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Kent Vorland
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Kent Vorland
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So the everlasting battle between the traditional plastic cards, credit and debit cards, versus the more modern Apple, Google, Samsung, Amex, Pay, you name it, they all have one at this point. Generally, reports suggest the last few years that I've been reading them, and yeah, if you want, you know, 35, 40, fun filled pages about just payments do feel free to read these global payment reports that are coming out but if not then I can tell you that quite often it indicates that plastic cards traditional cards still are people's favorites and people are not despite simplicity in use of Google on that public Google pay there's still no there's no incentive over using plastic card etc. You can talk about security and this and that but ultimately people find it just as easy or easier to just pull out a contactless card, use their plastic and done. So what about you? What do you find better, easier, more secure, more user-friendly? I'm very curious to hear your feedback on this. Essentially the question is in short, regular plastic credit at debit cards or or Apple Google Samsung Pay or any similar alternative to that.
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I'm so deep into the Apple ecosystem is too late to turn back. So you already know what I'm going to say. Apple everything, everywhere.
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I respect that. I got out of the Apple ecosystem in 2015 and since I've never looked back. But yeah, I do see that it's a convenient place to be when you've got everything integrated.
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I feel like I definitely fuck with Google pair Apple Pay a little more just because it's linked to my actual card and like I don't have to carry my purse around or like physical cards on me if I just had my phone and I'm really like unlikely to lose my phone so it's definitely easier with my phone
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Fair play, fair play. There's a good argument there. And then, you know, it might be that there's a different generational gap in terms of who prefers what as well. Younger generations tend to lean more towards more technologically advanced solutions. but I appreciate you sharing, I appreciate you replying.
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Honestly, I do prefer the regular plastic debit cards just because I think when having it in your possession, I don't know, you have control of your pin, all that stuff, but also if you're ordering stuff online, I know a lot of sites, they love to save cards to the website, but you can also, you know, delete that information. I don't know, I guess I'm just more familiar with the plastic debit cards.
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Yeah, definitely good points around the safety. And very often it is much easier with Google and Samsung and Apple Pay because they have a different underwriting policy. So they don't actually have a minimum expense on the contact list using your phone, as you will with contactless debit cards. Not to mention not all debit or credit cards are actually contactless. you almost get a protection from that micro spending very often.
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I don't know I use Apple Pay when I can as opposed to getting my cards out just because it's way easier almost always have my phone up at five today into my wallet to pull out a card it just takes more time you know
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Yeah, for sure it's much easier to use if you've already got your phone out. I was just saying, someone earlier that it might be a generational thing, that perhaps younger people tend to have their phone out more often, it might be easier. And they're more used to the technology-based payment solutions rather than going for the traditional plastic debit and credit cards. But no, thank you for applying. Thanks for the feedback.
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Yeah sometimes change does not occur quickly but I would say that the Apple Pay in a Google pay when you can just pop your phone up to the scanner that's much easier and much more secure I think
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Yeah, absolutely. In many ways it is extremely secure. Because it comes down to physical security to the device, so unless your phone's been tampered with, you should be fine. And I guess just like with losing cards, obviously you have the pin and so on, that's where the transaction amount comes into play. Because in the phone, if you lose it and someone actually gains access to it, they can purchase anything on that because they have different underwriting policies. So there's no minimum spend which there is if you lose your contactless card. So there's a lot of pros and cons.
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I mean, I like both. I use both quite often. Just, yeah, I've got credit cards that I use, like with a plastic card. And my debit cards are all stored in my device. But then obviously there's instances where I run out of battery and I can't use it. So I think traditional cards will always be there.
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Yeah fair play and good point on the battery as well. I mean I think I have a similar setup where I've got credit and debit cards on the device and then on the other hand use the plastic cards. My device almost becomes my backup if I've left my wallet somewhere or something like that but I don't really use it as a primary.
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I'm not... I already answered one of these but I pretty much enjoy having the cards on my phone. It makes it easier. I don't have to carry the physical thing. and be embeddable. I think it's the future. We're here to appreciate it.
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So here's my problem my digital mini OK on it is and then all of its track to trackable and I vehemently do not agree with taxes I think I don't like government either but anyway You know I've never set up my Apple Pay and I mean I use cards I very rarely have cash and I say that after thing I don't like digital money which is dumb
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But it'll be interesting to see how things go I thought it was really I don't know if the chain shortage that was friggin staged and I'm not a conspiracy theorist he's just like this is so dumb during the pandemic like was all over the place but I was like where is the money going I mean like I was in retail for a long time and you do a deposit and go to the bank and then you pick up you know whatever anyway just silly silly I'm rambling I apologize welcome to my world
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Yeah, as you say, car just ill digital money. I mean, even the so I work closely with big companies like Visa, Massacre, these guys, and they're more data companies than they are anything else. They just facilitate the data exchange of what money goes where and it's all numbers on the screen, right? So the change shortage, I mean, these tend to be very real during economic downtimes because people take out their money from banks where they don't actually have the cash reserves available. and oh, I'm going to save this for next year.
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So I'm not sure if you're familiar with the bank's cash reserve and all that, but that's set by the Fed. And I think at the moment they have a 10% cash reserve limit. So basically that means that out of all the money that they say that they have and out of all the money that people have deposited, only 10% of it needs to be in cash. So that is where that comes from. So you can actually have $100 be circled around and become $1,000 without the actual cash changing hands and without the actual cash being more than $100.
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I think Apple Pay is like no limit kind of situation makes it more convenient in that aspect but I don't know there's something more satisfying about putting other credit card and just tapping it on that screen it's a bit Baller alright with a receipt when you doing your phone if you like her Feels a bit more nerdy I guess that's the only way I can describe it
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Yeah, so Google, Apple, Samsung, Pay, these are underwriting them, underwriting the payments themselves. So it doesn't work quite as you would with a contactless card. So there is an actual limit. But I don't actually know if you are able to set your own limits on Apple Pay. I've not actually checked that with Google Pay. That would be interesting to look at.
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I don't know, I think I just heard somewhere that it's more than the regular plastic contactless limit but I'm sure there is some limit. You can just go and run a $10,000 transaction with Apple Pay. I'm pretty sure. But yeah, interesting.
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Yeah, no, you're spot on. You know, it's a much lower limit, Contolas cards, and Google, Apple, Samsung, Pay, you know, they have, this is what I say, they have unlimited usage, but is it within reasonable limits? Do they have their own maximums and so on? I've actually not checked that. I should know this, having run a an apparements company for sure.
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Actually, I'm sure this would take me four seconds to check with chat GPT. Just like do any of these God limits.
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Sometimes I use Apple Pay. I prefer to use the regular debit card.
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What is it that makes you want to or prefer to use regular debit cards in front of mobile solutions like Apple Pay? specific or is it perhaps because you're more used to it?
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