Apple's new mobile payment platform for the iPhone 6 and 6 Plus went online Monday afternoon following Apple iOS' new software update for its mobile platform, CNN Money reported.

Apple Pay can be used in two ways. It allows iPhone 6 and 6 Plus owners to send money at participating stores by activating their device's fingerprint scanner, "Touch ID," and presenting the phone to the register.

Payment information is sent through short-range radio waves and goes from a small, high-tech chip inside the new iPhones to the store's register, known as Near Field Communication. It's only available on the newest version of the iPhone.

Once you purchase your item, the charge goes directly to whatever mode of payment you've set up with Apple: either your debit or credit card.

On Monday, 220,000 store fronts and 23 online stores like Bloomingdale's, McDonald's, Staples and Whole Foods began accepting the electronic payment. That amount of stores only accounts for 5 percent of the country's retail location, so regular credit cards should remain in wallets just in case. Apple Pay doesn't work in conjunction with corporate, prepaid or store-branded cards.

Richard Doherty, an analyst with the Envisioneering Group, told USA Today that Apple Pay has the potential to make consumers feel more comfortable during a time when many stores have suffered security breaches.

"Consumers are more scared about credit card misuse than at any other time," he said. "Banks and credit card companies are receptive because of the security built into the TouchID fingerprint sensor. Happier consumers will be more eager to buy."

Although Visa, American Express and MasterCard, along with 500 other banks, are working with Apple Pay, many weren't available yet on Monday and users took to Twitter to complain.