This shows a problem with US retail systems dominated by a few large corporations in each category, making it easier for them to resist bottom-up innovation (ironically, the innovator in this case also being a large and dominant company).
In Europe and Asia we still have more competition and payment systems are more diverse and flexible, with banks pretty much supporting all common standards and getting on board with online and NFC based systems. Not to suggest there is NO politics or attempts to dominate involved, but the reality is we have more choices and innovations have been pretty rapidly adopted since a larger share of purchases go though local merchants who just want to get paid and promote business rather than dominate an industry.
So I will guess that Apple Pay will find broader support outside the USA and particularly in China where they have a deal with Union Pay (the largest bank payment clearing system) to promote Apple Pay along with the already existing NFC and QR code based systems already used in retail.
I'd also expect some places like Hong Kong, Singapore and major Western European countries with high adoption of NFC and OR to add Apple Pay.
For the USA, Apple Pay could actually be a chance to leapfrog some of the evolutionary improvements in payment such as PIN & Chip, NFC etc the US has been lagging on because there is such a large iPhone user base, but question is, will the retailers get on board?
It seems strange to me that a big retailer struggling to regain profitability such as Best Buy would be quick to embrace something that could generate sales, but then, if they were an innovative retailer maybe they would be more profitable instead of closing stores. Ditto for Walmart which seems to be on a downward trend.
Generally Europeans use Master Card, Bank Cards or NFC/prepaid cards. AMEX is not common or popular due to the fact few European companies or individuals have accounts.
You will also find acceptance of AMEX spotty at best in Asia outside of large hotels catering to Americans.
AMEX is basically an American thing, and an American Business thing at that.
Relevant question. After ?Pay does away with wallets, the next iteration will be the ?Condom, so Secret Service agents scoping out Cartagena will never get caught short!
Wow. No, they are not saying this to their customers at all. It's a much, much bigger question than that - as others have pointed out, the whole question revolves around adoption of NFC payment systems generally.
Here in Australia, many retailers have adopted NFC payment terminals - at first it was very minimal, but now we're seeing very rapid adoption. This is great, because it means that if and when Apple Pay is introduced here, it should immediately be very usable for most Apple customers.
The U.S. is generally very far behind in this field, I think. When I was there a few years ago, I noticed that the payment systems were fairly antiquated (even down to the fact that nobody seems to use EFT, and there's still so much reliance on cheques (or, "checks").
So the question is much broader than just retailers adopting Apple Pay specifically.
Also, much of this is going to be driven by consumer demand too. As more and more retailers open up to NFC, more consumers will be asking (and expecting) to see it supported.
Agree about the U.S. The UK has had chip & pin since 2004 and the French had their own system in 1992.
In Europe MasterCard have announced that all new POS terminals must incorporate NFC by 1st January 2016 and existing ones must be replaced by 1st January 2020.
It seems strange to me that a big retailer struggling to regain profitability such as Best Buy would be quick to embrace something that could generate sales, but then, if they were an innovative retailer maybe they would be more profitable instead of closing stores. Ditto for Walmart which seems to be on a downward trend.
How would a system like Apple Pay (or any other NFC based solution) generate sales? Adding support for Apple Pay isn't going to make consumers buy products that they normally wouldn't be buying already had Apple Pay never existed. Aside from a small minority of vindictive Apple users, there won't be a drop in sales by not supporting Apple Pay either. People will just pay with one of the many other options available. I fully agree that these retailers should add the capabilities to accept Apple Pay as it sounds good and a retailer should always make it as easy as possible for consumers to spend money, but lets not pretend that supporting or not supporting Apple Pay is going to have a big impact on revenue in either direction.
Here is the problem with most of the comments here. The merchants Target and Home Depot ARE RESPONSIBLE! They are because it was not credit cards that were hacked it was in both cases POS system malware (point of sale system malware). In other words the stores own point of sale system was hacked and anyone sliding a debit card got there number recorded and there expiration date and pin number in some cases and then they were given to the malware and in turn the hackers. This makes the retailers responsible
Even worse, if you did the research, Target's breach was to the the fact they gave an HVAC contractor FULL ACCESS to their network to regulate temperatures at their stores remotely. Yes, Target sacrificed your credit card to save a few bucks on heating and AC.
