Verizon is the latest wireless carrier to abandon contracts, announcing that it no longer offers long-term service contracts and phone subsidies to customers. This change means customers now pay a monthly access fee for each phone on their account, and choose a data package that best fits their needs. The cost of any new wireless device will also be split across a 24-month period.While many carriers have opted to switch over gradually, Verizon has done it all at once. If you are currently under contract, you won’t see any immediate change. You also don’t have to change to the new plans, but you will in some cases save money depending on how your plan is structured.