Apple has revealed its mobile payments play, and it features NFC and Touch ID, as many expected. Essentially, with the new iPhones, a user holds their phone near a payment terminal, and the payment card they’ve set as a default is called up, prompting a Touch ID action where the user authenticates their transaction. This is the TechCrunch demo video and is probably the best of the demo videos out there.
For me the really interesting element is the self-checkout in participating stores. That would mean major queue-busting!