Along with the iPhone 6 and 6 Plus and the iWatch, Apple also announced its new mobile payment system, Apple Pay. With many suggesting that Apple Pay is the next major payment method, will it make plastic cars obsolete?

While Apple Pay certainly is a great feature, the technology itself is nothing new. Payment methods using NFC technology have existed for a while now, especially on Android phones. These include Google Wallet, PayPal and so on.

Despite the other payment methods, Apple Pay is more likely to take off for a number of reasons. First of all, Apple already has a massive market that it can tap into, boasting around 800 million people who already have their iTunes accounts and credit cards connected.

Another thing that will definitely play in Apple’s favor is the fact that Apple Pay is extremely easy to use. This will be a very important factor for users who probably would only use the service once if it wasn’t intuitive.

Despite the fact that Apple has so many users and that Apple Pay is very easy to use, many are a little more skeptical about the service. Retailers are still yet to set up Apple Pay stations, although tens of thousands of shops across the U.S. have released statements saying that they will support Apple Pay.

Another reason that adoption of the service may take a while is the fact that it is only available on the iPhone 6 and iPhone 6 Plus. It may be a few years before enough iPhone users have devices with NFC technology to say that Apple Pay is a major payment method.

Only time will tell if Apple Pay does indeed become a major payment method, but it likely be years before credit cards and debit cards are phased out completely.