Now soon you will be able to store all you credit card information and details inside a passbook and will be able to make payment using a NFC chip and TouchID fingerprint reader to. Apple has announced that they had tied up with three major payment networks American Express, Master Card and Visa and more than 500 more banks has signed with them and they will be rolling out support later this year or by early next year.
Apart from this Apple has also announced that they has tied up with some retailers like Uber, Disney, Starbucks, Levis, Groupon,, OpenTable and some other retailers will support Apple Pay and allows you to pay via digital wallet.
Here your TouchID is used to authenticate and NFC to transmit information. Apple Pay requires some hardware components and at present only iPhone 6 and iPhone 6 Plus are compatible with it.