[DrewAllyn]

I'm a Canadian who is temporarily in the US, and it seems so backwards to me. A signature? You mean writing on a piece of paper that probably never gets looks at allows someone to take money out of my bank account? Chip+Pin at least has a semblance of technical security.

And cash? Don't get me started. Cash can be physically lost. Cash can be stolen. When you pay with cash, you get given coins as well as the thing you are buying. Coins suck. To me, cash makes less and less sense these days. In Canada, I never carry any. In California there are enough cash only places (in 2014!) that I have some at most times.

I will probably not know it when I see it, but I look forward to the last day I touch cash.

[AYBABTME]

This, I'm living exactly the same situation right now.

Last time I came to the US, I realized my cards' magnetic bands weren't working. Would have never noticed otherwise, chips don't wear off. Had to prepare for new cards before my next trip. Chips came so long ago in Canada that I can't recall when. My surprise every time I remember they're still not here.

Then cash only places and having to receive coins; the worst. And then what do you do with the coins, hope that one day you'll get the chance to use them? That never happens. You must accumulate coins in your pockets. Accumulate discomfort and never dare throwing them away. And what's up with cents, what do you buy with a cent?

Back in Canada, all I carry is a debit/credit card (wink) and a health insurance card (wink).

[pyre]

> Chips came so long ago in Canada that I can't recall when.

I left Canada in 2008, and I don't remember chip & pin being prevalent as it is now, so it's not quite as "long ago" as you are implying.

But... you might have issues carrying just a credit card. Many places only accept debit due to there being smaller merchant fees and there are still many cash-only places (in Toronto at least).

And seriously? When I end up with cash / change in my pockets I end up using it. Your comments about "OMG! What do I do with physical money?! It's sooooo useless" are a bit hyperbolic.

[AYBABTME]

Yeah the hyperbolism was on purpose. =P

[bokonist]

And then what do you do with the coins, hope that one day you'll get the chance to use them?

You dump the coins in a change jar on top of your dresser. Then once a year or so, when you have accumulated $100 in coins, you bring the jar to a coinstar machine at your local supermarket and get the coins converted to an Amazon gift certificate.

[chiph]

I have an algorithm for minimizing my coin count. When I buy a soda or snack from a machine, I put the smallest denomination coins in first (nickles) and then work my way up (dimes, then quarters) until I have put enough money in to make my purchase. The machine gives me change, and as long as the item costs at least 25 cents (a practical certainty!), I'm sure to have fewer coins in my pocket afterwards.

[bostik]

> chips don't wear off

The chips may not, but the contact surfaces corrode. Then, when you're facing a slightly aged payment terminal with also corroded contacts, your card gets rejected no matter what you do.

So from my view, NFC in phone has two things going for it: it can be toggled on and off, effectively preventing drive-by cardjacking; and it is better protected from elements.

The fact that I have other personal reservations about contactless payments is different matter altogether.

[Serow225]

Pencil erasers do a great job to clean these type of contacts :)

[gambiting]

>>Would have never noticed otherwise, chips don't wear off.

Oh that's so not true. I keep my cards in my pocket and I already had to replace a few due to the fact that they wouldn't be recognized at terminals anymore. And I am a huge supported of chip+pin.

[fla]

Same thing here (but in Europe). I wonder if Apple Pay will really get some momentum here.

[chmars]

I am optimistic. Today, I have to remove my credit card from my wallet to hold it close to the card terminal, in the future my iPhone will be sufficient …

[tallowen]

These conclusions are surprising to me. I grew up in the states and lived in Canada for 4 years.

Though I agree with the lack of security offered by a signature, that method of payment is basically offered everywhere in the US. Compared to Canada its uncommon to be asked for a 5 dollar minimum purchase or a 50 cent surcharge for a credit card transaction. Furthermore, the credit limits in Canada seemed downright restrictive.

Say whatever about the security of credit cards in the US but as a consumer the product is much more compelling. I can go almost anywhere, rarely pay extra fees and easily spend all of my own money. Furthermore, why would I care about a signature? Yes its antiquated but who cares if its never used, I can charge back fraudulent charges pain free in the US which has not been my experience in Canada.

Basically, I think the user experience of paying money is really important, but chip and pin doesn't solve that problem.

[DrewAllyn]

I've found that the places that typically charge fees or have minimums in Canada are the tiny asian restaurants run by immigrants, and the small corner stores. Similar places in the US are the ones I find that take cash only a lot of the time.

Credit limits in Canada start out restrictive, yes, though I've generally found that if you ask for a higher limit, they will generally grant it. I've had good credit though. That probably makes a difference.

I've been lucky enough to never need to do a chargeback in Canada or the US. Maybe it's not easy in Canada.

[exelius]

The signature is for identification after the fact. So if someone steals your card, the credit card company can look at the signature for that transaction versus 10 other signatures for valid transactions and quickly know if it was your signature or not.

That said, I don't think we will ever live in a cash-less world. There are too many merchants for whom any technology is too much. Also, a lot of merchants don't want to pay credit card processing fees (which I expect don't go away with this system) and still others like to cheat on their taxes and running a cash business makes that easier.

[eddieroger]

I used my swipe-only American Visa when I was in London, and was looked at like a neanderthal. Cards are easily stolen, signatures are easily forged, but my thumbprint is pretty much only mine (yes, it can be tricked, but you still have to get it somehow). I welcome two-form, and loathe Visa and MasterCard for holding it up as long they have in the States.

[sp332]

Someone hacked Target and Home Depot POS systems recently and stole millions of credit card numbers. I really don't want someone doing that to my thumbprint. I can always get a new CC# but I'm stuck with the thumbs I've got.

[eddieroger]

Is that meant to be a real reply? I'll answer it like it is, giving you the benefit of the doubt - your thumbprint is only used to unlock the data store on the device, where the credit card token is kept. Note token, not actual credit card number or CVV code. The data stolen from Target and Home Depot was the real number, where ApplePay will use a one-time token, so even if it's stolen, it's useless once the transaction is complete. But that wasn't a real reply, was it?

[sp332]

Thanks, I had no idea why you were talking about thumbprints.

[headShrinker]

I stopped signing a long time ago. Now I scribble, draw pictures, whatever.

[spacefight]

You mean like this guy? :)

http://www.getrichslowly.org/blog/2006/07/29/the-credit-card...