Crew of Banks in Android Pay Kick Off Mirrors Apple Pay’s
In one way, Android Pay has already matched Apple Pay: its group of charter banks is eerily similar.
Android Pay, Google’s contactless mobile payments offering, kicked off yesterday with 11 bank participants. (A couple were listed as “coming soon.”) Apple Pay, too, back in October 2014 launched with 11 FIs.
Both Android Pay and Apple Pay came to market with these nine banks:
- American Express
- Bank of America
- Capital One
- Citigroup
- Navy Federal Credit Union
- PNC Bank
- US Bank
- USAA
- Wells Fargo
Android Pay, however, also listed Discover and Regions Bank as participants. Apple Pay, meanwhile, included JPMorgan Chase and Barclaycard in its initial class of FIs.
It seems that “being among the first” has its own intrinsic benefits. Regions, for example, touted its involvement this morning — well, more accurately touted that it was among the first charter banks. Said Scott Peters, head of Regions Consumer Services, “This is another step forward in enabling our customers to manage their finances when and where they choose.”
It is noteworthy that Chase is not on the Android Pay roster. Chase is an avid Apple Pay participant. The bank has been trying to position itself as a technology-oriented retail brand on par with the other Big 3 banks. Not in the case of Android Pay, it seems.
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