Apple is planning to debut Apple Pay on the third Monday of the month, reports Bank Innovation. The outlet claims that according to “multiple sources close to Apple,” the mobile payment service is scheduled to launch on October 20, alongside iOS 8.1.
On Monday, Apple released the first beta of iOS 8.1 to developers, and hidden settings pertaining to Apple Pay were discovered within the firmware. Bank Innovation says it has learned that this code is there so Apple can test Apple Pay prior to launch.
The move has appeased retail-affiliated developers, who were concerned that they wouldn’t be able to test out Apple Pay before its public release. Many of them are expecting heavy Apple Pay volume on day one, and fear that the service will “be the next Siri.”
Bank Innovation has been very active in reporting on Apple’s mobile payment service in recent months, and has been fairly accurate. That being said, the fact it calls October 20 a “current expected timetable,” means the date should be taken with a grain of salt.
Introduced on September 9, Apple Pay will allow iPhone owners to pay for goods and services both online and in physical stores using their handsets. The service has already garnered the support of major credit card issuers, financial institutions and retailers.