A host of regional financial institutions, including BBVA Compass and Fifth Third Bank, now support Apple Pay. Moreover, Visa recently announced that 43 Visa issuers have signed up for Apple Pay, accounting for 75% of Visa's transaction volume in the US.
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. 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.