The payments solution Apple Pay comes online Monday, the company said at a press event today at its Cupertino, Calif., headquarters.
CEO Tim Cook says that since the September event, Apple has signed another 500 banks that will integrate with the technology. The application will work online as well as in mobile apps, and allows consumers to make payments using Apple’s Touch ID sensor.
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The new payment method was rumored to roll out this Saturday, according to a leaked internal memo from the Walgreens drug-store chain.
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Though NFC payments have been around for a while, many think Apple’s product might have both the right timing and brand popularity to help the method catch on. Apple Pay first debuted at the company’s September event.
For more, check out VentureBeat’s live analysis blog.
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