Author: Mike Hearn 2014-03-10 16:04:02
Published on: 2014-03-10T16:04:02+00:00
I just experienced my first contactless NFC payment via a MasterCard, which worked well and left me wanting to use it more in the future. However, after further attempts, I found that the experience is not always positive, with a ~75% failure rate based on my usage. The main issue is that merchants often require minimum payment sizes for credit card transactions, which limits the effectiveness of the touch-to-pay system. The PIN-less mode only works for payments below a certain threshold, likely around 30 CHF, and there is a very narrow price range where it actually functions properly. Most of the time, cards are rejected due to small payment amounts, merchants lack the necessary hardware, or a PIN is required for larger purchases. This experience has led me to believe that Bitcoin may offer a better solution.
Updated on: 2023-06-08T04:08:25.043018+00:00