CUPERTINO, Calif. – Las week, Apple finally gave the world a more detailed look into its eagerly awaited “wearable,” and the device is already showing the potential to put a new twist on the shopping, payments and personal financial management experience for consumers.

While most coverage – both within and without Apple – has addressed the Apple Watch’s many health and fitness features, last week’s unveiling also provided some good hints of how the Apple Watch will work with mobile apps and features like Apple Pay, mobile banking, shopping and travel.

First, Apple Pay: It appears to work on Apple Watch as easily as it does on the iPhone 6, in much the same manner. According to a report on the Retail Customer Experience website, the Apple Watch may even reduce the overall time it takes to complete a purchase compared with an iPhone or credit card. But is that enough to increase mobile payments adoption?

The article quotes Appster CMO Mike Wehrs as saying, "Although this may seem like just five seconds of time improvement, that really matters from an adoption standpoint for mobile payments. We see this as a fundamental accelerator for the adoption of mobile payment technology overall."

Apple’s event also highlighted other Apple Watch capabilities that are not necessarily tied to payments, but appear to enhance the mobile environment, including a partnership with Starwood Hotel & Resorts on an Apple Watch app that enables users to unlock a hotel room door without the need for a key. And American Airlines has an app that enables travelers to receive notifications, check in for a flight and store a boarding pass QR code on the watch.

Target has already announced an Apple Watch app – the first retailer to do so, but certainly not the last. The Target app, which tracks users in a store and sends reminders when they're near something on their shopping list, shows the potential for how beacon technology will interact with the new device. Citi and Mint have already developed full-featured personal finance management apps for the Apple Watch, similar to the ones currently available for mobile phones.