CASHLESS PAYMENTS: The "Apple Pay" system will allow consumers with the upcoming iPhones to tap their handsets at retailers instead of using debit or credit cards.
WASHINGTON: With its new mobile payment system, Apple is likely to use its market power to accelerate adoption of smarter retail payment technology and boost security amid growing concern over hacking.
Apple, as part of an ambitious series of product announcements Tuesday, unveiled its "Apple Pay" system that will allow consumers with the upcoming iPhones to tap their handsets at retailers instead of using debit or credit cards.
