Apple Pay Nears 1,000 Supporting US Card Issuers

Apple could soon hit the 1,000 mark for US card issuers supporting its mPayment platform. The company updated its list of supporting institutions with 58 new banks and credit unions.

As AppleInsider points out, most of these new supporters are local institutions and none are big names. But the sheer quantity in the batch has pushed Apple Pay’s list of US supporters past 900—a significant achievement as the company seeks to solidify its positions against Samsung Pay and Android Pay, both of which launched in the US last fall.

In embracing Apple Pay, US financial institutions have tended to focus on the convenience and security of the system. Many have also offered their support partly to ensure that customers perceive them as technologically progressive.

While Apple Pay now has a strong base of support in the US, where it has been around for over a year, it may face tougher competition in new markets like Canada and Australia, and also in China when it launches there later this year, likely alongside Samsung Pay and perhaps Android Pay as well.

Source: AppleInsider