Companies, If Not Consumers, Clamor For Apple Pay

Author

Lauren Orsini

December 17, 2014

Apple Pay now supports 90% of U.S. credit cards in terms of purchase volume, the technology company said Tuesday.

Banks like SunTrust, Barclaycard and USAA recently began working with Apple to support the service, and as of Tuesday 10 more banks—and the credit cards they offer—will join the roster of companies that support Apple Pay, the New York Times reported.

See also: Apple Pay: 1 Million Cards Down, 599 Million To Go

Combined with the retailers, banks, and start-ups that already support it, there are more opportunities than ever for consumers to make purchases with a wave of an iPhone. Staples, McDonald’s, Disney, Uber, Lyft, and Airbnb all support it. Whole Foods reported in October that it processed more than 150,000 Apple Pay transactions in the days after it came out.

Mobile payments have the potential to make retail lines move more quickly as payments get shorter and easier. While consumers have expressed concern about whether they would trust Apple with their credit cards, banks and retailers clearly don’t share these worries.

See also: Apple Pay: I’m Not Impressed

Now that 90% of US credit cards in terms of purchase volume support the technology, whether credit card users choose to adopt it will be Apple Pay’s true test.

Photo by Owen Thomas for ReadWrite

Great ! Thanks for your subscription !

You will soon receive the first Content Loop Newsletter