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Contactless suffers from the problem of barely being deployed. Every merchant support magstripe capture, most take chip-based, but zillions of merchants in the

Contactless suffers from the problem of barely being deployed. Every merchant support magstripe capture, most take chip-based, but zillions of merchants in the real world™ don't support any sort of contactless at all. Furthermore, if a transaction runs as ACH in this magical consolidation shift then there is essentially no recourse for the consumer (no chargebacks); the funds are gone.

toomuchtodo 2y ago
You seem to have a fundamental misunderstanding of current state of the payment landscape in the US. Besides Home Depot (well known contactless incapable merchant due to an unfortunate payment terminal deployment cycle) or Walmart (to push Walmart Pay in the US and Mexico, they accept contactless in 20 other countries!), contactless is fairly widespread in the US and magstripe captures when a chip is available is an automatic chargeback loss (“EMV liability shift” as of Oct 1st, 2015). Interestingly, Wise (formerly TransferWise) is currently rotating their card numbers due to a partner change, and they’re going digital first in mobile wallets (with a replacement physical card available if you insist). Strong signal in the direction we’re headed (bridging the gap between physical cards of yesterday and digital wallets of tomorrow). Look at trajectory and velocity, not a static snapshot in time. https://www.cnbc.com/select/mastercard-survey-contactless-payments/ https://www.cnbc.com/select/mastercard-survey-contactless-pa... https://www.mastercardservices.com/en/resources/expertise/contactless-payments-continuing-momentum-us https://www.mastercardservices.com/en/resources/expertise/co... https://cb-alert.com/two-thirds-of-us-merchants-accept-contactless-payments/ https://cb-alert.com/two-thirds-of-us-merchants-accept-conta... https://www.mastercard.com/news/perspectives/2021/magnetic-stripe/ https://www.mastercard.com/news/perspectives/2021/magnetic-s...
- hi-v-rocknroll 2y ago
  > You seem to have a fundamental misunderstanding of current state of the payment landscape in the US. Maybe you should come here because you don't know what you're talking about. There are far, far more business establishments than a few chain megacorps.
  - toomuchtodo 2y ago
    You’re talking anecdotes, I’m talking data. Working in financial services though, I am definitely interested to hear what establishments nearby you do not support contactless payments at this time. > 31 million Americans tapped a Visa contactless card or digital wallet in March 2020, up from 25 million in November, with overall contactless usage in the U.S. growing 150% since March 2019. The U.S. now has the most contactless cards of any market globally at 175 million, with nine of the top ten U.S. issuers actively rolling out new contactless cards to customers. U.S. consumers have been quick to adopt these new cards; not only do more consumers have cards, they are using them regularly as contactless card transaction growth continues to accelerate. From my MasterCard citation above.
    - hi-v-rocknroll 2y ago
      You're arguing with yourself and unable to accept the viewpoint of anyone but yourself to seem "right".
      - toomuchtodo 2y ago
        Okay, take care.
MBCook 2y ago
I have been paying with contactless from my AppleWatch nearly everywhere I go for many years in the US. I think my pharmacy was the last normal retailer to get it (they had been dragging their fear), and even many of the gas pumps around me got contactless 2-3 years ago. Even many restaurants seem to support it these days. The only time I don’t try to use it is for large purchases because I’m not sure what transaction size limits my cards have for contactless. I also don’t at fast food drive throughs because I’ve never seen a good solution at one. The poor person at the window always seems to have to hold a terminal out, possibly on some stick. And it seems like more trouble than it’s worth. Practically every terminal that was installed to be able to support EMV many years ago had contactless support. Some places were jerks about turning it on, but it’s really really common for it to work even if they don’t have signs advertising it.

toomuchtodo 2y ago

You seem to have a fundamental misunderstanding of current state of the payment landscape in the US. Besides Home Depot (well known contactless incapable merchant due to an unfortunate payment terminal deployment cycle) or Walmart (to push Walmart Pay in the US and Mexico, they accept contactless in 20 other countries!), contactless is fairly widespread in the US and magstripe captures when a chip is available is an automatic chargeback loss (“EMV liability shift” as of Oct 1st, 2015). Interestingly, Wise (formerly TransferWise) is currently rotating their card numbers due to a partner change, and they’re going digital first in mobile wallets (with a replacement physical card available if you insist). Strong signal in the direction we’re headed (bridging the gap between physical cards of yesterday and digital wallets of tomorrow). Look at trajectory and velocity, not a static snapshot in time. https://www.cnbc.com/select/mastercard-survey-contactless-payments/ https://www.cnbc.com/select/mastercard-survey-contactless-pa... https://www.mastercardservices.com/en/resources/expertise/contactless-payments-continuing-momentum-us https://www.mastercardservices.com/en/resources/expertise/co... https://cb-alert.com/two-thirds-of-us-merchants-accept-contactless-payments/ https://cb-alert.com/two-thirds-of-us-merchants-accept-conta... https://www.mastercard.com/news/perspectives/2021/magnetic-stripe/ https://www.mastercard.com/news/perspectives/2021/magnetic-s...

hi-v-rocknroll 2y ago
> You seem to have a fundamental misunderstanding of current state of the payment landscape in the US. Maybe you should come here because you don't know what you're talking about. There are far, far more business establishments than a few chain megacorps.
- toomuchtodo 2y ago
  You’re talking anecdotes, I’m talking data. Working in financial services though, I am definitely interested to hear what establishments nearby you do not support contactless payments at this time. > 31 million Americans tapped a Visa contactless card or digital wallet in March 2020, up from 25 million in November, with overall contactless usage in the U.S. growing 150% since March 2019. The U.S. now has the most contactless cards of any market globally at 175 million, with nine of the top ten U.S. issuers actively rolling out new contactless cards to customers. U.S. consumers have been quick to adopt these new cards; not only do more consumers have cards, they are using them regularly as contactless card transaction growth continues to accelerate. From my MasterCard citation above.
  - hi-v-rocknroll 2y ago
    You're arguing with yourself and unable to accept the viewpoint of anyone but yourself to seem "right".
    - toomuchtodo 2y ago
      Okay, take care.

MBCook 2y ago

I have been paying with contactless from my AppleWatch nearly everywhere I go for many years in the US. I think my pharmacy was the last normal retailer to get it (they had been dragging their fear), and even many of the gas pumps around me got contactless 2-3 years ago. Even many restaurants seem to support it these days. The only time I don’t try to use it is for large purchases because I’m not sure what transaction size limits my cards have for contactless. I also don’t at fast food drive throughs because I’ve never seen a good solution at one. The poor person at the window always seems to have to hold a terminal out, possibly on some stick. And it seems like more trouble than it’s worth. Practically every terminal that was installed to be able to support EMV many years ago had contactless support. Some places were jerks about turning it on, but it’s really really common for it to work even if they don’t have signs advertising it.