TECH

Apple Pay: Huge New Mobile Payments System Built Into IPhone 6

09/09/2014 18:51 BST | Updated 09/09/2014 20:59 BST
Apple

You may have heard that Apple has introduced a few new products lately.

But one of the more subtle announcements might also prove to be one of the most profound.

Apple Pay is Apple's new mobile payments system, designed to replace your physical credit and contactless debit cards with a new wireless method similar to NFC.

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Under the system - built into the iPhone 6 and 6 Plus, as well as Apple Watch- you simply hold your TouchID sensor, tap a contactless point, and take your goods away.

Tim Cook, Apple CEO, made the announcement at the iPhone 6 and iWatch event in Cupertino, California.

Apple stressed the security and resilience of its new network, saying that it would not store any of your credit card numbers, and that the transaction would not transmit your account details to the store.

It said that it would start with American Express, Mastercard and VISA in the US, with many major retailers, but has not given details on a UK release.