"Yes. Apple Pay uses security features built in to the hardware and software of your device to help protect your transactions.
In addition, to use Apple Pay, you must have a passcode set on your device and, optionally, Face ID or Touch ID. You can use a simple passcode or you can set a more complex passcode for even greater security.
Apple Pay is also designed to protect your personal information. Apple doesn’t store or have access to the original credit, debit or prepaid card numbers that you use with Apple Pay. And when you use Apple Pay with credit, debit or prepaid cards, Apple doesn't retain any transaction information that can be tied back to you — your transactions stay between you, the merchant or developer and your bank or card issuer.
For more information on Apple Pay security and privacy see https://support.apple.com/en-au/HT203027