Apple Pay launch rumors fly as experts say mobile wallet craze years off

Apple says its first mobile payment system will launch this month, but has yet to confirm a specific date. Now, a new leaked memo suggests Walgreens will begin rolling out the service next Saturday. The memo, which was obtained and published by MacRumors, says Apple Pay will be launching Oct. 18 in its first sentence. It’s unclear if this is specific to Walgreens or if the memo is referencing a widespread rollout. Apple Pay is the company’s first venture into the mobile payments business. Those who own an iPhone 6 or iPhone 6 Plus will be able to make payments at certain retailers just by tapping the phone.

Enabling this new technology will…reinforce our position as a leader an[d] innovator in the mobile world.

Walgreens memo to store managers

Apple adding Apple Pay mobile wallet to its newest iPhone models and eBay splitting off its PayPal online financial services division have captured attention in recent weeks, but the overall market remains fragmented, the report indicated. Industry tracker eMarketer last week released a report that predicted a mainstream shift to mobile wallets in the U.S. is still years away, climbing to $27.47 billion in the year 2016 and then quadrupling the following year to $118.01 billion.

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