How many use digital pay

[lappir]

A local Mexican Restaurant gives a 5% discount for cash. Not sure if the menu prices increased before that or not. 

For those who use a card for the "Cash Back", where does that money come from?  

It's not really cash back. We all pay more for things because as smart as some of us are we still do not realize that there is nothing made bought and sold that is ever truly free. Someone had to put in the hours, the material and the effort to make it. Why would anyone ever expect it to be free? 

Support your local small businesses so they can keep what you need in stock when you need it. (or want)

I spent all day yesterday looking for a genset. Sure there were some, but in the end I could not make a purchase. Believe it or not no one offered to order one in for me either. I went to Ebay. 

Rod

Rod

[Bill Joyce]

We just did a one week car and motel trip for Christmas and ate at many restaurants mostly for lunch.  One in Blythe CA charged $3.50 to use a credit card and had about the same prices as other similar restaurants.  A Chinese place in Indio CA was the cheapest of the trip, $7.50 to $8.25 for huge lunch plates and about everyone was paying with their phone or with a credit card.   

[rickeieio]

1 hour ago, Kirk W said:

Could you share some examples?

Several restaurants and small businesses around us take only cash or check.  We've run into a few campgrounds taking cash or check only too.

When I was still working, I sometimes would take a salesman to a restaurant that didn't take plastic, then watch them squirm when the bill came.  After I paid, they usually gave me better prices on their wares.  When you're placing orders for $30k-$40k of seed, that can add up.

[Kirk W]

1 hour ago, lappir said:

For those who use a card for the "Cash Back", where does that money come from?

Actually, in businesses that charge the same for cash, check, or cards that cash back comes from everyone and cash customers help more than card users do. Since I do carry cash, I use it when or if a business gives me a discount but only then. In this area a discount for cash or a surcharge of cards is a very rare thing.

Edited January 1, 2023 by Kirk W

[GlennWest]

Wearing masks and using cash. It likely germ infested. Sorry. Had to say it

[docj]

On 12/30/2022 at 11:20 AM, GlennWest said:

Well more i research digital pay it sounds like a great thing but not wildly used.

If you include both "card tap" and "pay with phone" in the category of digital pay those features are becoming increasingly accepted.  Both use "virtual credit card numbers" so they should be equally secure.  Here's what VISA says about the issue:

Tapping to pay with your Visa contactless chip card or payment-enabled mobile/wearable device is a secure way to pay because each transaction generates a transaction-specific, one-time code, that is extremely effective in reducing counterfeit fraud.

It might be worth noting that when using my phone for electronic transactions, the phone has to be "unlocked".  Since both our phones have fingerprint and/or facial recognition enabled as a locking mechanism, that provides a reasonable deterrent for unauthorized use, even if the phone were to be lost.  But as someone else already noted, it's far more likely that you'd notice a missing phone than you would a missing credit card. 

One thing I like about using digital payment is that I get an electronic "receipt" for every transaction which I find useful if I want to make a return.  There's no longer a need to save paper receipts

One thing that I didn't see mentioned in this thread is the use of "credit card alerts" to warn me of the use of my cards.  I have the alerts set for a threshold of $1 so I am alerted to any use of any card (including our debit cards).  I get a text message within seconds of making a transaction.   Some people might get bothered by all those text messages, but I find them reassuring. 

Only once in my recent memory, did such a message alert me to an attempted fraudulent transaction, but that one time it allowed me to report the fraud to the credit card company long before the transaction had cleared.  The card was immediately canceled and a new one was in my hands in a matter of days.

I use a credit card for virtually everything we purchase;  I detest getting change back from a transaction and then carrying it around in my pocket for days or weeks until I make another cash transaction.  

 

Edited January 1, 2023 by docj

[GlennWest]

I started having back problems years ago. Right hip area. Doc says billfold. Lost it and never looked back. So use only card now. No more back problem either. Going to give this digital pay a try. 

[RV_]

2 hours ago, docj said:

I use a credit card for virtually everything we purchase;  I detest getting change back from a transaction and then carrying it around in my pocket for days or weeks until I make another cash transaction. 

X2

[Kirk W]

3 hours ago, docj said:

One thing that I didn't see mentioned in this thread is the use of "credit card alerts" to warn me of the use of my cards.  I have the alerts set for a threshold of $1 so I am alerted to any use of any card (including our debit cards).  I get a text message within seconds of making a transaction.   Some people might get bothered by all those text messages, but I find them reassuring.

That is also what I have done. I also have my debit card set that same way. 

[chiefneon]

Howdy!

 I read up and digital pay a few months back and decided to use it. It seems as mentioned to be more secure using it in public venues. I have it set up on my Apple phone and watch but use the watch more. It came in real handy mot long ago as wife and I were out eating. She was on churches do to a recent fall did not have her purse and I forgot my card carrier. Thank goodness they had Apple Pay. We have had to can and get new debit and credit cards several time do to fraud. I now use digital Apple Pay every ever it’s available.

” Happy Trails “

Chiefneon 

Edited January 2, 2023 by chiefneon

[hemsteadc]

I use Google pay  backed up by Amex all the time.  Cash is good for campgrounds, small purchases like coffee, slot machines, and tipping. 

