I can assure you that south east asians also still have cards, despite not making most of their payments with it. Not all ATMs support withdrawing with just a QR code from all banks, for one.
replyThere are benefits to non-QR based payment systems, such as not wanting to pull out your phone, open an app, scan a QR and approve to make a payment that takes me 2 seconds with regular contactless payments.
Physical cards are also a nice fallback to have in cases of running out of battery, theft, etc.
And how do you do this without a phone?
replyI don't really understand why this is better than tap and pay with a card. Why would I want a single point of failure for both my communications and my ability to make payments?
replyBecause your bank doesn't want the hassle of mailing cards. It's another reduction in quality for profit.
replyQr apps just sound cumbersome compared to contactless tap to pay.
reply> Far less fraud as a result.
replyWho returns your money to you if you purchased something on mail order with this, and it turned out to be fraud?
Third party escrow, if you explicitly used one. There's no free lunch.
replyAnd now you have invented Visa and MasterCard again.
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