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How do you feel about NFC and mobile payments?

Frequent Contributor

How do you feel about NFC and mobile payments?

It seems a new wave of processors are coming (if not already here) our way.

 

How do you feel about putting your credit cards on these things for payments?  

Personally, I don't see how this is easier or faster than whipping out your card and sliding it.  I actually prefer cards to have built in chip/pin, but that hasn't happend so much in the US. 


Besides, how else am I suppose to show of my It card?

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Message 1 of 10
9 REPLIES
Valued Contributor

Re: How do you feel about NFC and mobile payments?

If they could develop a software algorithm whereby you waved your phone and the credit card with the best rewards for that particular purchase was automatically chosen, that would be a worthy value-add.

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Message 2 of 10
Frequent Contributor

Re: How do you feel about NFC and mobile payments?

I've been playing with Google Wallet but have found the entire experience to be extremely unreliable, if it works at all. Could just be my phone, but their system definitely has some issues to be worked out.

Message 3 of 10
Valued Contributor

Re: How do you feel about NFC and mobile payments?

I actually prefer integrated NFC inside the credit card. Not those tap thing you stick on a phone or mobile payment like Google Wallet.

 

But before all that, lets get EMV here in US first (even if it is chip and signature at the moment, since our ATM isn't equipped with chip and PIN yet). Let's get rid of magnetic strip.

Message 4 of 10
Super Contributor

Re: How do you feel about NFC and mobile payments?

Bribro, i remember hearing about something like that on this forum. You basically put all your account info into your new account, and you get a card, and it, somehow in the 10 seconds adter swiping, decides which card would give you the best rewards on that purchase.
Message 5 of 10
Valued Contributor

Re: How do you feel about NFC and mobile payments?


jsucool76 wrote:
Bribro, i remember hearing about something like that on this forum. You basically put all your account info into your new account, and you get a card, and it, somehow in the 10 seconds adter swiping, decides which card would give you the best rewards on that purchase.

You mean Wallby card. That card charges $50 AF, making it quite useless.

 

Message 6 of 10
Contributor

Re: How do you feel about NFC and mobile payments?

I don't care for it. It's so much easier to just swipe a card. Simplicity is what it's all about.

Message 7 of 10
Super Contributor

Re: How do you feel about NFC and mobile payments?


trumpet-205 wrote:

jsucool76 wrote:
Bribro, i remember hearing about something like that on this forum. You basically put all your account info into your new account, and you get a card, and it, somehow in the 10 seconds adter swiping, decides which card would give you the best rewards on that purchase.

You mean Wallby card. That card charges $50 AF, making it quite useless.

 


I did not know it had an AF...thats BS haha. 

 

I didn't even know it had been released yet. 

Message 8 of 10
Contributor

Re: How do you feel about NFC and mobile payments?


bribro wrote:

If they could develop a software algorithm whereby you waved your phone and the credit card with the best rewards for that particular purchase was automatically chosen, that would be a worthy value-add.


That might have to be my next android project!

My ultimate credit wish,
a JP Morgan Palladium card
Message 9 of 10
Valued Contributor

Re: How do you feel about NFC and mobile payments?


squirrely2005 wrote:

I don't care for it. It's so much easier to just swipe a card. Simplicity is what it's all about.


If you ever spent some time outside the USA, especially Western Europe, you wouldn't say that.  Swipe transactions are the most awful, time-consuming headache immaginable.  Simplicity is a fast and universal solution.  USA needs EMV.   After that, NFC for small purchases would be a neat add-on.

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Message 10 of 10