Apply Pay introduced at Apple Press Conference

After talking about how annoying the hassle of fumbling through a wallet or purse can be, and diagramming what exactly that consists of, Tim Cook announced Apple Pay.  Thanks to new technology, Apple and the iPhone 6 are reshaping the way consumers spend their money,

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Simply tapping a pay station will allow iPhone 6 customers the ability to pay for a purchase.

With NFC technology inserted into the top of every iPhone 6 and 6 Plus, as well as Touch ID and a new Secure Element, the iPhone 6 can now be your new form of payment.

Put away your credit cards, stop searching through your purse or wallet to find your preferred payment method.  Everything can be taken care of in a simple step from your phone.

Apple Pay does not store your credit card information either.  Everything is stored as device specific numbers, meaning that if your phone is lost or stolen, you don’t need to cancel your cards as they aren’t actually on the device.  Apple has truly put plenty of security measures in place.

Also, Apple Pay doesn’t record where you are buying things or how much you are paying for them.  it is about ease of use, not collecting your information.

For a long time, technology companies have clamored towards a virtual wallet, and the removal of the security issues raised through credit cards and paper money.  Cook brought up a Wall Street Journal article talking about the desire to move towards a virtual wallet.

Thanks to Apple Pay, it looks like the iPhone 6 is going to lead the way.

While I am still somewhat skeptical of having someone, or something rather, manage and keep track of my money, I absolutely love the ease of use.  If Apple is able to pull this off successfully with retailers across the globe, as well as doing so without hiccups, they may have just created one of the most important technologies in our world today.

Stay tuned for more Apple news throughout the day.