Apple’s first major iOS 8 seeded to developers this week contained clues that Apple Pay is nearly ready for launch, and according to a report from Bank Innovation, we won’t have to wait much longer to replace our wallets with the new mobile payments solution.
The finishing touches are still being made to the security features in Apple Pay, but the report claims that the official release is tentatively scheduled for the third monday of October.
Apple Pay is threatening to put mobile payments companies like Square and PayPal out of business when it launches next month, but according to Square co-founder Jack Dorsey, Apple Pay isn’t actually a threat to his company.
Dorsey revealed yesterday that Square is hoping to use Apple Pay to its advantage by building a new register for sellers that accepts Apple Pay and pretty much every other form of payment you can slide across a counter.
Apple’s insistence on secretive behavior is well known. When it came to entering mobile payments with Apple Pay, that veil of secrecy didn’t drop for a second — with Apple insisting on some pretty stringent security measures, despite dealing with some of the giants of finance.
The code-name it chose for one of its partners on the project might strike you as a bit familiar, however — since it was later re-used as the name for Apple’s latest iteration of OS X.
“Our first code-name was Yosemite,” Barry McCarthy, president of Financial Services at FirstData, told me in an interview. “Later on when we found out that was also the name Apple had selected for its new OS, we changed it to Project Acadia, after another U.S. national park. We weren’t allowed to use or even say the name of the technology company we were working with — which was of course Apple.”
Apple finally added NFC to the iPhone 6 and 6 Plus, but if you were hoping that the company’s new NFC chip will allow you to pair speakers or integrate NFC tags into your favorite apps, you’ll have to keep waiting. Apple has put its NFC chip on lockdown, at least for now.
Sources at Apple have confirmed to Cult of Mac that the NFC chip on the iPhone 6 and 6 Plus will only be used for Apple Pay when it launches this week.