Originally Posted by
AllieKat
CDCVM would only apply if the OP used a mobile wallet.
I tend to assume that a mobile wallet is used if a US card is used with contactless simply because the feature is still relatively uncommon.
Originally Posted by
AllieKat
Hopefully Staples manages to hang on somehow in the US, it can be handy. Here in the UK they got bought and the company that's bought lots of other failing businesses (Hilco) has rebranded them as Office Outlet. That said, I doubt those will last long either. They're in the business of taking what's profitable and shutting down the rest (though they have kept some HMVs open).
In the US, I know Staples is rapidly downsizing to avoid this fate. Missoula, MT went from two large Staples to one mini Staples. But is that enough to save a concept that's outdated?
I think Staples mostly hangs on due to purchase agreements with various companies. I know we were required to buy certain things from there for a while, for example.
Originally Posted by
mikesyr18
I doubt it, especially with the younger generations. Yes, debit cards used to have rewards (a few still do such as Paypal, Discover, and USAA) but if people were really using them for the rewards, they would have stopped using them shorty after Durbin and Dodd-Frank went into law.
From
here:
When presented with the question: “When given a choice, what payment form do you prefer?”, 40 percent selected credit, while 35 percent selected debit and 11 percent selected cash.
Of course, that in itself doesn't say why credit's become the most popular but the study also says that the credit number's the "highest seen since 2007".
Originally Posted by
mikesyr18
As long as interchange fees on debit cards remain too low to realistically support rewards for the larger financial institutions and credit unions, I don't see that type of incentive to push contactless use in the U.S. It works with credit cards because the interchange fees are higher so they can support giving a bonus for contactless use.
It could easily be something as simple as "use a mobile wallet X number of times and get your checking account fees waived". The rewards don't have to be cash back per se, though it works out to an extra $y per month for the person who doesn't have much in their account.