I will shop more at retailers that support Apple Pay because it means they actually care about getting and keeping your business.
Yes, Target sacrificed your credit card to save a few bucks on heating and AC.
Yeah, it's been horrible too. I've received nothing but cash back from that credit card company ever since. This is between Target and the banks, as far as I'm concerned. I care nothing at all.
But they'll all have NFC terminals in a year anyway, since the EMV liability shift specifically says transactions must be cleared on a terminal that supports NFC EMV. I don't think tokenized payments require the merchant to "support" anything at all -- just have NFC readers.
How would a system like Apple Pay (or any other NFC based solution) generate sales? Adding support for Apple Pay isn't going to make consumers buy products that they normally wouldn't be buying already had Apple Pay never existed. Aside from a small minority of vindictive Apple users, there won't be a drop in sales by not supporting Apple Pay either. People will just pay with one of the many other options available. I fully agree that these retailers should add the capabilities to accept Apple Pay as it sounds good and a retailer should always make it as easy as possible for consumers to spend money, but lets not pretend that supporting or not supporting Apple Pay is going to have a big impact on revenue in either direction.
Especially since the physical credit card -- soon to be secured with chip and pin -- will always work regardless of how much juice your phone's battery has left.
I suppose I can understand this. The merchant's themselves, unlike the card issuers and consumers,
don't particularly benefit from the increased security, so have little incentive to purchase compatible equipment,
if they haven't already.
What I think they are overlooking is the same rationale that made cards popular in the first place.
Ease of use and ready acceptance remove impediments to more casual and impulsive spending...
What merchant doesn't like that? OK, they all do, but if you already have cards to whip out anyway?
Actually the merchant DOES benefit, big time!!! Wal-mart, Best Buy and Target having been working on CurrentC. Why is that? Why toss NFC? Because up to this point, the Transaction fee's have been costly. it's around 2.8% or more. using Google Wallet is the SAME as using a normal credit card. You see this out in the open at gas stations with their Cash Price and Credit Price. With thousands of terminals and millions/billions of transactions, that's a lot of money these company's have to pay out which is why they've been working on their own system!!!
Apple, because of the hardware/software ssecurityof ApplePay. You're encrypted Credit card info is stored in the CPU like the TouchID info, Something NO Android phone has, or even be possible for most of them as they can't custom design their own CPU's like Apple can. Apple worked out a lower transaction fee of 1.5% and that includes Apple's tiny cut of .0015% I think it was. That's more then a 1% savings of using ApplePay over a Credit Card or Google Wallet!!! There's nothing better for any business other then CASH!!! So YES, there is a incentive!!! If I owed a business, I'd Advertise ApplePay!!! I'd want people to use it over anything and everything else other then CASH!!!
Using a iPhone ^ or 6+ to pay by ApplePay is also QUICK! Just hold your phone over the terminal and use the TouchID and You've paid. It's quick. At least as fast, if not faster then a Credit Card. Faster then using NFC/Google Wallet on a Android phone. and you're not using your Credit Card which if you haven't seen the news with all these Company's getting hacked and a free for all with people's Credit Card numbers!!!!
Just 3 weeks ago I had to once again replace my Wells Fargo Visa Debit card for the 3rd time for the 3rd year now!!! I had just gotten up from bed and Wells Fargo Fraud department called me and asked if I ordered some Pills a couple times that Saturday morning. Of course I said NO, and so the transactions I guess never went threw, but they canceled my card, I had to go to Wells Fargo and get another temp card and wait for my Real one to come in the mail and then go to Amazon, Netflix, the garbage company, my Cell phone company, and on and on and change my Credit Card Data!!! Now that really sucks. The more I can use ApplePay and the less I have to put my Credit Card info out there, the Better!!! There's is a true benefit for everyone.
Or maybe bc people don't care that much...? Is offering Apple Pay going to bring in additional revenue? Does sliding your card deter you from making purchases?
Given the well publicized repeated security breaches, Target, ACME Grocers, Home Depot etc., people are going to have incentive to look for more secure payments methods. Getting your credit card number changed when "unnamed vendors" report a security breach to your card issuer is a pain, so is carrying a lot of cash.
