I just sold my phone today, and wiped my phone twice prior to selling (Settings/erase all content and settings). I thought this would unpair the watch as well, but when I got home from the sale, I noticed the watch was still working, and still had my Apple Pay credit cards as well as all the apps installed. I even got imessages through the watch (I believe through wifi). Some apps do show that the phone is not connected (Kakao), but others work just fine. Do I have to worry about security issues on the sold phone? I did get a notice that one of my cards was removed from Apple Pay, but not the other one. Also, does anyone know if Apple Pay on my watch will still work without being paired to a phone? I need it to buy a new phone.