Monday , November 29, 2021

Banks and Credit Unions Continue To Sign Up for Apple Pay

The number of banks and credit unions that support Apple Pay, Apple Inc.’s mobile payment scheme, continues to grow with the First National Bank of Pennsylvania among the latest to join the list.

The bank, a unit of Pittsburgh-based F.N.B. Corp., says its debit card users now can use the service. Additionally, 14 more financial institutions now support Apple Pay, according to Apple’s list of participating issuers.

Questions linger, however, over actual usage of Apple’s mobile wallet, which the computing giant launched in October as an application that works on the new iPhone 6 and 6 Plus and links to point-of-sale terminals via near-field communication (NFC). Apple has been mum about usage rates, and has not issued user numbers since announcing that 1 million consumers had signed up in the first three days. Bank of America Corp. last week said nearly 800,000 of its customers had enrolled in Apple Pay.

Among the new issuers are A+ Federal Credit Union, Amegy Bank of Texas, California Bank & Trust, and Zions First National Bank. In total, 54 issuers now offer Apple Pay for either their credit or debit cards, or both.

Personal-use credit and debit cards are the most popular. Of the 54, nine issuers do not offer Apple Pay for credit cards. Only four issuers, including American Express Co., which does not issue a debit card, do not offer a debit card version.

Only three issuers offer Apple Pay-compatible prepaid cards: Chase, Regions Bank, and Wells Fargo.

Check Also

Paycast, Marqeta, And Mastercard Launch a Virtual Card for Marketplace Sellers

Paycast Inc., a payments provider for online merchants, e-commerce platforms, and marketplaces, is partnering with …

Digital Transactions