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Senior writer for Wired, Steven Levy, explains how cashless payment at Starbucks will evolve through a new deal with Square, and what it means for commerce and the consumer experience.
Oh good grief.. Facebook won't get into surveillance face recognition stuff? The CIA and FBI fund Facebook!
Who doesn't have smart phones? I see 10 year olds with them, people in housing projects. I think the only people who dont are people like my parents and I'm sure they are happy to pay in cash.
Square only takes 2.75% from merchants, which is lower than most other processing companies. So everyone is happy to absorb it.
What does this say about privatizing a public system like money/cash? Are we surrendering our privacy?
Your guest contradicts himself, one minute he says it's safer than credit cards, but then he says credit cards are protected.
So what Square is really about is tracking up more. And what happens when the Obama and administration or other Republicrats demand that Starbucks and other retailers surrender information on our purchases and travel? The telecoms and Google have completely rolled over on government intrusions into our privacy.
"Improve the user experience." Not to be cynical but I'm pretty sure the bigger incentive is more money for the vendor. People tend to spend more when they use plastic instead of cash.
Cash is king!!
This sounds like another thing to worry about. URGH. What about a poor person who has no cell phone??
how will no cash affect tips for baristas, waitstaff? Will hourly wages be adjusted to offset?
No this guy has it all wrong. The Square app has a TAB button you have to press. It's like a check in. I already use this app to pay for things.
Jesus Christ...how much Kool Aid are people expected to drink? People have nothing to fear from George Orwell, they are willingly building Big Brother themselves. This segment, and this Wired guy's enthusiasm for it, makes me want to dry heave.
How is it safer than handing over cash...
I completely understand improving transactions but cash offers privacy. We cannot ever lose that. Secondly given our recent and long history with a culture of credit issues, could this be detrimental to the idea of spending only what you have? Physical money means something, sometimes it's the media not the message.
What about tipping? What about cash-only busineses, which abound? What about all the data that will be collected on us? What about this electronic money being easily frozen and taken out of our control? Etc? Nah.
Future? The South Koreans and others, have been doing this for years.
Anything to release the monopoly of visa/master card and big banks is a good thing.
How do they handle twins?
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