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Yep.

And you don't even need a phone around when you pay with the watch.
 
You'll have to wait until 2015 though for that ability, if you don't get an iPhone 6, since the watch is not due out until then.
 
You don't need to get it out of your pocket but it needs to be on your person or within range.

Nope. You don't need a phone around. You just need a phone to setup and sync from time to time so the watch actually know who you are.
Think about when you go running and want to buy something on the way back. Boom. Paid.
 
Nope. You don't need a phone around. You just need a phone to setup and sync from time to time so the watch actually know who you are.
Think about when you go running and want to buy something on the way back. Boom. Paid.

And how would it communicate the transaction without the iPhone if the watch has no wifi?
 
And how would it communicate the transaction without the iPhone if the watch has no wifi?

As far as I understand, it'll lock your ID in the watch for a period of time. And Apple Pay only need NFC.
This is still obscure though. I just heard from various sources about this.
 
I think it may be possible to have an offline mode for the watch and still use nfc apple pay. As long as its synced from time to time. After all, NFC transit cards do not require connectivity to be able to be scanned at turnstiles and busses. (Transaction is actually done on the businesses' hardware which requires Internet connection).
 
So in other words it's not confirmed and you don't really know.

It's Apple's fault keeping it obscure. Since what I heard is a bit sci-fi I can't be 100% sure but the sources are all reliable. Why not keep this information in consideration instead of shooting it down?
People speculated that it need Touch ID on iPhones for confirmation but that seems not to be the case since it's also working with iPhone 5. So if it knows your ID in the watch, you don't need BT or Wi-Fi to pay. I think it's making sense.
 
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The watch "locks down" your ID through skin contact. If you remove the watch, you have to re-enter a PIN to reenable Apple Pay.
 
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