As with existing contactless payment services, Apple Pay will have a relatively low limit on the amount that people can spend using it, making it better suited to impulse purchases of £20 or less.
A wide range of retailers are signed up to support Apple Pay in the UK, including Marks and Spencer, Costa Coffee, Waitrose and even TfL in the capital, meaning that London commuters will be able to pay their bus and train fares using their iPhones, instead of an Oyster Card.
Contactless capabilities have been rolled out across a number of credit and debit card providers in the past year, with compatible terminals set up at a range of retail outlets, restaurants and travel hubs.
It will be interesting to see how Apple has an impact on the use of contactless payments. The popularity of the iPhone range means that it could tip the balance and make paying by card or cash a much less common choice for consumers in the UK.