Apple today announced their payment platform, Apple Pay, a secure, private way to make payments. It uses NFC and Touch ID on the iPhone 6 and iPhone 6 Plus to authenticate payments. You need to have your cards added to the wallet on your iPhone and without divulging your credit card information, you will be able to make payments at participating retailers.
The Apple Watch too supports Apple Pay, possibly with the use of NFC combined with your iPhone which is already paired with the device. The details are still sketchy with Apple breezing through the Apple Pay segment concentrating more on the Watch.
