Enabling Technologies

Fasten your Seatbelts; Apple Pay might Arrive on October 20th

MEDICI

In a recent development and according to few sources (Appadvice, Businessinsider), Apple is rumored to launch its much awaited payment platform Apple Pay on 20th October, along with the launch of new version of its operating system, IOS 8.1.

There has not been any formal announcement from the company yet and the work is still going on on security features of Apple Pay, but sources close to the company said that the platform will be available for use for the iPhone 6 and iPhone 6 Plus users once they download and upgrade to iOS 8.1. , that means the customers should be able to use the new feature within the next few weeks!

Apple Pay was announced by the company along with the launch of iPhone 6 and iPhone 6+ last month. It features NFC support, touch ID fingerprint sensor and a secure element that keeps all data secure from all third party applications. It will let the iPhone 6 and iWatch users to make payments for goods in online and physical stores directly using the devices. It will not require any wallet to make such transactions.

To make it a grand success, the company has done the ground work by tying up with many big brands and well known retail outlets. The platform has been kept simple, secure and easy to use to appeal to customers.

Mobile wallets have been launched by many players around the globe over the last few years, but very few of them have been successful so far. As per the look of things, we will get to know whether Apple pay will see mass adoption or not in less than one month!

iOS 8.1 beta 1 contained Apple Pay settings as well as it announced that the payment service could also come to the iPad.

Apple’s internal launch date for Apple Pay has ranged between late-September and early-November, but Apple is taking its time to make sure the software is ready at launch.

 

MEDICI Team

MEDICI

MEDICI Team is a group of content writers, bloggers, journalists, researchers, and editors from the MEDICI who collaborate to create FinTech insights.

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