The U.S. is out of step with the rest of the world on mobile payments

[brooklynite]

Axios

Despite well-documented pushes by Apple, Samsung and others into the mobile payments space, more Americans still write checks than use mobile payments.

The big picture: The U.S. is growing increasingly out of step with the rest of the world. By 2022, mobile payments from companies like Alipay, WeChat Pay and others are projected to account for nearly 50% of global e-commerce sales.

...snip...

Why it's happening: Debit and credit cards continue to dominate Americans' wallets. John Dick, CEO of CivicScience, says it really comes down to trust.

"Americans have long-standing faith in the banking system and much less so in Big Tech. When we've surveyed people on this topic before, U.S. consumers trust their banks more than digital solutions by over 6-to-1. And that gap has widened since 2017."

"While carrying paper money around is an inconvenience, people feel safer with a bank-provided card than Silicon Valley-provided app."

Interesting that people use debit over credit cards by a substantial amount.

[Aristus]

1. We're out of step with the rest of the world on pretty much everything.

[exboyfil]

2. Why debit cards

I never use a debit card. You have more protection with a credit card.

As far as an app. No way.

[GemDigger]

3. A lot of people only have debit cards.

I for one. I figure if I don't have enough money for it, I shouldn't get it.

[zipplewrath]

4. Credit

You have to have good enough credit to get a credit card. Debit cards can be easier to obtain. Some companies even issue preloaded cards for paying transient labor.

I've got good credit so I don't use debit cards. I just pay the bill every month with one "check" (well, online bill pay).

[customerserviceguy]

5. So true

I doubt that you would have the fraud protection with an app that you have with a credit card.

It's not a big deal to carry a wallet with some cash and a few credit cards for me. Chip technology has made use of them faster and safer. Besides, a number of my fellow shoppers are already doing something with their phone when they go through the checkout line, they probably don't have time to bring up an app.

[brooklynite]

7. If only there was a way to research your assumption...

Payment Security
Apple Pay is more secure than using a traditional credit or debit card since your card number and identity are not shared with the merchant or transmitted with payment, and your actual card numbers aren't stored on your device or on Apple servers.

Best of all, you still receive all the protection your Centier debit card currently offers including Visa Zero Liability fraud protection and debit card on | off available with our Mobile Banking App. Always shop with complete confidence whether you're using your Centier debit cards in-store, online or on a mobile device.

https://www.centier.com/apple-pay/

[customerserviceguy]

8. Well, I'd never use Apple in any case

but there are Federal laws governing the way credit card companies have to deal with a fraud called to their attention by a credit card holder, and with apps, all you have is "We're certainly going to try..."

Yes, I sometimes have to deal with overseas call centers with my credit card, too, but, like I said, there are laws that must be followed with that payment method. All we have for apps is what they tell us when they need to get the numbers of their users up.

Besides, I'm way too accustomed to the way I've been doing things for so many years. It "ain't broke", so why fix it?

[brooklynite]

9. You're welcome to do what you want, old school or otherwise...

...but you're absolutely wrong about credit card fraud. The card data on Apple or Google Pay is heavily encrypted and you receive the same legal protections as if you swiped or inserted a physical card. Add to which, lost or stolen card can be easily used in many places, while a smartcard equipped card requires an immediate passcode, thumbprint or facial scan.

[customerserviceguy]

10. That's good to know

hopefully it will always be that way for people who need the newestfangled way to pay for something. I like the airline miles I get from my credit card.

[brooklynite]

11. I don't think you understand the process...

I have a Delta Amex card, and I can use it on my phone with Apple Pay. My bill paying and mileage collection remains exactly the same. The card details are encrypted and stored on the phone for use.

[customerserviceguy]

12. You're right, I don't

At some point, if I can perceive a benefit from a new technology, I may well adopt it, but if I don't see one, I don't bother with it.

Hell, I don't even text. I'm perfectly happy with using my smartphone to speak with people.

[hunter]

13. Made the mistake once of using credit cards for medical care...

... it seemed a good idea at the time, but the medical shit kept raining down and the bills kept getting bigger. My wife ran an aptly named COBRA plan to the bitter end. Fortunately she was accepted to our state's "high risk" insurance pool at the last possible minute, when any interruption in her medical care might have had terrible consequences.

Meanwhile our credit card interest went up to 30%, plus absurd fines, and we quickly went from good credit to no credit.

Enough time has passed that these credit card company parasites want my business again. Fuck off. I throw all their offers in the shredder.

Maybe this nation will be civilized someday and we'll have universal health care and a credit industry that's not vile.

[Tommy_Carcetti]

6. No way in hell do I trust using my phone to pay.

Not that my credit card info can't be hacked via more traditional means, but it just seems to create one less barrier for people to try and do it that way.

[gratuitous]

14. Every time I hear about another computer hack of sensitive personal information

I reflect on how archaic it is for me to mail out a monthly check to each of my creditors. But I've never had to worry that my accounts have been laid open to some wily hacker. But then I'm old and demographically undesirable anyway.

[Ron Obvious]

15. Same with chip+PIN

I can't even designate that my credit/debit card ONLY work with chip+PIN in all cases, which is fairly standard in most of the world. Obviously, signature and automatically-approved transactions aren't remotely secure enough to even justify the expense of implementing the chip system in the first place, which we also dragged on for several years.

As for mobile payments, no thanks. Google, Amazon, and Apple have their grubby mitts on enough of my day-to-day life already. Last thing I want is for them to be my bank as well. Actually, I don't either want or need a smartphone in the first place.