Using a iPhone ^ or 6+ to pay by ApplePay is also QUICK! Just hold your phone over the terminal and use the TouchID and You've paid. It's quick. At least as fast, if not faster then a Credit Card. Faster then using NFC/Google Wallet on a Android phone. and you're not using your Credit Card which if you haven't seen the news with all these Company's getting hacked and a free for all with people's Credit Card numbers!!!!
With Google Wallet through NFC, I see the total on the terminal, I touch my phone to it, approve amount, grab receipt, and go. Google Wallet generates a temporary credit card number that is used in the transaction. It's just as fast.
Quote:
Originally Posted by JBDragon
Just 3 weeks ago I had to once again replace my Wells Fargo Visa Debit card for the 3rd time for the 3rd year now!!! I had just gotten up from bed and Wells Fargo Fraud department called me and asked if I ordered some Pills a couple times that Saturday morning. Of course I said NO, and so the transactions I guess never went threw, but they canceled my card, I had to go to Wells Fargo and get another temp card and wait for my Real one to come in the mail and then go to Amazon, Netflix, the garbage company, my Cell phone company, and on and on and change my Credit Card Data!!! Now that really sucks. The more I can use ApplePay and the less I have to put my Credit Card info out there, the Better!!! There's is a true benefit for everyone.
I don't understand why people prefer debit cards to credit cards, unless you are poor with finances. If that's the case, then you should probably stay out of this conversation. Maybe spend your time learning to use apostrophes correctly.
Just 3 weeks ago I had to once again replace my Wells Fargo Visa Debit card for the 3rd time for the 3rd year now!!! I had just gotten up from bed and Wells Fargo Fraud department called me and asked if I ordered some Pills a couple times that Saturday morning. Of course I said NO, and so the transactions I guess never went threw, but they canceled my card, I had to go to Wells Fargo and get another temp card and wait for my Real one to come in the mail and then go to Amazon, Netflix, the garbage company, my Cell phone company, and on and on and change my Credit Card Data!!! Now that really sucks. The more I can use ApplePay and the less I have to put my Credit Card info out there, the Better!!! There's is a true benefit for everyone.
You should never have paired a debit card to anything online because it does directly tie into your bank account. A credit card, either the one with the best points or one with a low credit my preferred options online and when I travel abroad because it limits the level of inconvenience if compromised.
I don't understand why people prefer debit cards to credit cards, unless you are poor with finances. If that's the case, then you should probably stay out of this conversation. Maybe spend your time learning to use apostrophes correctly.
That's not really a fair statement.
Many people have debit cards because they don't want to have those extra lines of credit - it does make sense, especially for people who are conservative with their money.
This kind of logic may be different in the U.S. though where credit cards are so prevalent and have such primacy. In other countries, a wide variety of accounts are used and in my country (Australia), savings cards are used primarily for things like groceries and general shopping.
That's not really a fair statement.
Many people have debit cards because they don't want to have those extra lines of credit - it does make sense, especially for people who are conservative with their money.
This kind of logic may be different in the U.S. though where credit cards are so prevalent and have such primacy. In other countries, a wide variety of accounts are used and in my country (Australia), savings cards are used primarily for things like groceries and general shopping.
His initial part of the question is fair but the assumption about being poor with finances isn't. I do agree with you that some people are just conservative with their money but in most cases I've heard they are being foolish by not wanting to build excellent credit in the US.
I've told people to build their credit young to be able to get more choices on loans and better loans if and when they need it. Those that do see the reason to be proactive in this end up getting screwed years (even decades) later. I've built up the lowest risk credit bracket and therefore get the best offers available which I then used to my benefit to have the credit issuers pay me for using their cards. They are my bitch!
Since there is a grace period on all purchases before interest is applied I simply pay off the balances each week, which comes right from my bank account. I even put labels on each card so I know which types of locations offer the best rewards. One offers 5% back on groceries, another is 2.14% back on restaurants, Amazon is 3% back on their purchases. etc.
His initial part of the question is fair but the assumption about being poor with finances isn't. I do agree with you that some people are just conservative with their money but in most cases I've heard they are being foolish by not wanting to build excellent credit in the US.
I've told people to build their credit young to be able to get more choices on loans and better loans if and when they need it. Those that do see the reason to be proactive in this end up getting screwed years (even decades) later. I've built up the lowest risk credit bracket and therefore get the best offers available which I then used to my benefit to have the credit issuers pay me for using their cards. They are my bitch!
