This represents the end of a long journey for Target in particular. It was one of the founding partners for Merchant Customer Exchange, whose CurrentC format was supposed to provide more control to retailers as well as deeper insights into shopping habits. Its members staunchly opposed formats like Apple Pay, but CurrentC's sluggish development and the greater convenience of its rivals led to its effective downfall. Best Buy, 7-Eleven and many other MCX supporters eventually gave in and supported NFC -- Target is just later than others.

The news is a milestone for Apple Pay, too. Apple noted that 74 of the top 100 merchants and 65 percent of all retail locations now accept its NFC format. That's still not ubiquitous, but it's good enough that you can generally assume a favorite big-name store or restaurant chain will let you use your phone or watch to complete a sale.