A $10 or even $20 cash tip to a Lyft driver just makes their day.  I take great pleasure in doing something really nice for strangers. I've even given "out of gas" beggars cash.  Sorry, I'm not bragging at all, just expressing how I think about how fortunate I am to be able to do this without having to worry about whether I can afford it.  And cash is the way to do that.

Happy New Year! 

.

.

Edited January 6, 2023 by hemsteadc

[durangodon]

1 hour ago, hemsteadc said:

just expressing how I think about how fortunate I am to be able to do this without having to worry about whether I can afford it.

I admire you for that. 

After scrimping and scratching my whole life, now that I'm financially comfortable I find it difficult to share sometimes.  I've been trying to do more of what you're doing in my old age, but it so goes against my lifelong habits of frugality.  🙂

[Dutch_12078]

On 12/31/2022 at 7:02 PM, lappir said:

I thought I had gotten away from checks till last summer working at my brothers Shop. Credit cards and Debit cards were charging a fee of 3.95% for the convenience of using the card. The "Farmers" who used to use their card all the time switched back to checks and so did I. Most of the "City Slickers" could care less about the extra charge on their card. I try to pay cash to all the Mom and Pop stores I visit. I also always tip in cash. 

 

Rod 

If he's paying 3.95%, he's getting ripped off. SquareUp, the company that supplies those little square card readers that plug into a cell phone among other terminals, charges 2.6% + 10¢ per swipe for Visa, Mastercard, Discover, and American Express. If your business doe more than $250K annually, you may qualify for an even better deal.

[Dp26]

2 minutes ago, Dutch_12078 said:

If he's paying 3.95%, he's getting ripped off. SquareUp, the company that supplies those little square card readers that plug into a cell phone among other terminals, charges 2.6% + 10¢ per swipe for Visa, Mastercard, Discover, and American Express. If your business doe more than $250K annually, you may qualify for an even better deal.

Anyone paying a flat rate for all cards is getting ripped off (needs to shop around).  The corporate cards and the high reward cards cost merchants more to process.  Debit cards are cheap to process.   Even in my case, MOTO merchant (never swipe) the type of card can have a drastic difference in the fee (I use a service which is interchange + ), rather than any particular flat amount per card or card type.

I have not looked at any of the plug into phone readers, but I suspect they may advertise 2.6+.10, but they have exceptions for more expensive cards.  Even that rate is robbery, as you can get 1.99+fee for swipes from many good outfits with little trouble.

One also MUST look at what they charge for AVS, refunds, charge backs, investigations, monthly fees, equipment fees, no CVV, etc.  There is simply no "fair" pricing which is a flat rate for all cards.  Can ALWAYS be done cheaper with a "real" processor.

V/M/A/D won the fight, keep it complicated, and make great money.

[Kirk W]

15 hours ago, hemsteadc said:

just expressing how I think about how fortunate I am to be able to do this without having to worry about whether I can afford it. 

14 hours ago, durangodon said:

After scrimping and scratching my whole life, now that I'm financially comfortable I find it difficult to share sometimes.

I must agree with what each of you are saying. After working hard to save for the future and retirement, it can be difficult to realize that the future is here and we made it! 

[Dutch_12078]

12 hours ago, Dp26 said:

Anyone paying a flat rate for all cards is getting ripped off (needs to shop around).  The corporate cards and the high reward cards cost merchants more to process.  Debit cards are cheap to process.   Even in my case, MOTO merchant (never swipe) the type of card can have a drastic difference in the fee (I use a service which is interchange + ), rather than any particular flat amount per card or card type.

I have not looked at any of the plug into phone readers, but I suspect they may advertise 2.6+.10, but they have exceptions for more expensive cards.  Even that rate is robbery, as you can get 1.99+fee for swipes from many good outfits with little trouble.

One also MUST look at what they charge for AVS, refunds, charge backs, investigations, monthly fees, equipment fees, no CVV, etc.  There is simply no "fair" pricing which is a flat rate for all cards.  Can ALWAYS be done cheaper with a "real" processor.

V/M/A/D won the fight, keep it complicated, and make great money.

Their published base rate is for Visa, Mastercard, Discover, and American Express cards. I haven't seen the fine print though, so there may be more to it of course. I do know of several businesses that have switched to SquareUp from their previous processors in the past few years. Square up is also quite popular with Amish business people I understand.

[lappir]

13 hours ago, Dutch_12078 said:

If he's paying 3.95%, he's getting ripped off. SquareUp, the company that supplies those little square card readers that plug into a cell phone among other terminals, charges 2.6% + 10¢ per swipe for Visa, Mastercard, Discover, and American Express. If your business doe more than $250K annually, you may qualify for an even better deal.

I'll let you tell him that. 

I've seen and sometimes have used the Square up things, but am starting to limit my card use overall. 

I'll still use my card or cards for fuel, gas, groceries, large purchases and for meals at work, but if I know what an item costs and I have the ability to draw out the cash, I'll spent the extra time and gas money to do it. Especially if it's a local business vs a big box or national brand. 

Rod