At its special event today, Apple revealed that its Apple Pay mobile payments option will certainly introduce on this Monday, October 20 with iOS 8.1. The firm additionally kept in mind that it had enrolled one more 500 financial institutions to work with Apple Pay since announcing the solution last month.

Apple Pay will certainly be compatible with iPhone 6 and iPhone 6 Plus and will sustain the Apple Watch when it launches in 2015. Apple is highlighting safety and also security with Apple Pay, as individuals just hold the iPhone 6 or iPhone 6 Plus to a receiver while holding the Touch ID home button. Card numbers are saved or shared in a “Secure Component” performance, and are never ever noticeable to Apple or cashiers.

Apple Pay will certainly first be available in the United States and also will certainly work with American Express, MasterCard and Visa. Apple also provides Citi, Financial institution of America, Resources One, Wells Fargo, Chase, and also a number of other financial institutions as partners.

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