Since there is a grace period on all purchases before interest is applied I simply pay off the balances each week, which comes right from my bank account. I even put labels on each card so I know which types of locations offer the best rewards. One offers 5% back on groceries, another is 2.14% back on restaurants, Amazon is 3% back on their purchases. etc.
Right - but people might use their debit card most of the time, and only use the credit card for certain purchases. My experience here is that people tend to use their credit card sparingly; so, they are still building up good credit over a period of time, but they aren't always reliant on credit either.
Again this could in part just be different buying habits in different countries, but I think that we should be careful about making assumptions in this area as well.
Many people have debit cards because they don't want to have those extra lines of credit - it does make sense, especially for people who are conservative with their money.
This kind of logic may be different in the U.S. though where credit cards are so prevalent and have such primacy. In other countries, a wide variety of accounts are used and in my country (Australia), savings cards are used primarily for things like groceries and general shopping.
If someone is financially conservative, I would think a credit card makes even more sense. Get a Discover card, and use it for every purchase that you can, and you get a nice check back from Discover for 2%-5% of your total purchases.
Also, if someone is financially conservative, then I would think that it makes more sense to limit the fraud risk and benefit from the protections offered by a credit card.
The reason I say that debit cards might make more sense if one is not as financially aware or responsible, is that a lack of self control or awareness could lead to overspending with a credit card. If you're on top of your financial game though, a good credit card will help you hold onto more of your money.
Credit rating benefits are another ball of wax, but just on the purchasing side, credit cards can be a very good tool to use.
Actually the merchant DOES benefit, big time!!! Wal-mart, Best Buy and Target having been working on CurrentC. Why is that? Why toss NFC? Because up to this point, the Transaction fee's have been costly. it's around 2.8% or more. using Google Wallet is the SAME as using a normal credit card. You see this out in the open at gas stations with their Cash Price and Credit Price. With thousands of terminals and millions/billions of transactions, that's a lot of money these company's have to pay out which is why they've been working on their own system!!!
Apple, because of the hardware/software ssecurityof ApplePay. You're encrypted Credit card info is stored in the CPU like the TouchID info, Something NO Android phone has, or even be possible for most of them as they can't custom design their own CPU's like Apple can. Apple worked out a lower transaction fee of 1.5% and that includes Apple's tiny cut of .0015% I think it was. That's more then a 1% savings of using ApplePay over a Credit Card or Google Wallet!!! There's nothing better for any business other then CASH!!! So YES, there is a incentive!!! If I owed a business, I'd Advertise ApplePay!!! I'd want people to use it over anything and everything else other then CASH!!!
Using a iPhone ^ or 6+ to pay by ApplePay is also QUICK! Just hold your phone over the terminal and use the TouchID and You've paid. It's quick. At least as fast, if not faster then a Credit Card. Faster then using NFC/Google Wallet on a Android phone. and you're not using your Credit Card which if you haven't seen the news with all these Company's getting hacked and a free for all with people's Credit Card numbers!!!!
Just 3 weeks ago I had to once again replace my Wells Fargo Visa Debit card for the 3rd time for the 3rd year now!!! I had just gotten up from bed and Wells Fargo Fraud department called me and asked if I ordered some Pills a couple times that Saturday morning. Of course I said NO, and so the transactions I guess never went threw, but they canceled my card, I had to go to Wells Fargo and get another temp card and wait for my Real one to come in the mail and then go to Amazon, Netflix, the garbage company, my Cell phone company, and on and on and change my Credit Card Data!!! Now that really sucks. The more I can use ApplePay and the less I have to put my Credit Card info out there, the Better!!! There's is a true benefit for everyone.
Google Wallet is just as fast/quick and convenient as Apple Pay. They both take the same amount of time to use. Google Wallet also does not use my CC #. It uses a virtual #.
Google Wallet is just as fast/quick and convenient as Apple Pay. They both take the same amount of time to use. Google Wallet also does not use my CC #. It uses a virtual #.
For **** sake stop trying to claim Google Wallet is the same as ?Pay. No one is believing your half-truth answers.
Google Wallet is just as fast/quick and convenient as Apple Pay. They both take the same amount of time to use. Google Wallet also does not use my CC #. It uses a virtual #.
