Apple has announced that its new generation iPhones and the Apple Watch will incorporate Apple Pay, a new mobile wallet. The product could give Apple a leg up on mobile payments, a field many companies have attempted to expand with limited success. Using a credit card on their device, customers wave their phone or watch in front of a terminal to pay. The payment is delivered to the terminal using near-field communication, or N.F.C. chip. Apple hopes that its promises about security, including that credit card information will not be stored on the smartphones or devices or on Apple’s servers, will convince consumers that it is safer than using a credit card.