple sells 59.9M iPhones the stock will probably drop after hours. :rolleyes:
[quote name="SpamSandwich" url="/t/185994/discover-cards-coming-to-apple-pay-this-fall#post_2716134"]Good timing. That'll juice up the stock today.[/quote] And offset by the drop after Apple posts record earnings that still fall short of some "analyst".