While similar there are a few differences, including a critical one. Apple doesn't know what you are purchasing whereas Google does. ? Pay is only providing authentication.
Comments
In Europe and Asia we still have more competition and payment systems are more diverse and flexible, with banks pretty much supporting all common standards and getting on board with online and NFC based systems. Not to suggest there is NO politics or attempts to dominate involved, but the reality is we have more choices and innovations have been pretty rapidly adopted since a larger share of purchases go though local merchants who just want to get paid and promote business rather than dominate an industry.
So I will guess that Apple Pay will find broader support outside the USA and particularly in China where they have a deal with Union Pay (the largest bank payment clearing system) to promote Apple Pay along with the already existing NFC and QR code based systems already used in retail.
I'd also expect some places like Hong Kong, Singapore and major Western European countries with high adoption of NFC and OR to add Apple Pay.
For the USA, Apple Pay could actually be a chance to leapfrog some of the evolutionary improvements in payment such as PIN & Chip, NFC etc the US has been lagging on because there is such a large iPhone user base, but question is, will the retailers get on board?
It seems strange to me that a big retailer struggling to regain profitability such as Best Buy would be quick to embrace something that could generate sales, but then, if they were an innovative retailer maybe they would be more profitable instead of closing stores. Ditto for Walmart which seems to be on a downward trend.
Generally Europeans use Master Card, Bank Cards or NFC/prepaid cards. AMEX is not common or popular due to the fact few European companies or individuals have accounts.
You will also find acceptance of AMEX spotty at best in Asia outside of large hotels catering to Americans.
AMEX is basically an American thing, and an American Business thing at that.
Or, maybe: What crud is in your wallet?
Relevant question. After ?Pay does away with wallets, the next iteration will be the ?Condom, so Secret Service agents scoping out Cartagena will never get caught short!
Agree about the U.S. The UK has had chip & pin since 2004 and the French had their own system in 1992.
In Europe MasterCard have announced that all new POS terminals must incorporate NFC by 1st January 2016 and existing ones must be replaced by 1st January 2020.
It seems strange to me that a big retailer struggling to regain profitability such as Best Buy would be quick to embrace something that could generate sales, but then, if they were an innovative retailer maybe they would be more profitable instead of closing stores. Ditto for Walmart which seems to be on a downward trend.
How would a system like Apple Pay (or any other NFC based solution) generate sales? Adding support for Apple Pay isn't going to make consumers buy products that they normally wouldn't be buying already had Apple Pay never existed. Aside from a small minority of vindictive Apple users, there won't be a drop in sales by not supporting Apple Pay either. People will just pay with one of the many other options available. I fully agree that these retailers should add the capabilities to accept Apple Pay as it sounds good and a retailer should always make it as easy as possible for consumers to spend money, but lets not pretend that supporting or not supporting Apple Pay is going to have a big impact on revenue in either direction.
Here is the problem with most of the comments here. The merchants Target and Home Depot ARE RESPONSIBLE! They are because it was not credit cards that were hacked it was in both cases POS system malware (point of sale system malware). In other words the stores own point of sale system was hacked and anyone sliding a debit card got there number recorded and there expiration date and pin number in some cases and then they were given to the malware and in turn the hackers. This makes the retailers responsible
Even worse, if you did the research, Target's breach was to the the fact they gave an HVAC contractor FULL ACCESS to their network to regulate temperatures at their stores remotely. Yes, Target sacrificed your credit card to save a few bucks on heating and AC.
I will shop more at retailers that support Apple Pay because it means they actually care about getting and keeping your business.
Yes, Target sacrificed your credit card to save a few bucks on heating and AC.
Yeah, it's been horrible too. I've received nothing but cash back from that credit card company ever since. This is between Target and the banks, as far as I'm concerned. I care nothing at all.
How would a system like Apple Pay (or any other NFC based solution) generate sales? Adding support for Apple Pay isn't going to make consumers buy products that they normally wouldn't be buying already had Apple Pay never existed. Aside from a small minority of vindictive Apple users, there won't be a drop in sales by not supporting Apple Pay either. People will just pay with one of the many other options available. I fully agree that these retailers should add the capabilities to accept Apple Pay as it sounds good and a retailer should always make it as easy as possible for consumers to spend money, but lets not pretend that supporting or not supporting Apple Pay is going to have a big impact on revenue in either direction.
