Redwood Credit Union rolls out Apple Pay

Redwood Credit Union members can now whip out their iPhones instead of swiping a debit or credit card.

In a first for a North Bay-based financial institution, the credit union has rolled out Apple Pay for all its customers. The digital payment system is more convenient and secure than using ATM or bank cards.

Redwood joins larger competitors like Citi and Wells Fargo in offering the service.

“Obviously, some of the big banks came out a bit earlier, but as far as community banks or credit unions in the North Bay, we’re the first to go live,” said Ron Felder, Redwood’s executive vice president and chief lending officer.

Since last week’s launch, about 800 members have signed up. As many as 50,000 of the credit union’s 240,000 members have iPhones and could use it, Felder said.

It works on the iPhone 6, iPhone 6 Plus and other Apple compatible devices. Members hold phones with the downloaded application near special checkout line receivers to transmit payments.

Users will avoid identity theft and hacked accounts associated with card readers.

“It’s super-simple and convenient,” Felder said. “And it’s something members have been asking for.”

Redwood has created a series of tutorials to assist members with setting up Apple Pay on the Web at www.redwoodcu.org/ApplePay.

Santa Rosa-based Exchange Bank offers Apple Pay for credit cards issued in partnership with U.S. Bank, said Brad Hunter, vice president for electronic banking.

He said the bank is expecting to roll out Apple Pay for debit card customers in a few months.

“There’s some testing we have to do with MasterCard, but it’s on our road map,” Hunter said. “We think it’s a good direction.”

Apple launched its application in October. More than a dozen banks nationwide are participating. Scores of national chains including McDonald’s, Petco and Whole Foods accept it as a form of payment.

It does not work on non-Apple devices.

Felder said the credit union will be looking in the future at payment apps for other phones. Apps like Google Wallet could someday serve members with Android devices.

“The payments landscape is evolving at a fast pace,” Felder said. “Making other options available will be a priority going forward.”’

You can reach Staff Writer ?Paul Payne at 568-5312 or ?paul.payne@pressdemocrat.com. On Twitter @ppayne.