Apple Pay to launch Oct. 20 in U.S., 500 new banks on board

Apple Pay, the NFC-dependent wireless transaction technology introduced in the iPhone 6 and iPhone 6 Plus, has been confirmed for an October 20, 2014 launch in the United States. A collection of previously-announced retailers will be the first to have Apple Pay in their stores.

Five hundred additional banks have signed up to support Apple Pay since it was announced, including all of the major networks and a number of major retailers signing on to support by year’s end. Apple CEO Tim Cook noted today that Apple Pay payments can also be made online, not just at retail stores.

Later in the event, Apple also introduced Apple Pay for the iPad Air 2, however, it explicitly omitted any reference to NFC capabilities for in-store purchasing using iPads. The suggestion was that Apple Pay can only be used for iPad online purchases.

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