Why have mobile payments not taken off in the US

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I worry about scammers using some unknown backdoor via the NFC transmitter. I really like the new credit cards with an embedded chip.
 
I travel to China fairly regularly starting with about 10 years ago. It was all cash, except for hotels. I didn't go for two years then went last year. Boom! Switched to wechat pay in the time I missed. Amazing, many places were kinda upset I was trying to use cash. Shows how fast habits can be changed though.
 
On my last trip over to Asia I handled all my payments, hotel check in, and transportation costs via mobile. It is almost like night and day from here.

There are some businesses that are hesitant to go mobile. Gas stations for one. They are afraid of losing their big business inside the stores.
 
Originally Posted by atikovi
I get 2% cash back whenever I use my credit card. How much do these mobile things pay you?


I get 4% on gas, 3% on restaurants, 2% everything else. Credit card which gets paid in full each month.

End of year get a nice check.
 
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I get 1-2-3% depending on how the transaction is done and which card. The cash back is not the whole focus though. Speed and security are important.

Apple Pay uses number tokenization along with TouchID or FaceID.
 
Started using Samsung Pay recently, I will see how it goes. My card is already paying me back, but the pay app seems to also have some deals. I haven't explored them yet though.

I like that it generates a secondary card number and the last 4 digits of that number are visible to the merchant and on the receipt. So there is an added layer of security, provided Samsung servers don't get compromized.
 
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Originally Posted by PimTac
On my last trip over to Asia I handled all my payments, hotel check in, and transportation costs via mobile. It is almost like night and day from here.

There are some businesses that are hesitant to go mobile. Gas stations for one. They are afraid of losing their big business inside the stores.


My son does Exxon and Mobil SpeedPass off his iPhone and I still use their credit car. They seem very good at fingerprinting patterns so once in a while it gets locked until I call and give them a code we have established. They did away with the RFID that was around for years.
 
Originally Posted by PimTac
There are some businesses that are hesitant to go mobile. Gas stations for one. They are afraid of losing their big business inside the stores.
If people pay by card, they're not going inside the store anyway.
 
Originally Posted by c502cid
I travel to China fairly regularly starting with about 10 years ago. It was all cash, except for hotels. I didn't go for two years then went last year. Boom! Switched to wechat pay in the time I missed. Amazing, many places were kinda upset I was trying to use cash. Shows how fast habits can be changed though.


I've actually run into places that did not take cash or credit card at all--wechat pay only. I ended up having to give some teenager working in the restaurant 300 rmb in exchange for them sending money via wechat... China really is going away from cash.

Meanwhile, when I try mobile payment in the US, it seems to actually work about 1/2 the time. Not exactly convenient! I'm completely on board with the mobile pay if I have a CC linked to it. The same protections are there as with a physical CC.
 
So what's the advantage of using mobile or debit where the money comes off immediately vs credit cards that give you 21 days interest free payment?
From where I stand the only reasons are maxed-out credit cards or poor money management. I can't see any other reason, but perhaps there is another one that escapes me.
smile.gif
 
Cash is king. Those debit cards make it too easy to spend carelessly. With cash you can physically see the money. And credit cards are about the worst thing ever invented. They are too easy to get and the interest is outrageous. Have fun with that 1.5% cash back when you gotta pay 30% interest on your purchase.
 
It's called fiscal discipline. If you can't control your spending then it won't matter whether it's via a card or cash. I know plenty of people that cannot hang onto cash money.
 
Originally Posted by BMWTurboDzl
I worry about scammers using some unknown backdoor via the NFC transmitter. I really like the new credit cards with an embedded chip.


"new" you guys are always last to do the techy stuff.

Canada has had these ten years and Europe about fifteen. We don't even need to do anything under $100 anymore, just tap the card and done. No pin, no signing.

Also if you pay cash you are overpaying about 2% on everything.
 
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Originally Posted by JOD
Originally Posted by c502cid
I travel to China fairly regularly starting with about 10 years ago. It was all cash, except for hotels. I didn't go for two years then went last year. Boom! Switched to wechat pay in the time I missed. Amazing, many places were kinda upset I was trying to use cash. Shows how fast habits can be changed though.


I've actually run into places that did not take cash or credit card at all--wechat pay only. I ended up having to give some teenager working in the restaurant 300 rmb in exchange for them sending money via wechat... China really is going away from cash.

Meanwhile, when I try mobile payment in the US, it seems to actually work about 1/2 the time. Not exactly convenient! I'm completely on board with the mobile pay if I have a CC linked to it. The same protections are there as with a physical CC.



My first time in China on a business trip at a nice hotel near Forbidden City about 8 years ago and they only took cash.

Although, it's easy to see why a government such as the Chinese would want every electronic and push for a cashless society and can easily push out a single solution. Whereas, in the USA, so many different companies are vying to be the service provider that they can't agree and it fractures the market.
 
Originally Posted by Jetsfan421
Cash is king. Those debit cards make it too easy to spend carelessly. With cash you can physically see the money. And credit cards are about the worst thing ever invented. They are too easy to get and the interest is outrageous. Have fun with that 1.5% cash back when you gotta pay 30% interest on your purchase.


Cash sucks. Lose it on accident? SOL. Get robbed? SOL. I'll enjoy my 1-2% cash back and no interest because it's paid in full every month. The Apple Card also makes it incredibly easy what you're spending money on.
 
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