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When credit cards go all digital what will we call them?

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Contributor

When credit cards go all digital what will we call them?

It occurred to me today that within a few years our credit cards will start to be ONLY on our phones. So when there’s no actual card anymore what will we call it?
Message 1 of 25
24 REPLIES 24
Established Contributor

Re: When credit cards go all digital what will we call them?

Just “credits”? Credit apps? 

LOL who knows

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Message 2 of 25
Mega Contributor

Re: When credit cards go all digital what will we call them?


@vV35Hszm wrote:
It occurred to me today that within a few years our credit cards will start to be ONLY on our phones. So when there’s no actual card anymore what will we call it?

I guess "vcards" is/was used for virtual business cards so credit vcard or something, but my guess is that people will still refer to them as credit cards.    Then the question is what do you call those strange bits of plastic (Ok, or metal) that the die-hards would still use.

 

Not a new issue!  Those as old as I am (4.3B years) will remember when those strange (and therefore wrong) digital clocks first came in.   Then a new term had to be created for "proper" clocks, hence analog clocks.

Message 3 of 25
Senior Contributor

Re: When credit cards go all digital what will we call them?

Phones still occasionally have problems, and a few merchants will inevitably be slow to update their equipment. I may just carry a few plastic cards as backups, but it will be a long, long time before I rely exclusively on my phone.

 

I expect some others feel the same way, and that issuers will at least make physical cards available upon request.

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Message 4 of 25
Valued Contributor

Re: When credit cards go all digital what will we call them?

I’m looking forward to the day when all payments, whether debit or credit, are purely digital, with no cash, checks, or credit cards.

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Message 5 of 25
Mega Contributor

Re: When credit cards go all digital what will we call them?


@UpperNwGuy wrote:

I’m looking forward to the day when all payments, whether debit or credit, are purely digital, with no cash, checks, or credit cards.


Whereas I long for the return to the days of barter (REAL trading).   Go on to Amazon to buy something and send them two goose eggs in return....

Message 6 of 25
Frequent Contributor

Re: When credit cards go all digital what will we call them?


@wasCB14 wrote:

Phones still occasionally have problems, and a few merchants will inevitably be slow to update their equipment. I may just carry a few plastic cards as backups, but it will be a long, long time before I rely exclusively on my phone.

 

I expect some others feel the same way, and that issuers will at least make physical cards available upon request.


 

I tried not carrying cash for a few years. Epic fail. It's nigh impossible - because you only ever seem to need cash precisely when you don't have it on you. It's beyond annoying buying things just to obtain cash back. So, now I'm back to carrying cash, although not in Floyd Mayweather amounts. Cash is great for tipping at the car wash, or tipping the oil shop to put some nitrogen in the tires. In fact, it feels really salty when not having any cash to tip on you. The service industry works on tips. You always need cash if you want to be treated well, and remembered.

 

Furthermore, I feel like tipping on a receipt for small amounts (with cents) is chintzy. Not that tipping on a receipt is wrong, but these new machines will ask you to tip cents off of a small dollar tab. If you want to tip, just give the server some cash in hand, or leave it at the table. I personally think it's more notable to tip cash; because, how does anyone else around know that you tipped at all, except you and the receipt? So, I'll tip on the receipt if the tab is large enough to warrant it. But, for small tabs, I'll usually tip cash.

 

Similarly, I will likely keep a physical card until they stop issuing them, entirely. Plus, I don't trust smart-phone security, based on several reported leaks. Recall all of the naked photos floating around out there regarding celebrities? That leak came from a cell phone hack.

 

Then, we can certainly expect data breaches, with cell phone payments, as well. Then, system outages. What happens when the internet is down, or you run out of battery? Until they come out with a phone that always runs on solar... we cannot put all of our trust in an app. 

Message 7 of 25
Mega Contributor

Re: When credit cards go all digital what will we call them?


@trusty wrote:

 

Similarly, I will likely keep a physical card until they stop issuing them entirely. Plus, I don't trust smart-phone security, based on several reported leaks. Recall all of the naked photos floating around out there regarding celebrities? That leak came from a cell phone hack.


True, but it's not as if physical credit cards fare better, as it's the accounts that are hacked in the main.   Lots of fraud on people who have never used a digital wallet.

Message 8 of 25
Community Leader
Super Contributor

Re: When credit cards go all digital what will we call them?

There are some elderly folks out there who still have flip phones, and mail their bills in, and don't have online banking or anything, like my folks.

Im sure the companies have thought about this as well, and don't think it will be a "mandatory" thing. Me personally, I like having the actual card in hand, but Im kind of old school Smiley Wink

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Message 9 of 25
Mega Contributor

Re: When credit cards go all digital what will we call them?


@pizza1 wrote:
There are some elderly folks out there who still have flip phones

Early adopters then!   Some of my wife's relatives don't have mobile phones at all: what's wrong with a good home phone?  They don't want people to be able to contact them "all the time"....

Message 10 of 25