Hold an iPhone 6 or 6 Plus up to a sensor, and the payment goes through.



From Arstechnica:

On Tuesday, Apple CEO Tim Cook unveiled Apple Pay, a new mobile payment platform built into every iPhone 6 and iPhone 6 Plus. It will launch in October as a free update to iOS 8, and it will be supported by 220,000 merchants that already support contactless payments.

"Our mission is to replace your wallet, starting by focusing on payments," Cook said before showing a brief demonstration video of an iPhone user holding the phone up to a sensor at a payment kiosk. "That's it!" Cook said, and then he showed the video once more for those who may have "blinked and missed it." Like other payment apps, Apple Pay will support taking photos of credit cards to import their information.

  Apple unveils Apple Pay mobile payment platform