Bank of America adds 800,000 of its customers to Apple Pay


Banking-giant Bank of America announced on Thursday that 800,000 of its customers have enrolled to use Apple Pay, adding roughly 1.1 million cards to the service that was released within iOS 8.1 in October. 

Bank of America has been one of the biggest promoters of Apple Pay, running several television advertisements to plug the service.

The bank was one of the launch partners with Apple for the service, and it’s interesting the 800,000 number was included as part of Bank of America’s fourth-quarter earnings report. It translates to about 5 percent of the 15 million “active mobile banking customers.

Is it now the new normal for Apple Pay banking partners to include this number in their earnings reports?

In other Apple Pay news, California supermarket chain Save Mart Supermarkets announced Thursday it will be supporting Apple Pay in its 217 stores in California and Nevada that operate under the Save Mart, FoodMaxx, S-Mart Foods, Lucky, and Maxx Value Foods brands.

Apple Pay is still in its early days, however early data from November shows it’s making notable headway in the mobile payments space. Apple Pay now accounts for 1.7 percent of the mobile payments market after its launch on October 20, but still lagging behind Google Wallet’s 4 percent share of the market, according to ITG research.

Source: Press Release (1), (2)