“As a second wave of Apple Watch reviews questions its raison d’etre, Jefferies analyst Sundeep Bajikar argues that mobile payments via Apple Pay will be the killer app for the new smartwatch,” Patrick Seitz reports for Investor’s Business Daily.

“‘We think the convenience of using Apple Pay on Apple Watch with or without a tethered iPhone, while ensuring a higher level of security and privacy as compared to using physical credit cards, is likely to gain traction as a smarter way to pay,’ Bajikar said in a research report Monday,” Seitz reports. “Apple’s mobile payment service will become even more compelling when it ties payments to retailer loyalty programs, he said.”

Seitz reports, “The Apple Watch also is well positioned to become a convenient and secure ‘repository’ of ‘electronic credentials’ including airline boarding passes, membership cards and hotel room keys, Bajikar said.”

Read more in the full article here.

MacDailyNews Take: As we wrote of Apple Watch back on December 30, 2014:

Apple Pay alone will sell the device.