Apple Pay Lands In Several New Banks, Countries
With Apple Pay’s second anniversary recently arriving, its move to become the biggest mobile payment system around hasn’t slowed down any.
In fact, recent reports have it not only in the hands of several new banks, but also a slate of credit unions and even other countries altogether.
Recently, Apple Pay got new support from Sberbank in Russia, which brought the total slate of countries in which Apple Pay could be put to use to 10. Following that, Apple Pay added 26 new banks to its roster in the United States along with Desjardins in Canada.
Plus, in the United Kingdom, Apple added on Metro Bank and The Co-operative Bank, which brings that count alone to 22 banks in the region that support the program. With the new additions in the U.K., Apple Pay can be used in Jersey, Guernse, and the Isle of Man. Reports suggest that the next target could be Taiwan, as the four biggest banks in the region are set to add Apple Pay support to their own internal lineups.
At this stage, the problem isn’t so much a lack of bank and credit union support so much as it is a lack of store support. While there are plenty of financial institutions who will give users access to the service, there is a comparatively slim proportion of stores that will actually take it.
Indeed, this was a point used to great effect against Apple Pay in some January advertising with Samsung Pay, in which Hannibal Buress went to Katz’s Deli to get a pastrami sandwich, and paid with his phone in a place that wouldn’t take Apple Pay.
Apple Pay has made great strides in getting financial institution support for its service. Now, it needs to get just as much support from the storefronts and online shops who could make all the difference here.
It really doesn’t matter how many banks back it; if it can’t pay for a candy bar or a new Blu-ray player—or even a pastrami sandwich—then its value becomes clearly limited. The more stores Apple Pay can get on board, the better its overall chances for success.