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Would you use NFC?

I don't really see the point. Is it really so much hassle just to get your money or a debit card out?!

Most Useful Answer dicksteel18  Jun. 10, 2011 at 17:35

A lot of people hear NFC and just assume contactless payments, which admittedly has been the largest selling point, but you should remember it is just a communication method and has a large potential for various different uses and not just contactless payments.

and JanSt, to say we can live okay without banks is a ridiculous statement. :-P

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CTPAHHIK  Jun. 10, 2011 at 16:44

Banks need to make more money. Someone has to pay for NFC readers + usage fees and it will be you even if you not going to use it. Might as well get one anyway.

I would not use it, but will definitely get one. Depending on how it will be implemented it might be better than credit card.

JanSt / MOD  Jun. 10, 2011 at 16:54

No. Most certainly not.
We can live okay without banks and credit cards. We've just forgotten. And by 'we' I don't mean me :p

dicksteel18  Jun. 10, 2011 at 17:35

A lot of people hear NFC and just assume contactless payments, which admittedly has been the largest selling point, but you should remember it is just a communication method and has a large potential for various different uses and not just contactless payments.

and JanSt, to say we can live okay without banks is a ridiculous statement. :-P

JanSt / MOD  Jun. 10, 2011 at 18:49

"ridiculous”?
Mate, I have 2 1/2 jobs, I own a house, a car, I have worked selfemployed for years, etc etc... I have NOT had a bank account for 22 years. I do not own a credit card. In my lifetime the majority of people DID not have a bank account.

dicksteel18  Jun. 10, 2011 at 18:58

Just because you don't have a bank account doesn't mean they're not necessary. Banks remove the 'double coincidence of wants' problem meaning that without banks the level of investment would be far lower and economic growth would be far lower meaning everyone's standard of living would be lower. That's just one example. Banks don't only provide people with bank accounts :-P, they're the foundations of the worlds financial systems.

Maybe ask Sam Thewlis if he thinks banks aren't important :-P

JanSt / MOD  Jun. 11, 2011 at 09:35

Well, potato po tah to.
Lets agree to disagree.
And even if we'd agree we cannot get rid of banks, I don't think that should mean we should lap up their every excretion screaming, yummy!

socialjeebus  Jun. 11, 2011 at 19:00

Well I live in Seoul. Over here we've been using it for years. To be honest it is quite possible to live without a wallet, I can pay for all public transport (even taxis), buy stuff in shops and even withdraw cash (if absolutely necessary) using only my mobile phone.

CTPAHHIK  Jun. 13, 2011 at 08:42

Jeebus, when UK gets to this level NFC will be welcomed. Right now you cannot get around your day with just a credit card. You must have cash. McDonald's will not accept non chip and pin credit card. So unless you have EU credit card you will need cash. A lot of EU transportation systems will not sell you a ticket without EU credit card. If you are a tourist and get robbed you cannot buy a ticket to get to your hotel.
NFC is just a joke at this point.

JanSt / MOD  Jun. 13, 2011 at 12:45

Have any of you ever spent a minute to consider the implications of a cashless society? O_o

CTPAHHIK  Jun. 13, 2011 at 13:38

We are a cashless society. You become part of it when your paycheck no longer arrives as cash in envelope.
Try withdrawing 10K cash from your bank and see what they will tell you. If you need to make electronic payment or transfer for same amount it's not a problem.

JanSt / MOD  Jun. 13, 2011 at 17:10

You're right. But it can still become cash-less-ER! And I tell you all: we'll be royally f*cked, once all cash is gone.

socialjeebus  Jun. 14, 2011 at 16:09

JanSt nevermind 10k, if you carry more than 1k through an airport then customs (UK at least) can detain your cash until you prove it's yours. Cash is becoming increasingly irrelevent.

I appreciate that the Far-East is way ahead on this but I imagine this is where the UK/Wes is heading - eventually.

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