Matt Richman, in an astute piece on Apple Pay's potential:
Apple Pay will succeed for one simple reason: Everyone in the system has an interest in it succeeding. Card issuers like Apple Pay because it reduces their fraud liability. Card networks like it because it reinforces their role in the system. Merchants like that it precludes Target-style data breaches. Everyone has a reason to want Apple Pay to succeed, so it will.
Though Apple Pay will make Apple a ton of money, the strategic implications of the service are worth far more. With Apple Pay, Apple leveraged its business model, cultural influence, and customer base to enter arguably the most heavily-regulated international system on Earth in a way that everyone already in the system had a reason to like. This is an incredible accomplishment, and no other company could have done it.
I use Apple Pay every chance I get --- it's quintessential Apple. So great.