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Playing devils advocate here - why would I really need that? In the EU you have tap and go for small amounts "buying a coffee, bus ticket" and chip and pin for

Playing devils advocate here - why would I really need that? In the EU you have tap and go for small amounts "buying a coffee, bus ticket" and chip and pin for larger items s using your debit or credit card. Why not write people a cheque or just use cash - the problems with using internet banking and phones (you have heard of the ss7 problems) If the Head of the Bank of England doesn't use online banking ill do the same as her.

regularfry 8y ago
Because cheques and cash are both less convenient. Convenience wins in the end.
mcv 8y ago
Checks and cash don't work very well on the internet. Besides, checks are ancient tech; cumbersome, inconvenient, with no discernible upside, so nobody uses them anymore as far as I know. I don't know MobilePay, but in Netherland we have Tikkie (also made by a bank), which makes it really easy to send a payment request in a text/whatsapp message. Then you pay the request through iDeal, which is the standard Dutch internet payment system supported by all banks. Tikkie is used to split bills, pay babysitters, collect money for events or to buy a present for someone together. Banks absolutely need to be tech companies. If US banks aren't, I suppose that explains why banking in the US is still decades behind in so many aspects. (I've heard some workers in the US still get a check they need to cash to get their salary, bouncing checks is still a thing, and of course there's credit cards, which are woefully insecure, but fill the holes in primitive payment systems.)
- C1sc0cat 8y ago
  This wasn't about CNP / Internet usage - its about replacing cash in physical transactions.
hvidgaard 8y ago
MobilePay is not really about paying in a store. You can do that too, but the real force is that anyone with a cellphone can send and receive money on the spot to other MobilePay users as long as you know their number. Local football team cannot justify the cost of having a card terminal, but can have a MobilePay phone and get donations and payment for coffee and cake at an event. You don't need cash on hand for paying for something you found through facebook marketplace. You can use it for keeping your childrens class funds for activities, or a gift account on your workplace. It's seriously disruptive for the more and more cashless society.

regularfry 8y ago

Because cheques and cash are both less convenient. Convenience wins in the end.

mcv 8y ago

Checks and cash don't work very well on the internet. Besides, checks are ancient tech; cumbersome, inconvenient, with no discernible upside, so nobody uses them anymore as far as I know. I don't know MobilePay, but in Netherland we have Tikkie (also made by a bank), which makes it really easy to send a payment request in a text/whatsapp message. Then you pay the request through iDeal, which is the standard Dutch internet payment system supported by all banks. Tikkie is used to split bills, pay babysitters, collect money for events or to buy a present for someone together. Banks absolutely need to be tech companies. If US banks aren't, I suppose that explains why banking in the US is still decades behind in so many aspects. (I've heard some workers in the US still get a check they need to cash to get their salary, bouncing checks is still a thing, and of course there's credit cards, which are woefully insecure, but fill the holes in primitive payment systems.)

C1sc0cat 8y ago
This wasn't about CNP / Internet usage - its about replacing cash in physical transactions.

hvidgaard 8y ago

MobilePay is not really about paying in a store. You can do that too, but the real force is that anyone with a cellphone can send and receive money on the spot to other MobilePay users as long as you know their number. Local football team cannot justify the cost of having a card terminal, but can have a MobilePay phone and get donations and payment for coffee and cake at an event. You don't need cash on hand for paying for something you found through facebook marketplace. You can use it for keeping your childrens class funds for activities, or a gift account on your workplace. It's seriously disruptive for the more and more cashless society.