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Big changes are coming to payments this week; here's what you need to know

Martyn Williams | Oct. 1, 2015
Chip cards and competition for Apple Pay are arriving.

To use any of the three systems, the store will need to support contactless payments. To see if that's the case, there's a handy logo that is used on many terminals in the U.S. and worldwide.

NFC payment terminal
A payment terminal with an NFC payment logo compatible with Apple Pay and Google Wallet. Credit: Martyn Williams

Support for the smartphone-based systems varies by retailer and by bank, so that too will take some time to roll out so it's available to all consumers.

Apple hasn't said much about consumer use of Apple Pay, so hard numbers on its popularity are unknown. But Apple, Google and Samsung all see the future of payments as being tightly linked to smartphones.

 

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