[Osiris]

What I find the most fascinating is that the same company is running both the seller and buyer sides of the transaction. Without middlemen, they have a lot of flexibility to determine how the transaction should occur. Right now credit cards rely upon a fairly complex system of gateways and processing and so it's really complex and difficult to change the process.

I wonder if a security feature they could add would a two-factor authentication where your phone would display a one-time use auth code that you'd give to the cashier to approve the transaction, for those that are worried about automatic billing.

[patio11]

Rather than attempting to have minimum wage employees and average netizens understand what one-time use auth code means, how about we just pop a window on their phone saying "Krispy Kreme wants to charge you $5. Hit the big green button."

[abraham]

People understand debit card pins just fine. As long as they get labeled as such there won't be any confusion.

[jakeonthemove]

Exactly, that's simply amazing and a great business model, as well. If they end up like Paypal (I mean huge, not terrible :-)), it'll be pretty easy for everyone involved to send and receive payments...

[naveen99]

i get alerts from chase within 5 minutes of using my credit card. Now if only that would ask my approval before paying, that would be even better. But what are you going to do about merchants billing you incorrectly anyway and sending you to collections or ruining your credit for not approving the transaction ?