[a_c_s]

It would be great if the HN crowd would stop critiquing things before learning how they work.

- If your iPhone gets stolen then you deactivate it via Apple's existing Find My Phone feature. Deactivating your device will block payments but you won't have to talk to your bank nor will you have to get the cards themselves replaced.

- You can use a password instead of the thumbprint to pay. So you could indeed lend your phone and password to somebody for them to buy things for you. Or you could just reimburse your friend for whatever they purchased.

- People already have a working smartphone on their person at nearly all times, I don't see how "wearing out more easily" is much of a critique. Nobody is suggesting that once somebody starts using ApplePay they destroy the corresponding physical card.