Don’t they call that PayPal?
No. It's ApplePay. . . a completely secure way of paying through NFC payment stations with your iPhone 6 and 6plus that cannot be compromised by people stealing your data or card numbers. You show your credit card to the iPhone, it then validates it with your bank, who validates with you that you are the legitimate owner of the card and the iPhone. When you want to purchase something, it generates a one time token for each transaction supplied by your card issuing bank and even the store does not get the data. You make the purchase simply by holding your iPhone close to the NFC enabled credit card machine and simply press the TouchID home button on the iPhone. Done. The merchant just knows they've made a sale. It's private and safe.
Even if someone steals your iPhone, they cannot use it, because it requires your living fingerprint to invoke the sale. . . or even open the iPhone. Your credit/debit card data is not even stored on the iPhone. . . and the tokenization is stored in 256 bit AES encrypted hash code in a Secure Enclave location built into the processor. ApplePay.