Coronavirus

[Randy Parker]

Think about all of the people who touch the credit card machine in just one checkout line at Walmart.

 

I never touch it. Just insert the card & it approves the transaction.

[PurplePride92]

I never touch it. Just insert the card & it approves the transaction.

 

I usually have to punch in my passcode.

[nkypete]

I've switched to mostly Apple Pay myself and I'm 59. I wish more places had the equipment to process Apple Pay. No cash. No credit card.

[Randy Parker]

I usually have to punch in my passcode.

 

Ours has that little chip where you just stick it in and it does its work.

 

That's what she said.

[JDEaston]

Credit card machines are just as dirty as cash. If not dirtier.

 

I've been using Samsung pay to avoid contact with the machine as much as possible. Generally I'd enter my pin and run the transaction as debit, but lately I've been running everything as credit so I only have to touch the screen once.

[theguru]

As older generations pass on, banking will change drastically and we'll see far fewer brick and mortar financial institutions, IMO.

 

Exactly, just like brick and mortar educational institutions.

 

This is going to fundamentally change America and in many cases put the majority of workers in some institutions out of work.

[JDEaston]

I've switched to mostly Apple Pay myself and I'm 59. I wish more places had the equipment to process Apple Pay. No cash. No credit card.

 

I've found that with Samsung pay if the merchant doesn't have a newer machine that that uses rfid to read the phone you can actually hold the phone near the magnetic swipe reader and it will work. Not sure if Apple pay is the same or not.

[Randy Parker]

Just saw this on The Facebooks.

 

If COVID-19 played baseball:

 

[TheDeuce]

Exactly, just like brick and mortar educational institutions.

 

This is going to fundamentally change America and in many cases put the majority of workers in some institutions out of work.

 

Using banks as an example, just because people aren't physically coming into a bank doesn't mean the need for the same amount of staff would go away. They would move to back office positions utilizing phones and computers to help customers with transactions.

[theguru]

Using banks as an example, just because people aren't physically coming into a bank doesn't mean the need for the same amount of staff would go away. They would move to back office positions utilizing phones and computers to help customers with transactions.

 

Maybe at first, but in quick order there would be less need for human beings as banking becomes more automated.

[TheDeuce]

Maybe at first, but in quick order there would be less need for human beings as banking becomes more automated.

 

Not quickly, no. :lol2:

[theguru]

Not quickly, no. :lol2:

 

Once the system is successfully in place I would say the need the for human workers drops 75% overnight.

[rjs4470]

Exactly, just like brick and mortar educational institutions.

 

This is going to fundamentally change America and in many cases put the majority of workers in some institutions out of work.

 

Every action has an equal and opposite reaction. While automatization may eliminate some jobs, those new processes often create other jobs.

[TheDeuce]

Once the system is successfully in place I would say the need the for human workers drops 75% overnight.

 

Then why hasn't it already dropped 75%? Because there have been great strides in technology in banking in just recent years.

[nkypete]

I've found that with Samsung pay if the merchant doesn't have a newer machine that that uses rfid to read the phone you can actually hold the phone near the magnetic swipe reader and it will work. Not sure if Apple pay is the same or not.

 

Pretty much works the same way.