Apple Pay / Google Wallet: Not So Fast

[Suspicious-Teach8788]

That's a good point. Doesn't really help with your medical card, but it is two less things that you need to have on you at all times.

In other news, I think WB has almost convinced me to move to the UK.

Medical card I carry a photo of it and I have the info stored in LastPass.

A hospital is going to operate on me in a life or death situation anyway. I can sort out the insurance stuff later.

 

[Brian Stirling]

That happened recently due to a lawsuit from businesses against Visa/MC. However, many states still prevent it legally.

http://www.practicalecommerce.com/a...s-Can-Now-Charge-for-Credit-Card-Transactions

Here is more by state who restricts it.

http://www.ncsl.org/research/financ...edit-or-debit-card-surcharges-2013-legis.aspx

While there appears to be some law that limits retailers from charging transaction fees on debit cards and similar types of cards there does not appear to be much in the line of laws preventing them from charging fees on CC's. This makes sense to me as debit cards are cash by any other name whereas CC payments are akin to loans.

So, I'll say it again, it is likely that retailers will begin to charge a 2%-4% fee for CC purchases while offering the CurrenC without surcharge. They will also not apply a surcharge to cash purchases including debit cards etc.

If this happens and the banking industry loses out on transaction fees it's likely they will find a way to extract more money from CC holders. In the end you and me will not profit from this and you can take that to the bank!


Brian

 

[ControlD]

Medical card I carry a photo of it and I have the info stored in LastPass.

A hospital is going to operate on me in a life or death situation anyway. I can sort out the insurance stuff later.

Assuming they don't just wheel you out into the street I guess that should work!

 

[WelshBloke]

In other news, I think WB has almost convinced me to move to the UK.

It rains here and we like warm beer.

 

[poofyhairguy]

While there appears to be some law that limits retailers from charging transaction fees on debit cards and similar types of cards there does not appear to be much in the line of laws preventing them from charging fees on CC's. This makes sense to me as debit cards are cash by any other name whereas CC payments are akin to loans.

So, I'll say it again, it is likely that retailers will begin to charge a 2%-4% fee for CC purchases while offering the CurrenC without surcharge. They will also not apply a surcharge to cash purchases including debit cards etc.

If this happens and the banking industry loses out on transaction fees it's likely they will find a way to extract more money from CC holders. In the end you and me will not profit from this and you can take that to the bank!


Brian

There is a local liquor store that gives a discount for using a debit card or cash. I bet instead of charging more for a Cc purchase, EVERYTHING gets a price hike and you get a "discount" (aka current price) when you use an approved payment method.

 

[pm]

That's a good point. Doesn't really help with your medical card, but it is two less things that you need to have on you at all times.

In other news, I think WB has almost convinced me to move to the UK.

So the funny thing is - and WB probably doesn't know this because he's a citizen - is that non-UK citizens do need a photo ID and I had to go to the police station every 6 months to update their location in their database. So the goodness that is a lack of a national photo ID doesn't apply to non-citizens. But definitely no one ever asks for ID at a bar... people used to joke that if you were tall enough to see over the top of the bar to order a pint then that was good enough. And it certainly did rain. I was up in Durham and I loved it... but it certainly was gloomy.

 

[WelshBloke]

So the funny this is - and WB probably doesn't know this because he's a citizen - is that non-UK citizens do need a photo ID and I had to go to the police station every 6 months to update their location in their database. So the goodness that is a lack of a national photo ID doesn't apply to non-citizens.

You need some to get into the country, that's what a passport is.

But definitely no one ever asks for ID at a bar... people used to joke that if you were tall enough to see over the top of the bar to order a pint then that was good enough.

I think that may have changed now.
You certainly aren't going to need ID if you're obviously over 18, but I think that they are a bit more strict with the spotty 17 year olds than they used to be.

 

[Compddd]

I predict CurrenC will fail.

 

[Sooon]

Oops

 

[trmiv]

CurrentC, meet the wrath of the internet

http://www.theverge.com/2014/10/29/7089829/iphone-android-currentc-reviews

 

[Eug]

I predict CurrenC will fail.

I agree. It's a stupid system.

I just wish the credit card systems in place weren't so expensive though.