Wells Fargo Enticing Users to Try Apple Pay With $10-$20 Credits

While some merchants are pushing back against Apple's new Apple Pay mobile payment service as they work on their own competing solution, banks are putting their weight behind Apple's solution that seeks to streamline the current experience of using a credit or debit card.

In an effort to encourage users to adopt Apple Pay, Wells Fargo has just launched a program offering credits of up to $20 just for trying out the service. Wells Fargo credit card users can receive one-time $20 credits, while debit and prepaid card users can receive $10 credits simply by using their iPhone 6 or 6 Plus to complete an Apple Pay purchase on their cards through November 30.

wells_fargo_apple_pay_promo
Credit card customers will receive $20 credits on their statements within 1-2 billing cycles, while debit and prepaid customers will receive $10 credits on their linked Wells Fargo checking accounts within 45 days.

Banks have been strong supporters of Apple Pay, as the Touch ID authentication offers improved security over traditional credit cards, reducing fraudulent purchases for which banks assume responsibility. Apple does take a small cut of transactions processed using Apple Pay, but that amount appears to be a worthwhile tradeoff for these banks.

(Thanks, Matthew!)

Related Roundup: Apple Pay

Top Rated Comments

bpeeps Avatar
81 months ago
Yeah, CurrentC is DOA.
Score: 25 Votes (Like | Disagree)
Glassed Silver Avatar
81 months ago
Swoosh, did you hear that?

That was the sound of CurrentC's significance plummeting long before arrival.

Glassed Silver:mac
Score: 20 Votes (Like | Disagree)
C DM Avatar
81 months ago

Welcome to ApplepayRumors! Enjoy your stay.

An Apple site discussing an Apple service...who would ever think of such a thing!
Score: 15 Votes (Like | Disagree)
budselectjr Avatar
81 months ago

Plus Apple pay may be even higher with Apple's cut included.

For the 1,000th time, the retailer does not pay extra for a Apple Pay tranaction. The banks are the ones paying Apple.
Score: 14 Votes (Like | Disagree)
greytmom Avatar
81 months ago

With apple pay, all the liability is on you because of how secure it is. Any "misuse" that happens, the banks assume you helped the criminal, so you have to pay for any fraud that might happen.


Wow. Your user name is incredibly misleading.
Score: 9 Votes (Like | Disagree)
zioxide Avatar
81 months ago

You're kidding right? Credit cards cost 2-3% of a transaction value while CurrentC ACH is close to $0. Plus Apple pay may be even higher with Apple's cut included. A retailer would be stupid not to push CurrentC. Now if Apple and the credit card providers were willing to lower their processing fees down to ACH levels more retailers would probably considered it.

By the way, why can't windows users watch Apple events live on their PCs? Do Apple stores accept Google Wallet or Paypal?


A consumer would be stupid to give any retailer direct access to their checking account when retailers prove every week they can't secure customers personal information if their lives depended on it.

Next thing you know, CurrentC gets hacked like Target, hackers get 40 million checking account numbers and those customers accounts are wiped empty before anyone even knows a breach occurred. Good luck getting that money back, it's not as easy as stopping fraudulent credit card transactions.
Score: 9 Votes (Like | Disagree)

Top Stories

lg wing

LG Considering Exit From Smartphone Business, Halts LCD Production for iPhone

Wednesday January 20, 2021 5:38 am PST by
LG is considering exiting the smartphone business entirely amid declining shipments and accrued losses of $4.5 billion over the past five years (via The Korea Herald). LG CEO Kwon Bong-Seok cautioned staff earlier today that the company is re-evaluating its presence in the smartphone industry: Since the competition in the global market for mobile devices is getting fiercer, it is about...
google maps detailed street level e1611052089473

Google Maps Gains Enhanced Street-Level Detail in Four Major Cities

Tuesday January 19, 2021 2:34 am PST by
Google Maps has quietly been updated to include significantly more detailed street-level information in a handful of key cities around the world. Upon zooming in, Google's maps for Central London, Tokyo, San Francisco, and New York now benefit from shapes and widths that match the scale of roads more accurately. Meanwhile, enhanced graphical representations of sidewalks, crosswalks,...
2019 mac pro side and front

