During today’s Apple press event, company CEO Tim Cook announced that the Apple Pay service will launch on Monday October 20th for all iPhone 6 and iPhone 6 Plus users in the US.

Cook said that since the first announcement of Apple Pay in September, it has signed up 500 banks since announcement. It has also added a number of new retailers since the announcement, and all of them will roll out support between now and the end of 2014. Some retailers will also allow for customers to pay for items inside their iOS apps via Apple Pay.

Cook stated, “We believe Apple Pay is going to change the way we pay for things.” Stay tuned as we will have more from today’s Apple press event.



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