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Apple just announced a new mobile payments system called Apple Pay.
Apple Pay will work with an NFC (near field communication) antenna that will be built into every new iPhone as well as the new Apple Watch.
To get started with Apple Pay, you can simply add a credit card from your iTunes account. You'll also be able to add new credit cards to Apple Pay just by using the iSight camera on your phone — no need to type in card numbers. Each card will get a device-only account number, so the actual credit card number is never stored on either your phone or Apple's servers.
The service is starting in the U.S. and will work with American Express, Mastercard, and Visa, as well as several major banks, like Capital One, PNC, and Chase....
Via Jeff Domansky
Of all the Apple hoopla, this Apple Pay system is going to have the biggest impact now and in the future.
Obviously, Apple has come up with some plan to make our lives easier or possibly harder with the Apple Pay. I personally think its a great idea.. I NEVER leave home without my phone however, I've left without my wallet many times. I already own Apple, so when this get's released in October I think that they have revolutionized the future of payment.