Apple has been expanding its Apple Pay mobile payment system to a range of countries around the world and it has also been expanding it in its home country of the US.
Now twenty more US banks have joined Apple Pay and you can see a list of these new banks below.
- American Eagle Financial Credit Union
- Central Virginia Federal Credit Union
- Community Bank & Trust of Florida
- Community Savings Bank
- First Bank of Berne
- First Financial Federal Credit Union
- Fremont Federal Credit Union
- Greater State Bank
- Highlands State Bank
- Houston Police Credit Union
- Independent Bank (both MI and TX now)
- Mid-Hudson Valley Federal Credit Union
- NAFT Federal Credit Union
- Peoples Bank of East Tennessee
- Santa Cruz County Bank
- Skyline National Bank
- Sterling Bank
- Stonegate Bank
- Terre Haute Savings Bank
- The Cooperative Bank of Cape Cod
- The First National Bank of Central Texas
Expansion of Apple Pay in the US
The inclusion of these twenty new banks signifies Apple’s commitment to making Apple Pay accessible to a broader audience within the United States. By partnering with a diverse range of financial institutions, Apple ensures that more consumers can enjoy the convenience and security of mobile payments. This expansion is particularly beneficial for customers of smaller, regional banks and credit unions who may not have had access to Apple Pay previously.
Apple Pay’s growth in the US is part of a larger strategy to dominate the mobile payment market. With the increasing adoption of contactless payments, Apple Pay offers a seamless and secure way for users to make transactions using their iPhones, Apple Watches, and other Apple devices. The service uses advanced security features such as tokenization and biometric authentication to protect users’ financial information.
Upcoming Features in iOS 11
Apple will be adding some new features to Apple Pay when they release their iOS 11 operating system later this year. One of the most anticipated features is person-to-person payments, which will allow users to send and receive money directly through the Messages app. This feature will make it easier for friends and family to split bills, share expenses, or send gifts without needing to use third-party apps.
In addition to person-to-person payments, iOS 11 will introduce enhancements to the Apple Pay experience in retail environments. For example, Apple is working on improving the speed and reliability of transactions, making it even more convenient for users to pay with their devices. Retailers will also benefit from new tools and features that make it easier to integrate Apple Pay into their point-of-sale systems.
Apple Pay is not just limited to in-store purchases. The service can also be used for online shopping and in-app purchases, providing a versatile payment solution for a wide range of transactions. With the upcoming updates in iOS 11, Apple Pay will become an even more powerful tool for both consumers and businesses.
Global Expansion and Future Prospects
Apple’s efforts to expand Apple Pay are not limited to the United States. The company has been steadily rolling out the service in various countries around the world, including major markets in Europe, Asia, and Latin America. Each new market presents unique challenges and opportunities, but Apple’s strong brand and commitment to security have helped it gain traction globally.
Looking ahead, Apple Pay’s future prospects appear bright. As more consumers and businesses embrace mobile payments, Apple Pay is well-positioned to become a leading player in the digital payment space. The company’s ongoing innovation and strategic partnerships will likely drive further growth and adoption of the service.
The addition of twenty new US banks to Apple Pay is a significant milestone in the service’s expansion. With the upcoming features in iOS 11 and continued global growth, Apple Pay is set to revolutionize the way we make payments, offering a secure, convenient, and versatile solution for users around the world.
Source 9 to 5 Mac
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