Not even remotely as fast as Apple Pay. Like most/all Apple Pay users, I use both very frequently (Apple Pay where it's available, chip where it's not) and the difference in speed, in favor of Apple Pay, is very obvious.
Also chips are not as private or secure. The privacy difference should be obvious; vendors can (and do) track your purchases even if you use a chip. Not important for everyone, but important for some, and a feature that shouldn't be ignored.
For security, see this article:
https://blog.bluepay.com/how-does-apple-pay-compare-to-emv-chip-pin
Where they mention, among others things:
EMV cards can use tokenization, but this extra security feature isn't necessarily standard.
This is an important distinction — especially for e-commerce merchants.
In the online world, EMV's security technology becomes obsolete. With online shopping carts, there's no way for customers to use the embedded chip. And thus, chip & PIN cards are about as secure as normal swipe & sign plastic. Apple Pay's tokenization works for all retail environments — online and offline.
Since tokenization is non-standard, you have no idea if that's the underlying technology in play when you use your chip card. Tokenization is integral to the design of Apple Pay, though and is something you can be guaranteed of.
One of the many reasons I use Apple Pay everywhere I can. I just which more gas stations would start supporting it (I've seen a couple so far).
