Android Wear 2.0 will have stand-alone applications. This means that smartwatch will be able to work independently of smartphone. Device’s hardware is required to have NFC built-in in order for Android Pay to work on Android Wear. The expected process is like pen the app on your watch, choose desired credit card, and hold your compatible NFC-equipped watch to terminal. Once registered, a green check mark animation will appear, and you can check your most recent transactions straight from the watch.
Read more at Phandroid: Leaked screenshots show Android Pay on Android Wear 2.0
Google is expected to officially launch Android Wear 2.0 on February 8 and also announce new smartwatches that were made in collaboration with LG.
Read more at Phonedog: Android Pay for Android Wear app screenshots posted by Google