Looks like Samsung and Visa have rolled out a new peer-to-peer payment based on NFC between two individuals and their phones. You do need a Visa (debit I think) but supposedly works with iPhone and Pixel phones. Claims no PII is exchanged and since it's processed over the Visa payment network no need for the receiver of the funds to know anything more than the transaction token number.
But it must be a face to face so not sure it changes a lot of people's view of cash is king but seems to be a topic that comes up enough to mention.
Only Samsung can pay but iPhone (Apple Pay) and Google Pay can receive as long as they have a Visa card installed. But I also think it requires a debit, not credit, card.
Seems like there will be less traceability than other payment tools that directly link to a bank account given a transaction token is used that will mask the underlying card account. Not sure if that will be reciprocal for the receiving account but suspect so given it's also a phone wallet with the card install and all the wallet (to my knowledge) had to generate/use a token for payments. Bigger question might be how the transaction log lists the transaction. I suspect that will be configurable on the phone -- like how you can name the phone in settings but not sure.
Interesting future might be the integration of cyber currencies in to the payment -- as I think VIsa has started to process bitcoin based transaction -- or is planning to -- so the payment infrastructure might well be present.
I have used Cash App many times in SB/ SD set up. It's not NFC so you could be in the other corner of the country and it will work. Cash App also doesn't require you to disclose your real identity like Venmo. You can have a handle. This way you can stay anonymous to an extent.
Both Samsung and Cash App option will create paper trail. So they cancel each other out when it comes to that. Also one would have to have Samsung product to use this.. Other Android models won't work. iPhone definitely won't work.
This is really not all that good a technology if it has so many limitations. It's good for Samsung to create its own ecosystem, but they are no Apple. They are just trying to emulate Apple.
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