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MobilePay May Be The Death Of The Wallet. Yes, For Real This Time.

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Re: MobilePay May Be The Death Of The Wallet. Yes, For Real This Time.

#11

Post by tlb »

It's unlikely to be faster. I can pay with cash or credit card in much less time than my iPhone takes to get a GPS fix & 3G connection indoors.

Also, credit cards are very reliable. I've had mine fail (mag stripe wear, etc.) maybe 3 times in 20 years, but even then it's still usable the old-fashioned way. My iPhone fails (low battery, weak signal) at least weekly. Being occasionally unable to pay is a Really Bad Experience that users won't forgive.

Slower and less reliable. I predict it won't take off.

Re: MobilePay May Be The Death Of The Wallet. Yes, For Real This Time.

#12

Post by ElbertF »

makmanalp wrote: post #3

>>(but don’t worry, it isn’t stored on your device, it’s securely stored in the cloud) Wow, I thought the decentralized way was better, since it makes it very hard for malicious people to get to a significant amount of info, and keeps the data in your control. It's interesting how the notion of security is being flipped over completely.

This alone is reason enough for me not to use it. I'd much rather have a pre-paid system to replace cash (< $500.-). For larger purchases I'd still use my card.

Re: MobilePay May Be The Death Of The Wallet. Yes, For Real This Time.

#13

Post by mrtron »

tlb wrote: post #11

It's unlikely to be faster. I can pay with cash or credit card in much less time than my iPhone takes to get a GPS fix & 3G connection indoors. Also, credit cards are very reliable. I've had mine fail (mag stripe wear, etc.) maybe 3 times in 20 years, but even then it's still usable the old-fashioned way. My iPhone fails (low battery, weak signal) at least weekly. Being occasionally unable to pay is a Really Bad Expe…

Also problems with entering in the amount you are paying them instead of that being automated. What if you mispress and over/under pay by a cent, a dollar, 10$...?

The trick for any service like this is mass adoption. The service needs to be available in enough places so you don't need to carry your credit card. That seems unlikely.

Re: MobilePay May Be The Death Of The Wallet. Yes, For Real This Time.

#15

Post by chopsueyar »

tamersalama wrote: post #9
chopsueyar wrote: post #7

Earlier quoted context omitted.

You stole the quote I was gonna use! Besides storing all your important information remotely, how about the fact it won't work in areas of no connectivity or when your battery dies. My credit card and dollar bills do not suffer from the aforementioned dependencies.

I waited in line for 30 minutes today - and then discovered that I forgot my wallet. I had my phone though.

My phone died yesterday and I forget my charger cord, but I still had my wallet.
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