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ehhhh i only use two cards anyway, debit and credit. with the occasional cash purchase thrown in. my loyalty cards are all just keychain tag thingies...they aren't store credit cards or whatever

See I have 4 plus a few loyalty cards, so this would thin my wallet quite a bit

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Love the idea of things like this but until they produce something that allows me to put my travel card, season ticket, loyalty cards etc on it and can guarantee that anywhere i go i can use it i.e cabs, small shitty shops and let me take cash out with it... i can't see it really making life easier for me.

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My buddy just showed me this. He's really excited about it. Unfortunately, I don't operate off of that many different cards. When he told me that it was only $50, I was surprised though. I expected something this new and trendy to be a little more expensive. So, that's pretty cool. I'm really interested to see how well it works.

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okay. i've been thinking about this thing and now i'm thinking it's a horrible idea. this will make it super easy for people to steal credit cards. for instance, if a waiter has one, he can scan your card when he takes your card back. then he can use this card anywhere the next day.

 

it seems there will be nothing for a retailer to verify. there will be places that don't take it because of the risk involved. the whole thing just seems like a bad idea.

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okay. i've been thinking about this thing and now i'm thinking it's a horrible idea. this will make it super easy for people to steal credit cards. for instance, if a waiter has one, he can scan your card when he takes your card back. then he can use this card anywhere the next day.

 

it seems there will be nothing for a retailer to verify. there will be places that don't take it because of the risk involved. the whole thing just seems like a bad idea.

 

True, but after the fact it's fairly easy for banks to track that kind of stuff. If they get a ton of reports from customers claiming fraud, and the thread linking those customers is a particular restuarant, they can easily go to the restaurant, check receipts and know which server is the culprit.

 

That being said, it wouldn't stop it before it happens or anything.

 

Also, if there is substantial risk I can see a lot of banks just not allowing their cards to work with a device like this.

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True, but after the fact it's fairly easy for banks to track that kind of stuff. If they get a ton of reports from customers claiming fraud, and the thread linking those customers is a particular restuarant, they can easily go to the restaurant, check receipts and know which server is the culprit.

 

 

As someone who has worked in banking for 8 years, I know they don't go after people. Eventually, they will just say any transactions done with these things won't be covered for fraud.

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As someone who has worked in banking for 8 years, I know they don't go after people. Eventually, they will just say any transactions done with these things won't be covered for fraud.

 

I would be very surprised it that were to happen. I've been working for a large national bank for the same amount of time and our fraud/claims group is very much the opposite.

Like I mentioned above, if anything they'd just make it so their cards didn't work with that device. Just like certain banks debit/credit cards won't work on online gambling sites.

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