Will smartphones finally make the mobile wallet a reality?
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If you eliminate pennies, two things will happen. Firstly the cost of everything will be rounded up, and secondly all future price rises will be at a minimum of 5p (or cents or whatever the local coinage is called).
------------------------------------ I will never again mention that I was the poster of the One Millionth Lounge Post, nor that it was complete drivel. Dalek Dave CCC Link[^] Trolls[^]
Quite ... as now happens in Australia, where they did get rid of coppers (that's 1 and 2p, as those coins were historically made of copper, though now they are electroplated iron because copper is too expensive, and I believe the Aussie 1 and 2c were similar).
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If you eliminate pennies, two things will happen. Firstly the cost of everything will be rounded up, and secondly all future price rises will be at a minimum of 5p (or cents or whatever the local coinage is called).
------------------------------------ I will never again mention that I was the poster of the One Millionth Lounge Post, nor that it was complete drivel. Dalek Dave CCC Link[^] Trolls[^]
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No. Small cash purchases are zero infrastructure. There's no way a market stallholder, roadside farm shop etc is going to make the capital investment for a magic 'electronic wallet' reader, particularly as doing so will not increase their revenue. So unless governments are going to provide them for free, cash will always remain necessary. There are also enough people who seriously espouse the sort of data recording aversion that DD mentions to ensure that cash can't be eliminated. Other forms of 'electronic money' (debit/credit cards) are more replaceable – they're already electronic devices, after all. However, there is a large amount of physical and electronic infrastructure already devoted to working with them and something new would have to be significantly more convenient to use to be worth attempting to replicate all that.
Contra to this argument, physical cash is expensive. Any cash you hold is devaluing, so it's better to have it stay the bank where, in theory, it could be gaining interest. For the trader, the cash needs to be counted - time == money - and banked - more time + travel cost - or stored - requiring a safe for large amounts. For the banks, any cash holding again cannot be put to any use and have the same intrinsic costs of counting, transporting and storing. Electronic is good. Just what's being proposed currently is not so clever.
Panic, Chaos, Destruction. My work here is done. Drink. Get drunk. Fall over - P O'H OK, I will win to day or my name isn't Ethel Crudacre! - DD Ethel Crudacre I cannot live by bread alone. Bacon and ketchup are needed as well. - Trollslayer Have a bit more patience with newbies. Of course some of them act dumb - they're often *students*, for heaven's sake - Terry Pratchett
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I feel the same about toilet roll... 12 rolls for £5 will last about a month... whereas I can wash a £5 note and make it last 3 months
My opinions are right, and yours are wrong! (or at least that is my opinion)
Many years ago, when I lived alone, a 12 pack of toilet roll would last over a year. After Michelle moved in, a 12 pack wouldn't last a month. When her sister came to stay with us (Came for a couple of weeks, stayed for 6 years!) a 12 pack lasted about 10 days!
------------------------------------ I will never again mention that I was the poster of the One Millionth Lounge Post, nor that it was complete drivel. Dalek Dave CCC Link[^] Trolls[^]
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Use a different bank. If they all start trying that, use cash (and cheques, which have been reprieved here in the UK).
Cheques have the same cost as cash; see below.
Panic, Chaos, Destruction. My work here is done. Drink. Get drunk. Fall over - P O'H OK, I will win to day or my name isn't Ethel Crudacre! - DD Ethel Crudacre I cannot live by bread alone. Bacon and ketchup are needed as well. - Trollslayer Have a bit more patience with newbies. Of course some of them act dumb - they're often *students*, for heaven's sake - Terry Pratchett
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Steven J Jowett wrote:
strangely mobile
My wallet got that way since I got married.
The bearing of a child takes nine months, no matter how many women are assigned.
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The ultimate plan is to get rid of cash. Cash cannot be controlled or monitored, whereas electronic payments can. It is the destiny of us all, the New World Order needs to eliminate cash so that it can see where all of us spend our money.
------------------------------------ I will never again mention that I was the poster of the One Millionth Lounge Post, nor that it was complete drivel. Dalek Dave CCC Link[^] Trolls[^]
You said you lunched at home, so what's the payment to 'Rapid Rita' on your itemised credit sheet?
Panic, Chaos, Destruction. My work here is done. Drink. Get drunk. Fall over - P O'H OK, I will win to day or my name isn't Ethel Crudacre! - DD Ethel Crudacre I cannot live by bread alone. Bacon and ketchup are needed as well. - Trollslayer Have a bit more patience with newbies. Of course some of them act dumb - they're often *students*, for heaven's sake - Terry Pratchett
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You said you lunched at home, so what's the payment to 'Rapid Rita' on your itemised credit sheet?
