Definition - What does Apple Pay mean?
Apple Pay is sometimes informally referred to as iPay.
Techopedia explains Apple Pay
Now, Apple is offering a built-in technology in its devices that allows users to circumvent the commonly traditional process of swiping a credit or debit card, signing a piece of paper or entering a pin code for transaction integrity.
Apple Pay is not yet operational with all banks, and it is still in its nascent stage. But it does point to a growing trend in buying technology, which could mean that the traditional credit and debit cards may get phased out over time.