Thanks for all the contributions. Glad to share that our community has reached 500 mark.
To me Touch ID (long before Pay) has meant a whole new way of thinking about authentication. Their new payment example is but only one of many transactions a normal person is engaged in each day. Wherever a person needs to verify who they are Apple can provide a way to do it with Touch ID. Passports, Elections, Parcel delivery, and anywhere else you have to sign for something Touch ID can make it easier and more secure. Just take one or two days in your own life and note how many times you have to "show ID" or verify with a signature. Then you'll see each of the next opportunities for Touch ID to take over that transaction. Banks could easily adopt Touch ID and give you a separate teller to deal with just those customers.
I can see preferred flyers in a separate line to verify themselves to security check-in and getting quicker access to the departure lounge. Having already set themselves up with TSA for fingerprints and security clearance it would be trivial to use Touch ID as the pass-point control.
Just wait until the signing of important documents (like a mortgage) can be done with Touch ID. Of course by that time Apple's health kit will be in use by most hospitals, clinics, and doctors to conduct the medical data transactions we are all familiar with.
The money pipe coming out from the walled garden will conceal which of the people inside made the transaction. But their identity will be verified by Apple on behalf of the people at the other end of the pipe collecting the money.
IT professional with a keen eye on current trends in enterprise and consumer technologies.
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