You’ll soon be able to pay for your in-store and online purchases using just your iPhone 6 and iPhone 6 Plus. Apple Inc. is officially rolling out its Apple Pay mobile payments to its devices and stores this coming Monday.
The mobile payment system, first announced at Apple’s Sept. 9 iPhone 6 event, incorporates near-field communication technology with privacy features to make payment as simple as holding a finger down on the iPhone’s Touch ID fingerprint reader. Three major credit card networks, namely American Express, Visa and Mastercard, will support Apple Pay. In addition to major banks such as Bank of America, Chase, Citi, Wells Fargo and Capital One, over 500 banks are gearing up for Apple Pay in the coming months.
Apple Pay will be accepted in Apple Stores, McDonald’s, Disney Stores, Subway, Walgreen, Panera and more. Apple is expected to unveil more partners in the coming months.
Though many retailers will support Apple Pay, not all will support its in-store payment feature.
For example, Target will support Apple Pay only for online purchases. “We’ll use Apple Pay in the Target app, but not for in-store payments,” a Target representative said.
While some retailers such as Best Buy are considering the feasibility of Apple Pay, others such as Walmart have rejected the mobile payment solution in favor of CurrentC, a competing mobile payment solution rolling out to stores in 2015.