61–70 of 141 posts
How would a similar scenario play out in the Card Case universe? I wasn't allowed to have my own credit card until college and I would never use my debit card for common house purchases.
Earlier quoted context omitted.
Because they don't have any money transmitter licenses and it will take them a few years to get them.
Hence the phrase "in the future". There's no way that Square doesn't see this obvious step. It's probably already in progress. Also I'm guessing that what Square currently does already requires a money transmitter license, since transmitting money is exactly what they do.
Earlier quoted context omitted.
Starbucks (for payments) and the airlines (for boarding passes) have done pretty well with barcode scanners. It requires hardware only on the merchant side than most merchants already have in one form or another.
Er. But unless you've given Starbucks direct access to your bank account, those are fundamentally card-based too.
And does it offer reward points?
If not I'll stick with plastic.
What prevents competitors from creating their own app that does this? If this takes off and Square charges X percent, I assume that Competitor Y will develop a similar app and charge X-z percent. I'm having a hard time seeing the barriers to entry for this particular approach.
Earlier quoted context omitted.
Hence the phrase "in the future". There's no way that Square doesn't see this obvious step. It's probably already in progress. Also I'm guessing that what Square currently does already requires a money transmitter license, since transmitting money is exactly what they do.
Square does not currently require a license, and they have not yet applied for one in California.
From a cursory look, I was under the impression that they would need a license in every state that they'd do business in.
What if my phone's battery is dead ? Does that mean I can't buy anything ? What happens in an emergency ? Credit cards are easy as they're quite low tech physically (a magnetic strip, a chip and some plastic).
Other things would be stuff like: not everyone has a phone, but would still like a credit card, etc. There are countries where phone penetration (and not even smart phone) is not very high, but the population still need to have credit cards.
Granted, I can see it being used as an alternative, but doubt it will be the "end of credit cards"