Apple Pay might launch on October 20th with iOS 8.1

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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.

“Based on multiple sources close to Apple, Bank Innovation has learned that iOS 8.1 will include Apple Pay, and the current expected timetable for the public release is schedule for October 20.”

iOS 8.1 beta 1 contained Apple Pay settings as well as the reveal that the payment service could also come to the iPad, only it would be used to purchased physical items online, but won’t include an NFC option to use at brick and mortar stores.

Apple Pay promises to change the way users pay for items by using contactless payment technology built into the iPhone 6 and Apple Watch. Rather than abolishing credit card companies completely though, Apple Pay replaces them with generic versions in Passbook, with the important financial info stored in a secure enclave.

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

Source: BankInnovation