Apple Releases its much expected Payment Platform- Apple Pay

Apple is also introducing its own form of contactless payments via Apple Pay, which turns the new iPhone 6 and 6 Plus smartphones into mobile wallets.
Instead of storing your credit card number, Apple Pay creates a device-only account number each time you make a transaction.

The service, which launched today, Monday alongside iOS 8.1, is compatible with McDonalds, Whole Foods, Panera, and Disney theme parks, as well as Apple retail stores, with more to come.

To be able to use this service, you need an iPhone6 or IPhone6 Plus with the latest iOS 8.1 update. It won't work with an iPhone5s with iOS 8.1. It is exclusively reserved for iPhone 6 users.