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Tag - American Express
U.S. Bank, the fifth largest American bank by deposits, on Thursday announced it had added support for Apple Pay to its FlexPerks American Express (Amex) credit cards. Users of the FlexPerks Reserve Amex card, the FlexPerks Travel Rewards Amex card, and the FlexPerks Select+ card can immediately add their cards to the iOS Wallet program to gain Apple Pay functionality for online transactions, or retail store buying with an iPhone 6 or later, or an iPhone 5s paired with an Apple Watch.
Another 66 banks, credit unions, and financial institutions have been added to Apple's US Apple Pay partners list, bringing the total (including two store-issued cards, Kohl's and the newly-added BJ's Wholesale Club) to 857 partners listed on the Apple Pay site. Starbucks and some other merchants have already announced plans to add their virtual loyalty or discount cards to Apple Pay and the Wallet app for iOS sometime next year, and American Express has recently begun expanding support for its cards to other countries.
Apple on Wednesday added another 40 US banks and credit unions to its list of supporting financial partners and card issuers, bringing the total for the United States to 792, and the worldwide total cracking 800 for the first time, at 809 (American Express in each country is counted as a separate entity, and the single supported store loyalty card, Kohl's is included in the US total). Despite this, a new study by InfoScout shows that usage of Apple Pay dropped by nearly 50 percent on Black Friday.
Apple has confirmed deals with 94 further banks in the United States to support Apple Pay. New additions include the Farmers State Bank, Northeast Credit Union and the Acme Federal Credit Union. Including today's addition of two more UK banks, this brings the worldwide total to 786.
Following up on an earlier story, card issuer and financial services giant American Express has confirmed that it will launch Apple Pay support for its cards in Canada tomorrow. The move, an end-run around "dragging" Canadian banks, will bring official compatibility to Amex-issued cards in the country. Apple Pay already works widely in Canada, due to more than 70 percent of merchants having NFC-compatible contactless card readers at POS terminals, but was limited to cards issued by US financial institutions until now.
Apple is expanding the number of countries Apple Pay will operate within, via a partnership with a credit card company. Advised as part of today's earnings call, Apple Pay will be usable in Australia and Canada for American Express customers before the end of this year, with American Express users in Spain, Singapore, and Hong Kong also expected to be able to use the payment service when it becomes available next year.
American Express is increasing its involvement with Apple Pay by making more of its credit cards work with the service, just as teased earlier this month by Apple. The credit card company revealed earlier today that its corporate cards in the United States will support the mobile payments service from now on, potentially allowing business users and corporate customers to make use of Apple Pay when carrying out transactions using the iPhone 6, iPhone 6 Plus, and Apple Watch.
Jawbone has launched two new fitness wearables, with one hinted at by a report yesterday. The Up2 is the successor to the Up24, taking the form of a more modest fitness tracker compared to the delayed Up3, while the Up4 is a more advanced device that will be able to make payments in retail stores via a partnership with American Express and an NFC chip.
Yet another wearable device will be offering alternative payments in the future, according to a report. According to the Wall Street Journal, American Express and Jawbone are planning to announce a new system that will allow AmEx card owners to use the manufacturer's fitness bands to make payments at a number of retailers in the United States.
American Express has again created its own commercial featuring Apple Pay, a technology the company has been a strong supporter of. Made in collaboration with Apple, the Amex ad uses its own previous commercials to portray the mobile payment technology as the next step of its evolution. In contrast, Apple's own latest TV spot is busy promoting the company's iPad tablet, showcasing its role in rap artist Elliphant's song creation process.
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