Apple Pay is seeing major growth. The iPhone maker recently released a statement about dozens of companies of signing up for Apple Pay just in the past few weeks. This list includes ten banks and the NBA.
The list of banks that signed up for Apple Pay include Associated Bank, BB&T, Black Hills Federal Credit Union, Commerce Bank, Dupaco Community Credit Union, Idaho Central Credit Union, First Tennessee Bank, TD Bank North America, WesBanco, and UW Credit Union. These banks will integrate the service starting today. A few of the banks mentioned in the list (including UW CU and Commerce Bank) were previously mentioned in recent updates to Apple’s rolling list of participating issuers.
David Einhorn Buys Three New Stocks: These Are The Names And Theses (Q3 Letter)
David Einhorn's Greenlight Capital funds returned 5.9% in the third quarter of 2020, compared to a gain of 8.9% for the S&P 500 in the same period. This year has been particularly challenging for value investors. Growth stocks have surged as value has struggled. For Greenlight, one of Wall Street's most established value-focused investment funds, Read More
Growing interest in Apple Pay
It was also mentioned that Amway Center, which hosts the NBA’s Orlando Magic, will introduce touchless Apple Pay point-of-sale terminals. The team joined Chase Bank and Levy Restaurants to bring 60 initial POS locations to shops and concession stands. That number could reach 200 by next year’s season.
Apple Pay brings convenience
Alex Martins, chief executive officer of the Orlando Magic, said, “One of the biggest pieces of feedback we get from our fans is that the food and beverage lines are too long. It keeps them from going to the concession stand because they don’t want to miss the action. This, and technologies like Apple Pay, will speed up our service.”
Apple still has yet to release official numbers for Apple Pay’s performance, although two months ago, CEO Tim Cook reported that over 1 million cards were registered within the first 72 hours of operation. Back in November, there was a separate litmus test which showed Apple’s mobile payments system was off to a great start at participating retailers. The iPhone 6 and iPhone 6 Plus accounted for a total of 1% of all transactions at Whole Foods, and Walgreens saw double the number of digital wallet transactions.