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It is all very fun to chat about but I am going to be boring and say that in 10 years the Corona-crisis will be just a blip in the distant pasts. In 10 years t
by chvid 7y ago
It is all very fun to chat about but I am going to be boring and say that in 10 years the Corona-crisis will be just a blip in the distant pasts.
In 10 years the world will be more concentrated around the big cities. People will travel more. Things will be more international, more global. The people will rely more on services, eat out more. IT will play an even bigger role.
Basically a continuation of the globalisation process that has been in full force for the past many years.
(Though I do think Germans finally will stop on using cash payments for everything.)
- maxerickson 7y agoOne of the grocery stores in town here has signs up stating that the prefer card transactions to cash. They haven't made the effort yet to turn off the signature collection step. So you get to handle the pen. I expect they either don't particularly know it is an option, or have some false beliefs about it.
- detaro 7y agoCan the store turn that off? I thought that was something the bank controls. Or maybe that was just for contactless?
- maxerickson 7y agoI'm pretty sure with EMV that the processors don't care about signatures anymore, at which point it's the store choosing. A little bit of reading I did suggests that the till software is often the stopper.
- Havoc 7y agoIt’s the US spec. EU side it’s chip and pin. Which arguable is much of a sameness since you’re touching the key pad
- detaro 7y agoHere (Germany) it was recently announced that banks would raise the limit up to which no validation is needed for (maybe just contactless?) payments. And indeed since then I haven't had to confirm a transaction, which is why I asked.
- maxerickson 7y agoIt's an option. For example, Walmart doesn't require a signature on any transactions.
- zaarn 7y agoSignatures very much still exist in the EU; if the card you put into the reader only supports SEPA Debit and no immediate transfers, the shop has to do a manual SEPA Debit in the evening using your signature as authorization. A few banks refuse to upgrade to anything newer.
- zaarn 7y agoSigned transactions depend on the bank; it means the card only supports SEPA Debit, so the supermarket has to manually debit your account later, that's what you sign for. Modern cards (anything that supports EC) can handle using only chip+pin or contactless.
- DanielLihaciu 7y ago>Germans finally will stop on using cash payments for everything You are right. We will see only buying electronically in the future.
- drdeadringer 7y agoI've been hearing this since 1997. I don't know why I should believe this until I see it.