Apple announced Apple Pay in September 2014, a mobile payment feature that runs on the iPhone 6. Apple Pay uses Apple’s Touch ID and takes advantage of NFC technology, meaning users can pay for goods and services in the real world using the payment information already associated with their iTunes accounts.
Apple Pay works by tapping your phone on a payment terminal and putting your finger on the home button for Touch ID. Users can see their credit cards in the Passbook application. The information is stored in the iPhone 6’s new Secure Element chip. When you add a card, Apple doesn’t store the credit card on its own servers or give it to the merchant; each time you pay you use a one-time payment card. Apple doesn’t collect payment history or track your purchases.