Apple just announced its mobile payment service for iPhone. The service allows users to store credit and debit cards on their phones and then tap-and-pay at check-out terminals.
Contrary to popular belief, it does indeed use NFC, as confirmed by Apple’s Eddy Cue on stage during the iPhone 6 and iPhone 6 Plus event. It takes advantage of NFC, Touch ID, the Passbook App and features a secure element to keep everything private. Passbook can store Apple Cards, too.
Apple said it never keeps track of what you spend and that the cashier at a check-out counter never sees your name, your pin or anything private. It works in places like the McDonald’s drive-thru, Subway, Whole Foods, Staples, Apple Stores, Disney and more.