It has only been a few months since Apple Pay was launched and yet its adoption has been pretty swift. Many of the major financial institutions already support this service and those that remain are gradually opening up to Apple’s payment service. Today some 20 financial institutions have opened themselves up to Apple Pay with Morgan Stanley being the most notable of all.
You might be wondering what has Morgan Stanley got to do with Apple Pay. Its an investment bank, granted its a pretty big one, but it doesn’t offer retail banking services to the public.
That is true to some extent. Morgan Stanley is among the major investment banks that offer exclusive credit cards to high net worth individuals. For that it has partnered with American Express and offers customized versions of the infamous Platinum card.
Morgan Stanley competitor Merrill Lynch, another big investment bank, was one of the first few financial institutions that opened up to Apple Pay.
Apart from Morgan Stanley, Affinity Federal Credit Union, Cabela’s Club, Central Bank, Credit Union of Southern California, Farmers & Merchants Bank of Long Beach, First National Bank of Omaha, First Sentry Bank, FirstBank, Grow Financial Federal Credit Union, Ideal Credit Union, Redwood Credit Union, State Department Federal Credit Union, Teachers Credit Union, Technology Credit Union, The Northern Trust Company, The Independent BankersBank, United Federal Credit Union, and Utah First Federal Credit Union now support the service.
Filed in . Read more about Apple Pay. Source: appleinsider