August 25, 2015
Amarillo National Bank’s visa credit/debit card users can now make payments through Apple Pay. With this move, ANB bank has become the first local bank to accept Apple Pay.
Earlier, Apple announced that 35 new banks in the US have partnered with Apple Pay. With the latest addition, the total number of banks that support Apple Pay in the US has now reached 375.
Executive Vice President William Ware announced, No other local bank has offered this yet. The big guys have Chase, Bank of America, Wells (Fargo), but they were let in early, months before (Apple) even allowed smaller banks in.
Most of the small banks that were skeptical about Apple Pay’s success have now understood that US consumers are looking for convenience while making payments. Security was a large concern for smaller banks. However, after almost one year since Apple Pay was launched, smaller banks have now reached a consensus that the system is mostly secure.
The Texas-based Amarillo National Bank might be the first small bank to accept Apple Pay but in the next four months, you will see more small banks integrating Apple Pay. Apart from Apple Pay, small banks are planning to integrate Android Pay and Samsung Pay for making payments convenient for Android users.
Android Pay might be launched this week whereas Apple’s biggest rival, Samsung, might launch its payment system Samsung Pay next month.