If you're worried about the security of your financial transactions, you only need to think back to Christmas 2013 to remember why. That's when cybercriminals breached the retailer Target's computer system, exposing tens of millions of people's personal information to hackers.
There have been countless hacks since then. So, advances in payments like the EMV cards with computer chips are a welcome change. Rather than storing all your information on the cards, making them vulnerable to attack, they hide each of your transactions behind one number.
Which is similar to what Apple is now doing with its digital wallet, Apple Pay. To use it, you just place your phone on a card reader, or tap your Apple smartwatch twice.
To keep your transactions secure, Apple doesn't collect your personal information. Instead, it creates a unique code for each card, the Device Account Number (DAN) that's saved onto a secure disk. (Google uses a similar system with its Android Pay.)
You can use Apple Pay in stores. In 2016, you may be able to use it to send your family money, too.
It's unclear so far how the system would work, or if consumers would be charged to use it. But, according to reports, Apple is talking to financial institutions like Chase, Wells Fargo and Capital One about it.
If Apple Pay's peer-to-peer money exchange does launch, it will be a direct competitor to systems like PayPal. With these digital systems, you hook up your bank account to your email address.
When you want to send money, simply type in the email address of the person to receive the money. In minutes, the money is taken out of your bank account and put into your family or friend's bank account.
Keep reading Happening Now for updates on Apple Pay, including new features as they're released.