Discover cards coming to Apple Pay this fall
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.