4 ms·

This could be killer if it lets you do person-to-person money transfers like PayPal. If my buddy can pay me back for the movie tickets I bought him earlier with

by johns 18y ago

This could be killer if it lets you do person-to-person money transfers like PayPal. If my buddy can pay me back for the movie tickets I bought him earlier with his iPhone and have it go straight to my bank account, I would definitely use it. Obviously there are security and other barriers to overcome but it's not an impossible problem. You don't really need the hardware for this type of thing though.

vaksel 18y ago
why wouldn't your buddy just pay you in cash next time he saw you?
- GeneralMaximus 18y ago
  Your question can be answered by another question: why do we use credit cards? Why not use cash for everything?
  - pj 18y ago
    Answer: Credit cards enable the user to live beyond his or her means and cash does not.
    - FooBarWidget 18y ago
      I only use my credit card as a payment method. Most online shops don't accept anything but credit card, and sometimes I just don't have enough cash with me and don't want to bother walking to the closest ATM. Credit cards allow you to loan money but I think that's ridiculous. I don't want to have a debt every time I buy something, I just want to pay immediately, with the money I already have, not with money that I don't have.
    - jackchristopher 18y ago
      A benefit (of cash) is that it allows anonymity -- excluding the cashier of course.
whatusername 18y ago
Can't he do that from his bank website/app?
ajju 18y ago
You are going to carry around an acorn like device for your iphone so you can swipe your buddy's credit card after you lend him money? And if he has his credit card why wouldn't he just pay for his tickets using the card? I don't think this product is targeted at peer to peer money transfers for individuals. It's for businesses who want to charge customers. The pizza delivery guy or the taxi driver who, today, copies down your credit card number or "calls it in" for example.

by johns 18y ago

vaksel 18y ago

why wouldn't your buddy just pay you in cash next time he saw you?

GeneralMaximus 18y ago
Your question can be answered by another question: why do we use credit cards? Why not use cash for everything?
- pj 18y ago
  Answer: Credit cards enable the user to live beyond his or her means and cash does not.
  - FooBarWidget 18y ago
    I only use my credit card as a payment method. Most online shops don't accept anything but credit card, and sometimes I just don't have enough cash with me and don't want to bother walking to the closest ATM. Credit cards allow you to loan money but I think that's ridiculous. I don't want to have a debt every time I buy something, I just want to pay immediately, with the money I already have, not with money that I don't have.
  - jackchristopher 18y ago
    A benefit (of cash) is that it allows anonymity -- excluding the cashier of course.

whatusername 18y ago

Can't he do that from his bank website/app?

ajju 18y ago

You are going to carry around an acorn like device for your iphone so you can swipe your buddy's credit card after you lend him money? And if he has his credit card why wouldn't he just pay for his tickets using the card? I don't think this product is targeted at peer to peer money transfers for individuals. It's for businesses who want to charge customers. The pizza delivery guy or the taxi driver who, today, copies down your credit card number or "calls it in" for example.