Especially since the physical credit card -- soon to be secured with chip and pin -- will always work regardless of how much juice your phone's battery has left.
I suppose I can understand this. The merchant's themselves, unlike the card issuers and consumers,
don't particularly benefit from the increased security, so have little incentive to purchase compatible equipment,
if they haven't already.
What I think they are overlooking is the same rationale that made cards popular in the first place.
Ease of use and ready acceptance remove impediments to more casual and impulsive spending...
What merchant doesn't like that? OK, they all do, but if you already have cards to whip out anyway?
Actually the merchant DOES benefit, big time!!! Wal-mart, Best Buy and Target having been working on CurrentC. Why is that? Why toss NFC? Because up to this point, the Transaction fee's have been costly. it's around 2.8% or more. using Google Wallet is the SAME as using a normal credit card. You see this out in the open at gas stations with their Cash Price and Credit Price. With thousands of terminals and millions/billions of transactions, that's a lot of money these company's have to pay out which is why they've been working on their own system!!!
Apple, because of the hardware/software ssecurityof ApplePay. You're encrypted Credit card info is stored in the CPU like the TouchID info, Something NO Android phone has, or even be possible for most of them as they can't custom design their own CPU's like Apple can. Apple worked out a lower transaction fee of 1.5% and that includes Apple's tiny cut of .0015% I think it was. That's more then a 1% savings of using ApplePay over a Credit Card or Google Wallet!!! There's nothing better for any business other then CASH!!! So YES, there is a incentive!!! If I owed a business, I'd Advertise ApplePay!!! I'd want people to use it over anything and everything else other then CASH!!!
Using a iPhone ^ or 6+ to pay by ApplePay is also QUICK! Just hold your phone over the terminal and use the TouchID and You've paid. It's quick. At least as fast, if not faster then a Credit Card. Faster then using NFC/Google Wallet on a Android phone. and you're not using your Credit Card which if you haven't seen the news with all these Company's getting hacked and a free for all with people's Credit Card numbers!!!!
Just 3 weeks ago I had to once again replace my Wells Fargo Visa Debit card for the 3rd time for the 3rd year now!!! I had just gotten up from bed and Wells Fargo Fraud department called me and asked if I ordered some Pills a couple times that Saturday morning. Of course I said NO, and so the transactions I guess never went threw, but they canceled my card, I had to go to Wells Fargo and get another temp card and wait for my Real one to come in the mail and then go to Amazon, Netflix, the garbage company, my Cell phone company, and on and on and change my Credit Card Data!!! Now that really sucks. The more I can use ApplePay and the less I have to put my Credit Card info out there, the Better!!! There's is a true benefit for everyone.
Or maybe bc people don't care that much...? Is offering Apple Pay going to bring in additional revenue? Does sliding your card deter you from making purchases?
Given the well publicized repeated security breaches, Target, ACME Grocers, Home Depot etc., people are going to have incentive to look for more secure payments methods. Getting your credit card number changed when "unnamed vendors" report a security breach to your card issuer is a pain, so is carrying a lot of cash.
Using a iPhone ^ or 6+ to pay by ApplePay is also QUICK! Just hold your phone over the terminal and use the TouchID and You've paid. It's quick. At least as fast, if not faster then a Credit Card. Faster then using NFC/Google Wallet on a Android phone. and you're not using your Credit Card which if you haven't seen the news with all these Company's getting hacked and a free for all with people's Credit Card numbers!!!!
With Google Wallet through NFC, I see the total on the terminal, I touch my phone to it, approve amount, grab receipt, and go. Google Wallet generates a temporary credit card number that is used in the transaction. It's just as fast.
Quote:
Just 3 weeks ago I had to once again replace my Wells Fargo Visa Debit card for the 3rd time for the 3rd year now!!! I had just gotten up from bed and Wells Fargo Fraud department called me and asked if I ordered some Pills a couple times that Saturday morning. Of course I said NO, and so the transactions I guess never went threw, but they canceled my card, I had to go to Wells Fargo and get another temp card and wait for my Real one to come in the mail and then go to Amazon, Netflix, the garbage company, my Cell phone company, and on and on and change my Credit Card Data!!! Now that really sucks. The more I can use ApplePay and the less I have to put my Credit Card info out there, the Better!!! There's is a true benefit for everyone.
