Apple Pay Adds More Than 20 New Banks, Credit Unions

Apple Pay is expanding, announcing a slew of new banks and credit unions in the U.S. that it now supports.

According to Apple’s updated Apple Pay support document, it has added more than 20 banks and credit unions in the U.S. Some of the financial firms include First National Bank of Aspermont, Patterson State Bank, Allegiance Credit Union, First New York Federal Credit Union, Pioneer Bank FSB, Anchor D Bank, Glendale Federal Credit Union, Bank of the West, Bay Atlantic Federal Credit Union and BayCoast Bank.

The move on the part of Apple comes as it is working hard to increase adoption of Apple Pay. The service has gotten off to a slow start since being launched some 20 months ago. While the number of people who have tried Apple Pay has tripled since its launch, it’s not being driven by a hysteria that often follows a new iPhone launch. Because it’s being more broadly made available, more people are trying it, thus the tripling of adoptions.

As MPD CEO Karen Webster recently noted: “The percent of people who use the service more than once has fallen from its peak a year ago and is now sharply lower than what had been seen at launch. After you take into account both who has adopted the service and how often people who have adopted it use it, the numbers have barely moved over 20 months: Roughly speaking, only one person in 20 who have the service use it when they can; 19 out of 20 people who have the service don’t even bother.”

Earlier this summer, Apple launched a promotion in which anyone who signs up for Apple Pay at one of the company’s Apple Stores gets a $5 gift card for doing it.