Discover to Support Apple Pay This Fall

The only remaining holdout among America's four major credit card companies has decided to join the pack and support Apple Pay.

Discover on Monday announced that it has struck a deal with Apple to offer its cardmembers in the U.S. access to Apple's mobile payment service this fall. Visa, MasterCard, and American Express have all supported Apple Pay since it launched back in October.

"As the mobile payments landscape matures, Discover remains committed to giving cardmembers secure options for using their cards and mobile devices," Diane Offereins, Discover's president of payment services, said in a statement. "Discover's focus on simplicity and value for our cardmembers aligns well with the way Apple Pay makes purchases easy and convenient."

As part of the agreement, Discover cardmembers will be able to add their credit or debit card to Apple Pay, then buy goods and services at participating retailers with their iPhone 6, 6 Plus, and Apple Watch. Cardmembers will also be able to use Apple Pay with their iPad Air 2 and iPad mini 3 to buy goods and services within apps with a single touch.

As with all cards you add to Apple Pay, your Discover credit and or debit card will not be stored on the device or Apple's servers. Instead, a unique Device Account Number is assigned, encrypted, and securely stored on the device. Each transaction is authorized with a one-time security code, instead of using the code on the back of your card.

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Discover said that credit card holders will still receive all their current benefits, including Cashback Bonus and the new Freeze It security tool, which lets you stop new purchases, cash advances, and balance transfers if you misplace your card.

As of December, Apple Pay supported the cards that represented roughly 90 percent of credit card purchases in the U.S.