Apple Switches to Visa to Support Its Apple Cash Virtual Debit Card

The tech company previously partnered with Discover.

Apple has announced that it's dropping Discover in favor of Visa to provide support for its Apple Cash virtual debit card. The tech company made the switch after partnering with Discover and Green Dot to launch the debit card in 2017.

Key Takeaways

  • Visa is the new payment network for the Apple Cash virtual debit card.
  • Apple previously worked with Discover to launch the card and provide payment processing.
  • The switch opens up more opportunities for use, particularly with international merchants.

Apple Switches to Visa After Five Years With Discover

The Apple Cash virtual debit card was first launched in 2017, but the tech company is planning to take its payment capabilities to the next level.

Two months after announcing that iPhones will have the capability to accept payments via tap-to-pay technology—allowing merchants to use an app in their iPhone to accept payments instead of relying on a third-party card reader—the company ditched its five-year partnership with Discover in favor of Visa.

The switch may be an indicator of how big Apple plans to go with its next phase for Apple Pay. Discover and Visa are virtually at parity in terms of merchant acceptance in the U.S. But it's a different story abroad, with Visa offering much wider international acceptance.

Additionally, Visa has exclusive acceptance with select retailers, including Costco.

For those who have an Apple Cash virtual debit card, the card will now display the Visa logo in your digital wallet. Beyond that, there won't be any changes beyond a wider acceptance of the card abroad.

Article Sources

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  1. Apple Newsroom. "Apple empowers businesses to accept contactless payments through Tap to Pay on iPhone."

  2. American Banker. "Apple drops Discover, adds Visa, as virtual debit card partner."

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