Apple Pay Welcomes Over 50 Card Issuers to Roster of Supporters

Apple Pay Welcomes Over 50 Card Issuers to Roster of SupportersMore than 50 new card issuers have been added to Apple Pay’s roster of supporters.

Once again, the mPayment service’s latest batch of supporters is mostly composed of smaller and more local financial institutions such as Houston Highway Credit Union and Sundance State Bank, since Apple has already garnered the support of most major national card issuers. But it does edge the roster closer to the 1000-mark, which could be seen as a major milestone in Apple Pay support.

AppleInsider points out that the mPayment platform has more financial services support than merchant partners, but also notes that an analyst with investment firm Piper Jaffray is predicting more momentum for Apple Pay in the year to come with anticipated new features of the service including peer-to-peer transfer and in-browser support. Moreover, the analyst says Apple Pay is “overwhelmingly the share leader” in POS mPayment transactions.

That’s an encouraging take for Apple as it seeks to expand its mPayment service to new regions in competition with rivals like Samsung Pay. The latter recently made its debut in Spain, and both services are expected to come to the massive China market early this year.

Source: AppleInsider