Apple Pay is wildly popular, with the secure form of mobile payment enjoying nothing but praise and adulation at every turn. On launch, Apple had some significant partnerships with the likes of Citibank and Chase. Mobile payment processors like Square are readying their hardware to support Apple Pay, and various startups are already doing just that. Now, Apple has announced they’ve got even more support, and 90% of the credit purchase by volume int he US can now be accomplished using Apple Pay.
According to The New York Times, SunTrust, Barclaycard, and USAA have all agreed to work with Apple Pay. We’ll assume that means their level of cooperation has increased, since Barclaycard with iTunes rewards already works with Apple Pay.
Starting today, TD Bank North America and Commerce Bank will support Apple Pay as well. With those two powerhouse banks, Apple says their mobile payment service now covers 90% of the credit card volume in the United States.
Support from banks holds a lot more promise than just point-of-sale transactions, which is rounding into shape slowly for any retailers. Though supporters of Apple Pay report lots of interest and use, the terminal has to support the technology.
In-app purchases, like we found with hotels.com recently, are another way Apple Pay is making itself known and vibrant to the mobile payment scene. Now that 90% of the credit spending volume in the US can be done with a tap of the screen or against a payment terminal, expect much more support from Developers and stores alike.
Source: The New York Times