Tap cash

bubblebrain8

bubblebrain8

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Why at a till (point of sale) can you only withdraw cash if you have a physical card that you then need to insert into the card machine. Why can't a person just tap?
 
bubblebrain8 said:
Why at a till (point of sale) can you only withdraw cash if you have a physical card that you then need to insert into the card machine. Why can't a person just tap?
Click to expand...
It's frustrating. I have a magsafe wallet I keep my checkers card and a couple debit cards. It lives in the car just for cashback situations.
 
Sorry, meant to post this link. Not sure why the music video pasted. Here is a thread on the same topic.

Can I get cash back at a till if I use a NFC-enabled phone to pay?

I basically never carry cash around any more, but always withdraw a bit of cash when I pay to tip the car guards at the shopping centre. Whenever I do this I have to insert my card and put in my pin. Now I am very keen on making sure my next phone has NFC so that I don't have to carry my bank...
mybroadband.co.za mybroadband.co.za
 
RedViking said:
Sorry, meant to post this link. Not sure why the music video pasted. Here is a thread on the same topic.

Can I get cash back at a till if I use a NFC-enabled phone to pay?

I basically never carry cash around any more, but always withdraw a bit of cash when I pay to tip the car guards at the shopping centre. Whenever I do this I have to insert my card and put in my pin. Now I am very keen on making sure my next phone has NFC so that I don't have to carry my bank...
mybroadband.co.za mybroadband.co.za
Click to expand...
Here I am, playing the music video at half speed trying to decipher a hidden meaning...
 
SauRoNZA said:
Someone here explained it at some point, think it may have been @Mike Hoxbig
Click to expand...
Think that was the debit vs credit card debate. For this there's no technical reason why it can't be done. It's about relationships and liability.

The larger retailers that offer cashback use third party aggregators or "switches", and have accounts with each of the banks. The aggregators basically acquire transactions for the merchant, and pay into whichever bank account the merchant prefers based on various rules (hence "switch").

These aggregators are the ones who provide the card machines, which need to be integrated to the merchant's POS systems (those little computers). The capability to implement the functionality sits with them.

Now since the merchant has accounts with various banks, and relies on the aggregator to settle into whichever account based on whatever rule, there's no bank that can accept liability, since the merchant is using a third party to acquire transactions.

The relationship would therefore be between the merchant and the aggregator. And between the 2 of them, they would have to agree on who accepts liability in the event of fraud, and based on that they decided not to implement NFC for cash withdrawals. If something should change in their relationship, they might decide to do it later.

This is why the banks are happy to implement NFC on their ATMs, because they're happy to accept liability for their own cash...
 
Mike Hoxbig said:
Think that was the debit vs credit card debate. For this there's no technical reason why it can't be done. It's about relationships and liability.

The larger retailers that offer cashback use third party aggregators or "switches", and have accounts with each of the banks. The aggregators basically acquire transactions for the merchant, and pay into whichever bank account the merchant prefers based on various rules (hence "switch").

These aggregators are the ones who provide the card machines, which need to be integrated to the merchant's POS systems (those little computers). The capability to implement the functionality sits with them.

Now since the merchant has accounts with various banks, and relies on the aggregator to settle into whichever account based on whatever rule, there's no bank that can accept liability, since the merchant is using a third party to acquire transactions.

The relationship would therefore be between the merchant and the aggregator. And between the 2 of them, they would have to agree on who accepts liability in the event of fraud, and based on that they decided not to implement NFC for cash withdrawals. If something should change in their relationship, they might decide to do it later.

This is why the banks are happy to implement NFC on their ATMs, because they're happy to accept liability for their own cash...
Click to expand...

Yeah I seemed to remember it all came down to liability just couldn’t remember the exact details.

Thanks for the explanation.
 
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