Apple’s launch of the iPhone 6 and Apple Watch is likely to raise the stakes in the smartphone war and also open up a new era of truly wearable technology.

With the new iPhone 6, we are seeing the beginning of the end of the wallet. It incorporates the contactless payment technology that has been the subject of much speculation. The payment technology won’t be available immediately, but it could be the catalyst for another change in the way we live. No need for cash, no need for credit cards, no need for your wallet. Just use your phone.

Alongside the new iPhone comes Apple Watch. Think of it as a front-end to your iPhone that also displays the time. It looks good in terms of technology it looks good in terms of design. We will have to wait until next year to see how good it is to use, plus battery life will be a major factor for all of us tempted to get one. But it’s an exciting and stylish development from Apple.

What about the competition? Many other manufacturers will have anticipated this Apple launch and are surely working on their new products too. Expect a raft of competitive products to follow soon.