SHUT UP AND TAKE MY MONEY
Coin
481–490 of 720 posts
Re: Coin
#482Earlier quoted context omitted.
These are "electronic" credit cards, they've been around for years and they are flat so not to be usable for offline processing (that's when they take an imprint, you sign it, they take the imprint to the bank and it settles in a week).
Except that you can still use just the CC#, Name, and Expiry to authorize a purchase (both online and offline). I've done this at craft shows and such with vendors that didn't have mobile CC reader/app.
Hence why Square was invented...
Re: Coin
#483Earlier quoted context omitted.
But how many of the cards in your wallet could be replaced by Coin? For me it's maybe three. If it can't replace nearly all of them it seems pretty pointless to me - I'm still going to be carrying my wallet, it'll just have two fewer cards in it. Yay? In any case, it does seem odd to build a business around something that is virtually guaranteed to be extinct in a few years time.
What about bars? A lot of bars I go to hold onto your card until you tab out. I'd hate to keep getting notifications about losing my card every time I'm out on the town. When you go back up to the bar, they ask what your name is to tab out. I didn't see anything on the Coin to do that. I also wouldn't want the bartender to press the button and change to a business account or something similar. I'm not being a hater,…
Wow! Is that common in the US? I've never seen that here in EU. And I go to bars A LOT!
Re: Coin
#484Earlier quoted context omitted.
> No one imprints anymore. that's not true at all; have you been outside of any major city in america?
As an avid road fan, I've been in 47 out of 50 states (no Hawaii, Alaska or Vermont) and roadtriped around 50.000 miles, in the course of 7 years. I've stayed in hundrends of small cities, from Ogalala, NE to Ozona, TX and Oatman, AZ, and used my credit cards for all kinds of purchases, from Kroger and CVS, to outlet stores, gas, local shops, small eateries, fast food places, restaurants etc. Never had a vendor inpri…
I had it happen at a Denny's in Oregon, and not because the electricity or phone lines were down, but because that's just how they processed cards.
Re: Coin
#485SUPER clever idea -- kudos for that. In theory, this is awesome. As a consumer, I love it. As a merchant, however (which I am), there is no chance I would accept this. None. Unless the issuers (that is, Visa, MC, Amex) drastically change their policies, which I don't see happening anytime soon. Why? Because the issuers are very clear about a few things: When push comes to shove and it REALLY gets down to it, unless t…
Can't the merchant just treat it like an online payment. Take the Card number, expiry date and security code?
Re: Coin
#486This is very neat and a super cool idea. However, there's no chip? I try to avoid non-chip cards as much as I can for security reasons. One more thing that crossed my mind is, what happens if you give this to the waiter, the waiter goes away to handle your payment and it happens to be outside of reach of your bluetooth ping; then you will most likely become worried that the waiter ran away with your card, or you will…
Well, don't give the card to the waiter? I was honestly spooked when my colleagues handed over their credit card to a waiter when I was in the US a while ago, leaving it out of their sight and hands for a while. We're warned in TV adverts here to never hand over your card - it could get skimmed by the attendant behind the counter. Less of a risk now that the magnetic strip is hardly used anymore, but still. Give some…
It's "the way that they do it" in most places at least where I have been, that is giving the waiter the card and wait for them to come back.
In Sweden restaurants have started to come out with portable devices and you even have to put in the amount you want to pay (because they want tip which is already included in the price..). I find this really good but at the same time less convenient because I don't want to fiddle with their device.
I would feel much better if I had my cards stored "securely" in my phone and could do "Tap to Pay" over NFC instead and have the waiter bring over an NFC device to tap against my phone.
Re: Coin
#487Earlier quoted context omitted.
> No one imprints anymore. that's not true at all; have you been outside of any major city in america?
As an avid road fan, I've been in 47 out of 50 states (no Hawaii, Alaska or Vermont) and roadtriped around 50.000 miles, in the course of 7 years. I've stayed in hundrends of small cities, from Ogalala, NE to Ozona, TX and Oatman, AZ, and used my credit cards for all kinds of purchases, from Kroger and CVS, to outlet stores, gas, local shops, small eateries, fast food places, restaurants etc. Never had a vendor inpri…
Imprinting happens a lot at hotel check-ins, in my experience. They will often imprint your card onto their copy of the check-in document.
Re: Coin
#488I remember the US refusing to rely on foreign technology, hence refusing to issue plastic money with chips. But this changed after the CIA got their hands on the technology through in-q-tel acquisition of the french company gemplus then world n°1 company in the business. Then cards with chips were coming the US and it was expected for the rest of the world to get backdoors with their US issued chip cards, years later…
>> (not that it is that much harder with chips, see yescards).
Never heard of that before, interesting.
I used programmable test cards when doing EMV and did wonder what would happen if I made such a card but (as the wikipedia page says) they're of very limited utility as they don't have the right keys to do anything but low-value offline transactions.
Cloning chip cards is still pretty hard, IMHO, though that is interesting.
Re: Coin
#489Earlier quoted context omitted.
> No one imprints anymore. that's not true at all; have you been outside of any major city in america?
As an avid road fan, I've been in 47 out of 50 states (no Hawaii, Alaska or Vermont) and roadtriped around 50.000 miles, in the course of 7 years. I've stayed in hundrends of small cities, from Ogalala, NE to Ozona, TX and Oatman, AZ, and used my credit cards for all kinds of purchases, from Kroger and CVS, to outlet stores, gas, local shops, small eateries, fast food places, restaurants etc. Never had a vendor inpri…
It still happens. I had it happen at a gas station in the middle of nowhere Nebraska or South Dakota (where he probably didn't have internet) as well as at a gas station in a bigger town where their internet was out.
Re: Coin
#490Earlier quoted context omitted.
As a Brazilian, I think the US banks are very strange. "Swipe" cards have been phased out years ago - you'd have to try hard to find a bank which will still issue one. Specifically because you can no longer find ATMs which rely solely on the magstripe. Some banks have biometric fingerprint readers (where you put in your hand and it reads multiple fingerprints at the same time) in addition to the PIN code of the debit…
Very interesting, thanks for sharing. You hit on something though; in the U.S. there are tens of thousands of ATM machines all over. They all accept PIN numbers, and I "believe" magnetic-strip as well (not sure if they're doing fancy stuff too with built-in chips or not). It's the standard that everyone uses; debit card and credit cards alike. To change that to support different tech, you'd have to upgrade all of the…
The phase-in in USA has "started" for years already - it's supposed to be finished at October 2015; and those who haven't upgraded their gear by that time will be liable for all fraudulent transactions they accept.