Banks and cc companies aren’t pushing this because of money, it’s because of data. The fees are honestly just icing on top, and often, even a legacy that you ca

Banks and cc companies aren’t pushing this because of money, it’s because of data. The fees are honestly just icing on top, and often, even a legacy that you can completely avoid at some companies. The largest bank in our country let’s you link you can card (we have a national card that’s both a debit and a credit card in one without really being either), regardless of what bank you use, and they let you use it for free. You can instantly and feelers send money to anyone with the app, you can also use it like Apple/google pay completely feeless. Small business can get a free recipient thingie but larger business have to pay the bank for usage, so for them it works like a regular digital payment system. Anyway, the real currency is data. The cash register scanner tracks every individual item you buy, the time, the location and so on and because this app is universal, our largest bank knows a lot more about our habbits than google does. It’s the same for CC companies. They know what you buy at the pharmacy, they know how much alcohol you buy and so on. Sorry for the bad English, I’m not even sure what stuff like the scanner at cash registers is called in my own language so it’s hard to translate to English.