Panic, Chaos, Destruction. My work here is done. Drink. Get drunk. Fall over - P O'H OK, I will win to day or my name isn't Ethel Crudacre! - DD Ethel Crudacre I cannot live by bread alone. Bacon and ketchup are needed as well. - Trollslayer Have a bit more patience with newbies. Of course some of them act dumb - they're often *students*, for heaven's sake - Terry Pratchett
I joked about having The Savoy bill my account as Krystall's House Of Pleasure. I would rather my wife thought I was being shagged sensless by an East European Prostitute in a Soho Backstreet, than having a rather fine lunch in the River Cafe, followed by drinkies in the American Bar without her!
------------------------------------ I will never again mention that I was the poster of the One Millionth Lounge Post, nor that it was complete drivel. Dalek Dave CCC Link[^] Trolls[^]
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You guy's haven't learnt tio have 2 wallets then? One for your wife to find and empty and the other just for yourself. Still sometimes it does lead to questions like "How did you afford that PlayStation thing, when you have no moey?:mad:". Errrm...
Steve Jowett ------------------------- Real Programmers don't need comments -- the code is obvious.
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Many years ago, when I lived alone, a 12 pack of toilet roll would last over a year. After Michelle moved in, a 12 pack wouldn't last a month. When her sister came to stay with us (Came for a couple of weeks, stayed for 6 years!) a 12 pack lasted about 10 days!
------------------------------------ I will never again mention that I was the poster of the One Millionth Lounge Post, nor that it was complete drivel. Dalek Dave CCC Link[^] Trolls[^]
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That's a subtitle I read in a magazine recently. Now, lets look at that again. Firstly my leather wallet containing round shiny metal object and pieces of paper with the queens head on them, is strangely mobile and has been since the day I purchased it. Come to think of it, all my previously wallets have also be highly mobile as has my father's, and his father's and his father's (and so on) before him. Now do I really want to use a phone as a method of payment? How may times has your battery on your mobile failed you compared to the battery on your smartcard/debit/credit card? How many times have you dropped your phone, only for it to break compared to your debit card? I think this is one of those technology-for-technology-sake situations. I think I'll give that a miss thankyou.
Steve Jowett ------------------------- Real Programmers don't need comments -- the code is obvious.
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That's a subtitle I read in a magazine recently. Now, lets look at that again. Firstly my leather wallet containing round shiny metal object and pieces of paper with the queens head on them, is strangely mobile and has been since the day I purchased it. Come to think of it, all my previously wallets have also be highly mobile as has my father's, and his father's and his father's (and so on) before him. Now do I really want to use a phone as a method of payment? How may times has your battery on your mobile failed you compared to the battery on your smartcard/debit/credit card? How many times have you dropped your phone, only for it to break compared to your debit card? I think this is one of those technology-for-technology-sake situations. I think I'll give that a miss thankyou.
Steve Jowett ------------------------- Real Programmers don't need comments -- the code is obvious.
Also, how do you tip a stripper with your smartphone? Sticking your phone in her g-string doesn't seem like it'd have the same effect? Slightly off-topic, but I was in Vegas last week and I was a little disappointed to find that none of the slot machines actually take coins anymore. No coins mean no sound of coins jingling as people win (usually less than they put in) money. I kinda felt like something was lost by doing away with the buckets of quarters.
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You guy's haven't learnt tio have 2 wallets then? One for your wife to find and empty and the other just for yourself. Still sometimes it does lead to questions like "How did you afford that PlayStation thing, when you have no moey?:mad:". Errrm...
Steve Jowett ------------------------- Real Programmers don't need comments -- the code is obvious.
Steven J Jowett wrote:
"How did you afford that PlayStation thing, when you have no moey?:mad: ".
"It's Bob's old one, he gave it to me since he just bought the new version.". {Bob is the 'friend' your wife hates and will never talk to.]
Panic, Chaos, Destruction. My work here is done. Drink. Get drunk. Fall over - P O'H OK, I will win to day or my name isn't Ethel Crudacre! - DD Ethel Crudacre I cannot live by bread alone. Bacon and ketchup are needed as well. - Trollslayer Have a bit more patience with newbies. Of course some of them act dumb - they're often *students*, for heaven's sake - Terry Pratchett
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I joked about having The Savoy bill my account as Krystall's House Of Pleasure. I would rather my wife thought I was being shagged sensless by an East European Prostitute in a Soho Backstreet, than having a rather fine lunch in the River Cafe, followed by drinkies in the American Bar without her!
