Apple Pay Likely To Ship With iOS 8.1 On October 20
Apple’s new NFC-based payment platform, Apple Pay, is likely to launch with the rollout of iOS 8.1 on October 20, Bank Innovation reports.
Sources close to Apple said the timetable isn’t set in stone, but Apple Pay will be available for iPhone 6 and iPhone 6 Plus users once they install iOS 8.1.
Announced at Apple’s iPhone and Apple Watch event last month, Apple Pay utilizes near-field communication (NFC), Touch ID, and the “secure element” (which encrypts all data, keeping it safe from third parties and even Apple) to let iPhone and Apple Watch users pay for goods and services online and in physical stores with their devices—eliminating the need for a wallet. Apple has already signed up the major credit card companies and some big name retailers, and it hopes to appeal to customers looking for a simple, secure payment platform.