TBH, over here it seems in super markets, fast food joints etc 75% of the transactions seem to be per card. Looking at that, it seems likely in 5-10 years it will probably still be possible to pay with physical currency but you will at the same time be looked at like in the 1900s if you told you have a refrigerator. Or a land line phone.
That’s what I thought. I just haven’t seen any kingly cash lately. Since I live near the Vancouvers I expect to see some soon in my change.
Maybe you are just too poor to see kingly cash? 😆
Sry, please don't mind my joke, I'll not throw any stones as I'm on the poverty border myself.
Ministry of silly walks vibes intensifies
I won't argue that, it's simply a fact. Nevertheless, if you lose your phone, you lose a lot more at the same time, even if it's not hacked etc. - it becomes a lot more important how you do something than what you're doing. And a single data breach can cause you more trouble and a lot more depends on it. And no, I'm not a technophobe. 😉
I was reading yesterday about a couple who's phone based interactions with their solicitor was being watched and an email was faked. They were bilked out of their $50k home deposit.
I disagree. I still have the physical credit card. To access the cards on my phone you need my face (or one that's similar enough to fool the Face ID) and you need my phone.
When I use my phone for a credit card transaction, a one-time use, unique 16-digit credit card number is randomly generated and used for that transaction, so if someone sniffs the card number, they won't be able to use it. It was actually my bank who recommended digital wallets. Since they're on the hook for any fraudulent transactions they have a pretty strong interest in limiting fraud.
A single data breech won't cause significant trouble as I'm not silly enough to reuse passwords, especially not ones for financial services, medical services, etc.
Tom
Ouch! Well, that can't happen to me because of lack of funds 😀 but you'll have the trouble nonetheless. All the bonus points, reward cards, "win xy item or $$$$$" just multiply the points of failure. Not that you are safe if you avoid those but reducing the number of companies which sell your data seems to be a good step into the right direction. There was never a 100% safety rate and it can only get worse from now on, even if you don't do anything wrong yourself.
Well, my account can't be overdrawn. That will probably not prevent the overdraft fee or return fee (or however it's called, sry, not a native speaker)
It doesn't matter if you agree, if they got your card details, they can access everything even without your card, phone or your biometrics since that's required by your phone payments but not by your card bank transactions. And that means your cards are protected on your phone but not by any account/card hacks. You are relying on principles that apply to physical currency (money) but ignoring the electronic part. That's the same as having a safe with a 10 digit code , 2 simultanously required keys, a finger print, which got it's back covered by a card board sticking out of your back wall.
This map of pubs in the UK seems accurate.