------------------------------------ I will never again mention that I was the poster of the One Millionth Lounge Post, nor that it was complete drivel. Dalek Dave CCC Link[^] Trolls[^]
Either way, I think Mrs Wife would rip me nadgers off.
Panic, Chaos, Destruction. My work here is done. Drink. Get drunk. Fall over - P O'H OK, I will win to day or my name isn't Ethel Crudacre! - DD Ethel Crudacre I cannot live by bread alone. Bacon and ketchup are needed as well. - Trollslayer Have a bit more patience with newbies. Of course some of them act dumb - they're often *students*, for heaven's sake - Terry Pratchett
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She lets you have your wallet back when it's empty, right?
Panic, Chaos, Destruction. My work here is done. Drink. Get drunk. Fall over - P O'H OK, I will win to day or my name isn't Ethel Crudacre! - DD Ethel Crudacre I cannot live by bread alone. Bacon and ketchup are needed as well. - Trollslayer Have a bit more patience with newbies. Of course some of them act dumb - they're often *students*, for heaven's sake - Terry Pratchett
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Contra to this argument, physical cash is expensive. Any cash you hold is devaluing, so it's better to have it stay the bank where, in theory, it could be gaining interest. For the trader, the cash needs to be counted - time == money - and banked - more time + travel cost - or stored - requiring a safe for large amounts. For the banks, any cash holding again cannot be put to any use and have the same intrinsic costs of counting, transporting and storing. Electronic is good. Just what's being proposed currently is not so clever.
Panic, Chaos, Destruction. My work here is done. Drink. Get drunk. Fall over - P O'H OK, I will win to day or my name isn't Ethel Crudacre! - DD Ethel Crudacre I cannot live by bread alone. Bacon and ketchup are needed as well. - Trollslayer Have a bit more patience with newbies. Of course some of them act dumb - they're often *students*, for heaven's sake - Terry Pratchett
Nagy Vilmos wrote:
the bank where, in theory, it could be gaining interest.
this is not just in theory, I can confirm that my bank does have a lot of interest in my money, namely the money that they haven't got their hands on yet
My opinions are right, and yours are wrong! (or at least that is my opinion)
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If you eliminate pennies, two things will happen. Firstly the cost of everything will be rounded up, and secondly all future price rises will be at a minimum of 5p (or cents or whatever the local coinage is called).
------------------------------------ I will never again mention that I was the poster of the One Millionth Lounge Post, nor that it was complete drivel. Dalek Dave CCC Link[^] Trolls[^]
Just doesn't make any cents.
I may be schizophrenic, but at least I have each other.
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That's a subtitle I read in a magazine recently. Now, lets look at that again. Firstly my leather wallet containing round shiny metal object and pieces of paper with the queens head on them, is strangely mobile and has been since the day I purchased it. Come to think of it, all my previously wallets have also be highly mobile as has my father's, and his father's and his father's (and so on) before him. Now do I really want to use a phone as a method of payment? How may times has your battery on your mobile failed you compared to the battery on your smartcard/debit/credit card? How many times have you dropped your phone, only for it to break compared to your debit card? I think this is one of those technology-for-technology-sake situations. I think I'll give that a miss thankyou.
Steve Jowett ------------------------- Real Programmers don't need comments -- the code is obvious.
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But modern technology....but...but... For instance, here's[^] a picture of a cordless screwdriver.
It always itches for the first week or so. My Mu[sic] My Films My Windows Programs, etc.
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No. Small cash purchases are zero infrastructure. There's no way a market stallholder, roadside farm shop etc is going to make the capital investment for a magic 'electronic wallet' reader, particularly as doing so will not increase their revenue. So unless governments are going to provide them for free, cash will always remain necessary. There are also enough people who seriously espouse the sort of data recording aversion that DD mentions to ensure that cash can't be eliminated. Other forms of 'electronic money' (debit/credit cards) are more replaceable – they're already electronic devices, after all. However, there is a large amount of physical and electronic infrastructure already devoted to working with them and something new would have to be significantly more convenient to use to be worth attempting to replicate all that.
BobJanova wrote:
There's no way a market stallholder, roadside farm shop etc is going to make the capital investment for a magic 'electronic wallet' reader
Actually a lot of small retailers are just pulling their own iPhones out of their back pocket and letting you transfer the money with a bump.
