Apple Pay accompanies Google Wallet, Paypal, and several other competing technologies as the future of payment systems, but being new, the number of financial institutions that support it are somewhat limited. Granted the more popular and larger banks are practically all on board with Apple Pay so most people will be able to set it up with their accounts; however, those who are part of local credit unions and other small financial institutions may still be waiting.

For those who adopt it, the technology essentially promises to do away with credit card fraud as we know it, so the advent of Apple Pay and the security benefits it brings to financial transactions are undeniable. However, it does currently have two major drawbacks. The first is that because it only works on iOS and Apple Watch products, it does have some expensive and limited hardware requirements. The second is that while growing, the list of institutions allowing Apple Pay is relatively small.

This second feature may be the factor that keeps you from using Apple Pay. Granted, you can always create and fund an account a supported institution to use with Apple Pay, but some people have their reasons for avoiding these and using their preferred banks.

Apple maintains this list in this knowledgebase document, so if you are interested in using Apple Pay and are teamed up with a small and obscure bank, then you can check this list from time to time to see whether or not your bank is added. The list outlines not only the institution, but also the types of cards and accounts that can be used with Apple Pay, which include personal credit and debit cards, co-branded cards, corporate and business cards, and prepaid cards.