In reply to inthebiz.

Apple Pay requires iPhone 6, 6 Plus, iPad Air 2, iPad Mini 3. Or when the watch comes out, iPhone 5 and above with a watch. The iPhone 5 does not have the requisite TouchID hardware and secure element to support EMVCo tokenization. With the SE, all of the above devices can handle Apple Pay in store (NFC) or online (in enabled iOS applications).