Apple just unveiled its new payments system, dubbed Apple Pay, leveraging NFC wireless technology embedded into the newly announced iPhone 6. Apple CEO Tim Cook bragged that the new system “will forever change the way that all of us buy things.”
On stage in Cupertino, Calif., the company’s executives on the ease of use — showing how to tap the iPhone against a payment device to pay for a purchase — as well as security and privacy, which is a hot-button issue after recent celebrity account hackings involving the company’s iCloud service.
“Apple doesn’t know what you bought, where you bought it, or how much you paid for it,” said Apple executive Eddy Cue. “The transaction is between you, the merchant or the bank.”
It will launch in the U.S. starting next month, as an update to iOS8.
