Google, Sprint to Launch NFC Payments Thursday

[arie]

'Three major U.S. wireless carriers recently announced their support for an NFC payment system called Isis, which would let Americans pay for items at retail stores with their mobile phones rather than using physical credit cards.' http://www.pcmag.com/article2/0,2817,2385855,00.asp
what will this do to the cc industry as a whole, but more importantly for us, are we seeing the beginning of the end of cc sign-up bonuses?

[airblade]

This is great, loose your phone, and now you can loose everything. I am sure as you read this, that thousands of hackers are working to crack the system. 

[txtmax4]

are we seeing the beginning of the end of cc sign-up bonuses?

Read the article.
It's not the mobile carriers the ones who will be funding the transaction and then bill you for it.
The money will still come out if your credit card, only you won't need to have the physical card on you.

[arie]

Read the article.
It's not the mobile carriers the ones who will be funding the transaction and then bill you for it.
The money will still come out if your credit card, only you won't need to have the physical card on you.

thats all true, the question is if eventually physical cards will become obsolete. maybe you will have a credit line with a bank that is connected with your google account, i

[txtmax4]

thats all true, the question is if eventually physical cards will become obsolete. maybe you will have a credit line with a bank that is connected with your google account, i

Why would you think that they'll stop giving bonuses for credit lines?
After all, isn't that all that a credit card is? (plus the piece of plastic).

[arie]

Why would you think that they'll stop giving bonuses for credit lines?
After all, isn't that all that a credit card is? (plus the piece of plastic).

i obviously dont know what will happen, but if it so plays out that no one is using physical cards anymore because they could just use their phone, it wont make sense anymore for a bank to offer multiple cards. so what might end up happening is, it will just be banks competing for your business to have a credit line with them, but no more multiple cards from each company. so while a bank may offer a bonus for you to open a credit line with them, we wont have multiple bonuses for every card anymore. hopefully this wont happen

[txtmax4]

i obviously dont know what will happen, but if it so plays out that no one is using physical cards anymore because they could just use their phone, it wont make sense anymore for a bank to offer multiple cards. so what might end up happening is, it will just be banks competing for your business to have a credit line with them, but no more multiple cards from each company. so while a bank may offer a bonus for you to open a credit line with them, we wont have multiple bonuses for every card anymore. hopefully this wont happen

1) Banks can technically do that nowadays with one credit card, nevertheless, people are opening more than one cc from the same bank.
2) You will still need physical cards to spend at stores that don't support NFC.

[arie]

1) Banks can technically do that nowadays with one credit card, nevertheless, people are opening more than one cc from the same bank.
2) You will still need physical cards to spend at stores that don't support NFC.

i think we are going in circles...
1) today there are physical cards, so you can have many types of cards that a bank will target to different individuals i.e. someone who flies continental will like a co card, if i like hilton hotel i'll get hilton credit card etc. (i'm talking about normal people, not DDR's   if people wont use physical cards, than that wont be an option.
2)there is no reason a store cant support NFC processing like they do cc today

[Zeeeeks]

i think we are going in circles...
1) today there are physical cards, so you can have many types of cards that a bank will target to different individuals i.e. someone who flies continental will like a co card, if i like hilton hotel i'll get hilton credit card etc. (i'm talking about normal people, not DDR's   if people wont use physical cards, than that wont be an option.
2)there is no reason a store cant support NFC processing like they do cc today

Whats the difference if its a card or a phone??

[txtmax4]

i think we are going in circles...
1) today there are physical cards, so you can have many types of cards that a bank will target to different individuals i.e. someone who flies continental will like a co card, if i like hilton hotel i'll get hilton credit card etc. (i'm talking about normal people, not DDR's   if people wont use physical cards, than that wont be an option.
2)there is no reason a store cant support NFC processing like they do cc today

1) Instead of different cards they will be different "lines of credit".
2)That will take decade/s. Think South America, Eastern Europe, New Mexico...

[arie]

1) Instead of different cards they will be different "lines of credit".
2)That will take decade/s. Think South America, Eastern Europe, New Mexico...

you may be right. i just think that the association of different reward programs to credit cards, has a lot to do with you getting a physical card in the mail that has that specific brand on the card.

[txtmax4]

you may be right. i just think that the association of different reward programs to credit cards, has a lot to do with you getting a physical card in the mail that has that specific brand on the card.

That might very well be true, but we'll worry about it in 2030 how about.

[arie]

That might very well be true, but we'll worry about it in 2030 how about.

technology is moving very quickly. remember, only five years ago there was no such thing as an iphone

[txtmax4]

technology is moving very quickly. remember, only five years ago there was no such thing as an iphone

Have you ever been out of the US/Canada?

[arie]

Have you ever been out of the US/Canada?

i get your point, but there some areas in the world that still dont have electricity. that doesnt stop the western world from advancing and outgrowing old technologies. so while some places might still have old tech like credit cards, we may be way ahead of that in the not so distant future.

[txtmax4]

i get your point, but there some areas in the world that still dont have electricity. that doesnt stop the western world from advancing and outgrowing old technologies. so while some places might still have old tech like credit cards, we may be way ahead of that in the not so distant future.

So we won't be able to purchase anything with credit in Guatemala? Obviously we will, with plastic.

[arie]

So we won't be able to purchase anything with credit in Guatemala? Obviously we will, with plastic.

was never in Guatemala, but i doubt there are too many places there that accept cc anyway. so i guess cash or travelers check should work

[txtmax4]

was never in Guatemala, but i doubt there are too many places there that accept cc anyway. so i guess cash or travelers check should work

CC is quite popular anywhere now, I'ts how the world will look in 2030 when NFC finally makes it everywhere.

[AsherO]

So the FTC/FCC/Justice dept. etc. won't let Google buy Sprint outright, so instead Google will use Sprint as its guinea pig...

[Chaikel]

So the FTC/FCC/Justice dept. etc. won't let Google buy Sprint outright, so instead Google will use Sprint as its guinea pig...

After Google buys the government, that will less of a problem