Along with the iPhone 6, iPhone 6 Plus, and Apple Watch, Apple announced another potentially game-changing development last week: Apple Pay. Apple Pay works like Google Wallet and has immediate relevance to small business e-commerce. The feature allows users to store credit cards to use in online and in-store transactions. By simply swiping and verifying identity through the built in fingerprint reader, users can make purchases online.

With the right equipment, Apple Pay will work in person, too. Apple’s new iPhones and watch come equipped with near-field communication (NFC) chips that use magnetic-field induction to talk to devices built with a corresponding chip to complete in-store transactions.

iOS 8 will come with an Apple Pay API for developers, so talk to your IT professional about updating your payment systems for the new payment method.

By Prasana William