It has massive perks, especially in regions where the transaction fee or exchange fee scams run.
reply(Basically they have a reasonable price showing and when you pay with a credit card you see your banks charges you a huge amount. It can be as simple as in Mexico $ is used for pesos so if the merchant actually charges you USD that's 20x or so rip off).
But... This isn't mutually exclusive, why can't I set a price on my smartphone when I pay by contactless?
The other benefit is that there QR codes are bank transfers. Which have substantially less recourse and less rights for the consumer. Probably doesn't matter for a $10 sandwich but still significant.
To me NFC is superior. It checks all the boxes you mentioned plus quicker / last steps
replyI'd much prefer NFC if I could see how much I was paying and had to always confirm it -- I understand this wouldn't have worked with physical cards but I wish it was an option on my phone.
replyI would claim the main cause why it is more complicated is having VAT and KYC/AML requirements. Transactions can be much easier if you ignore the VAT requirement.
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