DES MOINES, Iowa (5/26/15)--Payment processor The Members Group (TMG) has enrolled 25% of its issuer clients in Apple Pay, the company reported last week.
The TMG clients enrollment figure accounts for roughly 10% of all financial institutions signed up for Apple Pay. TMG leaders expect nearly half of the processor’s clients will be enrolled by mid-year.
Apple Pay adoption grew at a rate of 21% in April from March. Of the total number of financial institutions live on Apple Pay, nearly 66% are credit unions.
“Apple Pay has been a good test of the credit union movement’s appetite for digital wallet solutions,” said Brian Day, TMG director of digital strategy. “Early-adopter clients have been ecstatic about rolling out Apple Pay and report similar enthusiasm for upcoming solutions like Samsung Pay and others.”
In a recent exclusive client webinar, TMG’s digital and product teams asked nearly 50 attendees which mobile wallets their financial institution plans to implement in 2015. About 83% of respondents said they plan to implement Apple Pay.