The Apple Wallet on my iPhone gives me the ability to scroll through and select any of my cards with a double click on the right button.
>> consumers may never need to manually enter an account number ever again
I guess we’ll instead use the tattoos on our foreheads
Only carry one now, how is this reduce that?
Also making it easier for the government to cut off all your credit if your ‘social score’ doesn’t meet the government minimums.
No thanks for me. No sale.
Was once asked what my credit score was. My guess - 0. Haven’t used anything like that in 30 years.
They definitely need to do something about the credit card fraud. The problem is, the banks and cops don’t really seem to care much about catching the perps.
We had some recurring fraud problems on a couple of Chase cards. I switched to CapitalOne for their “virtual card” system for all on-line purchases. There is one main physical card, but I can set up any number of “virtual cards” tied to that main card number. The virtual cards are tied to a single merchant and you can set separate expiration dates. It’s very fast to create a virtual card with a browser extension or on the mobile app. The virtual card is only good at that one merchant. For things that need renewal annually, I can temporarily turn off the card for 11 months, turn it on for the renewal, and turn it off again.
The virtual card has a 16 digit card number, an expiration date, and its own CCV.
I created one CapitalOne account with two cardholders, me and my wife. We can each set up our own virtual cards.
All the charges from every virtual card roll up to the main card. On the monthly statement, you don’t even see the virtual card numbers.
I’ve also set all of our cards up to send me a text message for every purchase.
Everything is a lot more secure since I did this.
Probably 90% of my purchases are done with my iPhone and Apple Pay.
What they didn’t mention here was opt-out tracking of your purchases so you get emails/texts of similar items. They are going to be doing what google ads do.
I don’t like the sound of this.
Honestly, it’s an issue of trust.
I don’t trust just about anyone anymore. Government, business,
people, you name it.
“The biggest change coming for Americans will be the ability for banks to issue one physical payment card that will be connected to multiple bank accounts.”
Now there is recipe to have all your banks accounts drained by fraud. And that fraud will not be covered either. The bank will not be required to pay you back for it. Just as they are not required to do so for the current debit cards. Consumers are way too stupid to figure this out.
Already there is no way to set up a bank account so that only in person withdraws are allowed. The ability to shut off digital withdraws does not exist. Banks will not protect people in these matters.
I’m just glad I’m old and childless.
But, I hope I die before cash is banned.
Ah yes!
The screws on the serfs finances are tightening more and more...
Within a coupe of years, the government will decide the exact spending uses and limits that the peasantry are allowed...
As usual, the American serfs will grumble and then bow down to their communist masters...
As long as we still get reward points on our cards, they can do what they want.