3 ms·

> It doesn't need electricity, a network of cables, satellites and routers. To be fair, credit cards also don't. At least didn't need to, up until very recentl

> It doesn't need electricity, a network of cables, satellites and routers. To be fair, credit cards also don't. At least didn't need to, up until very recently, when most issuers stopped embossing their credit cards. Imprinters exist. https://en.wikipedia.org/wiki/Credit_card_imprinter https://en.wikipedia.org/wiki/Credit_card_imprinter Sure, the risk here is that the charge would get declined later on, but you get the same risk if you accept personal checks.

pc86 3y ago
I don't really understand the point of this comment. "Credit cards don't need this network, except realistically they do, they just didn't used to." So in some scenario where electricity is unavailable, credit cards will be just as worthless in most cases as apps and gift cards.
- sgjohnson 3y ago
  If you have an embossed credit card and the store has an imprinter, that's still true today. I don't expect any store anywhere to have an imprinter, but it's definitely an option.
  - JohnFen 3y ago
    Imprinters are a convenience, not a requirement. Stores could still accept the cards without one.
- ExoticPearTree 3y ago
  You missed the point. Embossed CCs and an imprinter allows you to get your monet at a later date without a problem. Card present or online transactions only prevents you as a seller to make any money when the internet is not working.
  - sgjohnson 3y ago
    It's technically possible to do a card present transaction without the internet working. I haven't seen this happen in practice on ground, but it's actually very common on airplanes, especially on Ryanair. You can pay for everything on-board with a credit card, using a physical terminal, and I can assure you that they don't have satellite internet. They just post the transactions when the plane lands. But I am somewhat curious as to why nobody in my experience has implemented this on ground. Because if the customer pays with an actual credit card, the risk that the transaction won't go through when the internet comes back up is near-0, provided the card is valid. It is theoretically (and I assume practically too, given that every credit card agreement I've ever signed--and it's a lot of agreements, considering I was churning a lot for airline points--specifically outlined extra fees for "overcharging" your account) possible to overcharge the account this way (i.e. the transaction would still go through even if it'd blast past your credit limit, up to some limit though, probably)
- sitkack 3y ago
  You are feigning confusion, you do understand it. Please don't propagate this mind virus here.
  - pc86 3y ago
    "Please respond to the strongest plausible interpretation of what someone says, not a weaker one that's easier to criticize. Assume good faith." https://news.ycombinator.com/newsguidelines.html https://news.ycombinator.com/newsguidelines.html You have no idea what I do or do not understand, and my comment provides additional context which makes it pretty clear in what context I'm using the word "understand."

pc86 3y ago

I don't really understand the point of this comment. "Credit cards don't need this network, except realistically they do, they just didn't used to." So in some scenario where electricity is unavailable, credit cards will be just as worthless in most cases as apps and gift cards.

sgjohnson 3y ago
If you have an embossed credit card and the store has an imprinter, that's still true today. I don't expect any store anywhere to have an imprinter, but it's definitely an option.
- JohnFen 3y ago
  Imprinters are a convenience, not a requirement. Stores could still accept the cards without one.
ExoticPearTree 3y ago
You missed the point. Embossed CCs and an imprinter allows you to get your monet at a later date without a problem. Card present or online transactions only prevents you as a seller to make any money when the internet is not working.
- sgjohnson 3y ago
  It's technically possible to do a card present transaction without the internet working. I haven't seen this happen in practice on ground, but it's actually very common on airplanes, especially on Ryanair. You can pay for everything on-board with a credit card, using a physical terminal, and I can assure you that they don't have satellite internet. They just post the transactions when the plane lands. But I am somewhat curious as to why nobody in my experience has implemented this on ground. Because if the customer pays with an actual credit card, the risk that the transaction won't go through when the internet comes back up is near-0, provided the card is valid. It is theoretically (and I assume practically too, given that every credit card agreement I've ever signed--and it's a lot of agreements, considering I was churning a lot for airline points--specifically outlined extra fees for "overcharging" your account) possible to overcharge the account this way (i.e. the transaction would still go through even if it'd blast past your credit limit, up to some limit though, probably)
sitkack 3y ago
You are feigning confusion, you do understand it. Please don't propagate this mind virus here.
- pc86 3y ago
  "Please respond to the strongest plausible interpretation of what someone says, not a weaker one that's easier to criticize. Assume good faith." https://news.ycombinator.com/newsguidelines.html https://news.ycombinator.com/newsguidelines.html You have no idea what I do or do not understand, and my comment provides additional context which makes it pretty clear in what context I'm using the word "understand."