Apple Pay has added 34 new credit unions and banks to its roster of partners in America. The list includes National Bank, Eastern Bank, First National Bank and Trust, and Stanford FCU, among many others.
With the latest additions, Apple Pay inches closer towards the 400 mark with respect to partner banks in the US. Meanwhile, the mPayment service was recently able to get major UK financial institution Barclays onboard just in time for its rollout in the UK.
These victories could prove to be necessary bolsters as Apple Pay starts to face off against serious competition this year. Rival mPayment platforms like Android Pay and Alipay are emerging to challenge the service’s reign as dominant platform in the nascent market. Meanwhile, PayPal has just split off from parent company eBay and appears to be positioning itself as a serious competitor in not only the mPayment space, but in alternative banking more broadly, which could pose a serious long-term threat to Apple Pay growth.
Still, for now, Apple Pay is on a roll. It continues to be adopted as a convenient payment method by major organizations including even the US federal government, which has adopted it for certain transactions with citizens and tourists. And as it continues to add partner banks and merchants, it can only solidify its position at the top of the mPayment game.