And a good thing too.
“Ruston Miles, founder and advisor of Bluefin, told Lifewire via email.
But in Europe, cards are rarely swiped through a reader.
CardMapr.nl / Unsplash
Failing that, you insert the card, and it reads the chip.
“With digital wallets, even the merchant cant see your financial information.
As you pay, a unique 16-digit code is applied instead of one unchanging credit card number.
Jonas Leupe / Unsplash
In the US, the infrastructure update has been slow.
Jonas Leupe / Unsplash
“Change has to happen with merchants, too.
When people get a taste of Apple Pay, they want to use it everywhere.
And the pandemic has only sped things up.
They lag about five years behind most American retailers thanks to an extension they negotiated with financial institutions.”
And then theres the biggest incentive of allmoney.
But what about the future?
What new features could phone payments bring?
…EMV chips create unique, encrypted codes whenever you use your card.
While this doesnt completely eliminate the risk of using credit cards, it does reduce it.
Another may be ATM withdrawals using a phone instead of a card and a number.
Phones really do seem to be the future of credit card payments.
