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Apple Pay could launch in the US on November 7

Apple’s entry into the mobile payments market, through Apple Pay, will begin in earnest early next month, according to one of the company’s banking partners.

In an interview with The Daily Dot, the USAA bank revealed Apple Pay will launch for its Visa and Mastercard customers in the United States on November 7.

The date appears to have slipped out as the banks representative was responding to a question about the security of Apple Pay at the time.

It is entirely possible that this will simply be the date this particular bank begins supporting Apple Pay as Apple has previously pledged an October launch

Apple is yet to acknowledge an official date for the Touch ID and NFC-powered payment platform, but it is expected to offer more details at the forthcoming Mac and iPad event on October 16.

Before Apple Pay can launch, the firm must update iPhones to iOS 8.1. It is currently in beta and expected to drop later this month.

Apple has partnered with a host of the leading banks, credit card providers and retailers in the United States in order to give Apple Pay the best chance of success from a very early stage.

The platform was announced alongside the new iPhones last month. It works by storing the users credit card information (users can just take a picture of it) and allows users to send a one-time, device specific payment number to merchants in order to make the payments, rather than the credit card information itself.

Apple is yet to announce plans for Apple Pay to be launched outside the US.

Read more: What is Apple Pay? A guide to mobile payments on the iPhone 6 and Apple Watch

Via: Venture Beat

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