Comment Re: Apple Pay (Score 1, Informative) 355
I suggest you read up on the technology. You could take a look at Swipe as I think it's probably the closest pre-Apple Pay implementation to what Apple Pay is (Swipe, IS an Apple Pay provider, however). Banks are jumping onboard now that the technology appears secure. Apple claims another 500 banks have joined since last month.
Your card details are stored within a secure chip on the iPad. When you make a purchase, the card info hits the CC provider and a token is returned for THAT transaction. That is passed to the vendor who completes the charge and sends it to the CC processor. The CC Processor sends back a response to the vendor that transaction is completed and then a response is sent to the customer.
You can manually enter your CC info or take a picture of it using the iOS device. That image, is verified by the bank/CC company and then the information is loaded into the secure chip.
The beauty is that your CC info is only exchanged with the bank.
If your device is stolen, you can immediately render the CC info stored in it useless by logging into your iCloud account (I would assume, you have 2 factor authentication turned on - which I think Apple is now requiring).
I don't know how this compares to PayPal or Google Wallet as I don't use them. I do know that Apple has made it easy to add Apple Pay to apps and websites, and the user experience counts provided the security holds up. PayPal still looked a complex mess when I viewed the API last month.