I don't understand why people prefer debit cards to credit cards, unless you are poor with finances. If that's the case, then you should probably stay out of this conversation. Maybe spend your time learning to use apostrophes correctly.
You should never have paired a debit card to anything online because it does directly tie into your bank account. A credit card, either the one with the best points or one with a low credit my preferred options online and when I travel abroad because it limits the level of inconvenience if compromised.
I don't understand why people prefer debit cards to credit cards, unless you are poor with finances. If that's the case, then you should probably stay out of this conversation. Maybe spend your time learning to use apostrophes correctly.
That's not really a fair statement.
Many people have debit cards because they don't want to have those extra lines of credit - it does make sense, especially for people who are conservative with their money.
This kind of logic may be different in the U.S. though where credit cards are so prevalent and have such primacy. In other countries, a wide variety of accounts are used and in my country (Australia), savings cards are used primarily for things like groceries and general shopping.
His initial part of the question is fair but the assumption about being poor with finances isn't. I do agree with you that some people are just conservative with their money but in most cases I've heard they are being foolish by not wanting to build excellent credit in the US.
I've told people to build their credit young to be able to get more choices on loans and better loans if and when they need it. Those that do see the reason to be proactive in this end up getting screwed years (even decades) later. I've built up the lowest risk credit bracket and therefore get the best offers available which I then used to my benefit to have the credit issuers pay me for using their cards. They are my bitch!
Since there is a grace period on all purchases before interest is applied I simply pay off the balances each week, which comes right from my bank account. I even put labels on each card so I know which types of locations offer the best rewards. One offers 5% back on groceries, another is 2.14% back on restaurants, Amazon is 3% back on their purchases. etc.
His initial part of the question is fair but the assumption about being poor with finances isn't. I do agree with you that some people are just conservative with their money but in most cases I've heard they are being foolish by not wanting to build excellent credit in the US.
I've told people to build their credit young to be able to get more choices on loans and better loans if and when they need it. Those that do see the reason to be proactive in this end up getting screwed years (even decades) later. I've built up the lowest risk credit bracket and therefore get the best offers available which I then used to my benefit to have the credit issuers pay me for using their cards. They are my bitch!
Since there is a grace period on all purchases before interest is applied I simply pay off the balances each week, which comes right from my bank account. I even put labels on each card so I know which types of locations offer the best rewards. One offers 5% back on groceries, another is 2.14% back on restaurants, Amazon is 3% back on their purchases. etc.
Right - but people might use their debit card most of the time, and only use the credit card for certain purchases. My experience here is that people tend to use their credit card sparingly; so, they are still building up good credit over a period of time, but they aren't always reliant on credit either.
Again this could in part just be different buying habits in different countries, but I think that we should be careful about making assumptions in this area as well.
That's not really a fair statement.
Many people have debit cards because they don't want to have those extra lines of credit - it does make sense, especially for people who are conservative with their money.
This kind of logic may be different in the U.S. though where credit cards are so prevalent and have such primacy. In other countries, a wide variety of accounts are used and in my country (Australia), savings cards are used primarily for things like groceries and general shopping.
If someone is financially conservative, I would think a credit card makes even more sense. Get a Discover card, and use it for every purchase that you can, and you get a nice check back from Discover for 2%-5% of your total purchases.
Also, if someone is financially conservative, then I would think that it makes more sense to limit the fraud risk and benefit from the protections offered by a credit card.
The reason I say that debit cards might make more sense if one is not as financially aware or responsible, is that a lack of self control or awareness could lead to overspending with a credit card. If you're on top of your financial game though, a good credit card will help you hold onto more of your money.
Credit rating benefits are another ball of wax, but just on the purchasing side, credit cards can be a very good tool to use.
Google Wallet is just as fast/quick and convenient as Apple Pay. They both take the same amount of time to use. Google Wallet also does not use my CC #. It uses a virtual #.
For **** sake stop trying to claim Google Wallet is the same as ?Pay. No one is believing your half-truth answers.
Google Wallet is just as fast/quick and convenient as Apple Pay. They both take the same amount of time to use. Google Wallet also does not use my CC #. It uses a virtual #.
While similar there are a few differences, including a critical one. Apple doesn't know what you are purchasing whereas Google does. ? Pay is only providing authentication.