Update On :28 October 2014
"Apple on Monday launched its Apple Pay mobile payment system in the United States, for use with Apple's latest iPhones and to a limited extent its new iPads, as well. Apple Pay allows purchasing transactions to be performed with a phone swipe -- as long as a retailer has the right hardware.
Purchases within apps can be completed using only the Touch ID fingerprint reader on an iPhone 6, 6 Plus, iPad Air 2 and iPad mini 3.
""Apple Pay will be a phenomenal success,"" said Trip Chowdhry, managing director for equity research at Global Equities Research.
""Not only are the credit card issuers, merchants and credit card companies behind Apple Pay, but it is the most sensible solution we've seen so far,"" he told the E-Commerce Times. ""It puts the secure element for the transaction on a chip in the device, not in the cloud, which is a fundamental problem that Google wallet has.""
News Source From : http://www.ecommercetimes.com/story/81227.html