Tim Cook Gifted Donald Trump 'First' 2019 Mac Pro

Wednesday January 20, 2021 5:45 pm PST by
Apple CEO Tim Cook gifted former United States President Donald Trump with the first 2019 Mac Pro that came off of the assembly line in Austin, Texas, according to a financial disclosure report that was released today (via The Verge). "Mac Pro Computer, the first created at the Flex Factory in Austin, Texas," reads the entry, which values the machine at $5,999, the base price for a Mac Pro....
airpods max sim ejector

AirPods Max Headband Removable With Just a SIM Ejector Tool, Hinting at Interchangeable Headbands

Tuesday January 19, 2021 8:25 am PST by
It is possible to remove the headband of AirPods Max with just a standard SIM card ejector tool, hinting at the possibility of interchanging headbands to achieve a different colorway. Image via Prelook In December, MacRumors revealed the large variety of AirPods Max ear cushion color combinations when it became clear that they were magnetically attatched and available for sale separately....
iphone 5s black slate

Images of Unreleased iPhone 5s in Black and Slate Shared Online

Sunday January 17, 2021 9:47 am PST by
Twitter user @DongleBookPro has today shared images of a prototype iPhone 5s in an unreleased Black and Slate color. The iPhone 5s was launched in September 2013. The device featured Touch ID, a 64-bit processor, and a True Tone LED flash for the first time. Other new features included a five-element lens with an f/2.2 aperture, a 15 percent larger camera sensor, Burst Mode, and Slo-Mo...
iphone 12 vs iphone 12 mini

Apple Shifting Some Production From iPhone 12 mini to iPhone 12 Pro to Meet Demand

Wednesday January 20, 2021 8:12 am PST by
Apple has reportedly cut production of the iPhone 12 mini by two million units to create more manufacturing capacity for the iPhone 12 Pro, according to a new Morgan Stanley investment note seen by PED30. Apple is believed to have made the switch for the first quarter of 2021 in an effort to combat continuing lead times for the more popular iPhone 12 Pro. iPhone 12 Pro lead times remain ...
Apple VR Feature

Bloomberg: Apple's First AR/VR Headset 'Pricey, Niche Precursor' to More Ambitious AR Glasses and Could Launch Next Year

Thursday January 21, 2021 3:27 am PST by
Apple's first virtual reality headset will be a "pricey, niche precursor" to a more ambitious augmented reality product, according to a new report from Bloomberg's Mark Gurman. As a mostly virtual reality device, it will display an all-encompassing 3-D digital environment for gaming, watching video and communicating. AR functionality, the ability to overlay images and information over a view...
shot on iphone 12 apple

Apple Highlights Photos Shot by iPhone 12 Users: Portraits, Cityscapes, and More

Tuesday January 19, 2021 6:05 am PST by
Apple today shared a gallery of photos shot by customers using the iPhone 12 mini, iPhone 12, iPhone 12 Pro, and iPhone 12 Pro Max, with scenes including cityscapes, landscapes, portraits of people, and more at day and night. Shot on iPhone 12 Pro Max by "NKCHU" in China (top) and shot on iPhone 12 Pro Max by Rohit Vohra in India (bottom) iPhone 12 mini and iPhone 12 models have a dual camera ...
Apple and Hyundai feature

Apple Car Production Again Linked to Kia Motor's US Plant in Georgia

Tuesday January 19, 2021 4:19 am PST by
Hyundai intends to transition the company's Apple Car involvement to its Kia brand as part of an internal arrangement that could see production move to the U.S., according to a new report today. On Sunday, Korea IT News reported that Apple and Hyundai are seeking a partnership agreement for the upcoming Apple Car by March, and that the electric vehicles could be made at a Georgia factory...
iPhone 13 Notch Feature

iPhone 13 Rumored to Feature Smaller Notch, Pro Model Cameras to Use Larger Image Sensor

Thursday January 21, 2021 1:38 am PST by
Apple's iPhone 13 series will feature a redesigned Face ID system that will allow for a smaller notch at the top of the screen, according to a new report today. The rumor comes via hit-and-miss Taiwanese industry publication DigiTimes, whose supply chain sources also claim that the ultra wide-angle lens in Apple's next-generation iPhones is due for an upgrade. The next-generation iPhones'...