Apple Pay Adds BBVA Compass, Fifth Third And 13 Other Banks

Apple has updated its list of financial institutions that fully support Apple Pay with another 15 banks and credit unions, bringing the total to 61, 9to5 Mac reported on Tuesday (Feb. 3).

The new additions to the list include the 673-branch BBVA Compass, one of the 25 largest U.S. retail banks, and Fifth Third Bank, with 1,300 branches stretching from the midwest down to Florida.

Other newly live Apple Pay banks and credit unions include:

Alliant Credit Union
Altra Federal Credit Union
Andrews Federal Credit Union
BECU (Boeing Employees’ Credit Union)
Ent Federal Credit Union
F&A Federal Credit Union
First Niagara Bank
First Tech Federal Credit Union
Golden 1 Credit Union
INOVA Federal Credit Union
Savings Bank of Danbury
Star One Credit Union
Uwharrie Bank

During Apple’s Q4 earnings call on Jan. 27, CEO Tim Cook said that about 750 banks and credit unions have signed contracts to roll out Apple Pay support. That means only about 8 percent of the signed-up banks have currently gone live with the payment service to date.

On Visa’s earnings call two days later, CEO Charlie Scharf said 43 Visa issuers have signed up for Apple Pay using Visa’s tokenization services, accounting for 75 percent of Visa’s U.S. payment volume. More than 500 other U.S. Visa issuers have also signed the Apple Pay contract and are working with Visa to enable the service, Scharf said.

While MasterCard didn’t call out the number of its MasterCard-issuing banks that are live or in the pipeline for Apple Pay during its own Q4 earnings call on Friday (Jan. 30), it’s reasonable to assume that most of the non-Visa Apple Pay banks are MasterCard’s.

Cook also said on Apple’s earnings call that Apple Pay now accounts for $2 out of every $3 in Visa, MasterCard and American Express contactless payments in the U.S.

9to5 Mac reported in January that that Apple is preparing to launch Apple Pay in Canada as soon as March, while other reports say Apple Pay will see its launch in the U.K. during the first half of 2015.