URGENT: The End of Traditional Credit Cards is Coming…

Тәжірибелік нұсқаулар және стиль

Credit cards will NEVER be the same if Visa does THIS! Are you (and your wallet) ready for the future of credit cards? Learn all the details here! Click “Show More” to see Ad Disclosure.
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Visa announced on May 15, 2024 that major changes to how credit and debit cards will operate in the U.S. in the coming months and years are on their way. The new features could mean Americans will be carrying fewer physical cards in their wallets, and will make the 16-digit credit or debit card number printed on every card increasingly irrelevant. They will be some of the biggest changes to how payments operate in the U.S. since the U.S. rolled out chip-embedded cards several years ago. They also come as Americans have many more options to pay for purchases beyond “credit or debit,” including buy now, pay later companies, peer-to-peer payment options, paying directly with a bank, or digital payment systems like Apple Pay.
The biggest change coming for Americans will be the ability for banks to issue one physical payment card that will be connected to multiple bank accounts. That means no more carrying, for example, a Bank of America or Chase debit card as well as their respective credit cards in a physical wallet. Americans will be able to set criteria with their bank - such as having all purchases below $100 or with a certain merchant applied to the debit card, while other purchases go on the credit card.
Other new elements are also in response to features that non-payments companies have rolled out in recent years. The Apple Card, which uses Mastercard as its payment network, does not come with a printed 16-digit account number and Apple Card users can request a fresh credit card number at any time without having to dispose of the physical card. Visa executives see a future where banks will issue cards where the 16-digit account number, if the new cards come with them, is largely symbolic.
Among the other updates unveiled by Visa are changes to tap-to-pay features. Americans will be able to tap their credit or debit cards to their smartphones to add the card to mobile wallets, instead of using a smartphone’s camera to scan in a card’s information, or tap the card to their smartphones to approve a transaction online. Visa will also start implementing biometrics to approve transactions, similar to how Apple devices use a fingerprint or face scan to approve transactions.
Disclosure: The thoughts, opinions, and information presented are those of the creator. This site is part of an affiliate sales network and receives compensation for sending traffic to partner sites, such as CreditCards.com, YourBestCreditCards.com, Biltrewards.com and others. This compensation may impact how and where links appear on this site. This site does not include all financial companies or all available financial offers. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. Mark Reese is not a financial advisor.
#creditcards #creditcard #creditcardprocessing

Пікірлер: 531

  • @MarkReese
    @MarkReeseАй бұрын

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  • @CharlesJackson-tt7ve

    @CharlesJackson-tt7ve

    Ай бұрын

    you are a fool.

  • @NoahTheodoris-yp4rp

    @NoahTheodoris-yp4rp

    Ай бұрын

    I have a question, how are you able to apply and have so many credit cards with high limits and get approved each time, but for me after I have 5 credit cards and there was around 5-10 hard inquiries under my transunion, even though I had a 829 credit score, I started to get denied from every bank for multiple cards

  • @MarkReese

    @MarkReese

    Ай бұрын

    @@NoahTheodoris-yp4rp - I got my cards over 10+ years. What's your timeframe?

  • @NoahTheodoris-yp4rp

    @NoahTheodoris-yp4rp

    Ай бұрын

    @@MarkReese On Credit Karma (transunion) it says 100% payment history, 3% credit utilization, 0 derogatory marks, 18 hard inquiries, and my credit history is 17 years and 10 months. It says I have 8 open accounts and 27 closed. The closed accounts have all been in the past 6 months. Current score is 829, but all of the cards credit karma suggests are saying poor chance of approval, not only that but it said to avoid new applications for 3-6 months

  • @NoahTheodoris-yp4rp

    @NoahTheodoris-yp4rp

    Ай бұрын

    @@MarkReese On credit karma it says my credit age is 17 years and 10 months, credit score is 829, credit utilization is 3 percent out of 100, 100 percent payment history (no missed payments), 0 derogatory marks, and 20 hard inquiries.

  • @c50grand2
    @c50grand2Ай бұрын

    All computer hackers around the world are smiling and rubbing their hands together, because VISA is gonna be a hacker’s paradise!

  • @MarkReese

    @MarkReese

    Ай бұрын

    I bet they are 😬

  • @Ollie__Tabooger

    @Ollie__Tabooger

    Ай бұрын

    "rubbing their hands together" OyVey!!! LOL!

  • @Gameboyreaper

    @Gameboyreaper

    Ай бұрын

    We will be alright. Only handful of them will be able to keep up with new technology inbound and most of them will have to do something else.

  • @user-pr4oq4mm7p

    @user-pr4oq4mm7p

    Ай бұрын

    That's the point. And, that can be what evil wants to do.

  • @MarlonOwnsYourCake

    @MarlonOwnsYourCake

    Ай бұрын

    Remember when they killed the coin card in 2017?

  • @anomaly2990
    @anomaly2990Ай бұрын

    So instead of one bank card getting hacked, all my accounts get drained. No thanks.

  • @MarkReese

    @MarkReese

    Ай бұрын

    Crazy 😬

  • @imzjustplayin

    @imzjustplayin

    Ай бұрын

    Yeah but having a credit card stolen isn't a huge deal compared with a bank account.

  • @beverlyaustin924
    @beverlyaustin924Ай бұрын

    The moment corporations and gov say its for our safety... RUN!

  • @MarkReese

    @MarkReese

    Ай бұрын

    😬

  • @kennyj204

    @kennyj204

    Ай бұрын

    This new card is safe and effective.

  • @LiqdBridge
    @LiqdBridgeАй бұрын

    I'd prefer not to. I don't want all of my banking info available on one card. All that info put into one point of possible failure? No thanks.

  • @MarkReese

    @MarkReese

    Ай бұрын

    Great point about 1 point of failure 👌

  • @mikelang4853

    @mikelang4853

    Ай бұрын

    And you know they going to try financial coercion for compliance.. “oh, you have views that oppose the current regime? Lol Let’s just shut your accounts down.. maybe we’ll even confiscate it.. “ The biggest frauds come FROM the banks themselves.

  • @brettdomenick

    @brettdomenick

    Ай бұрын

    And that’s different from a wallet? If anything it seems way easier to revoke credentials now since numbers are fully changeable

  • @azaril7780

    @azaril7780

    Ай бұрын

    ​​@@brettdomenick the problem is that it now means you have one big point of failure that's out of your control, if that single bank gets got, now all your accounts are at risk instead of just your credit card, imo it's better to have a few small points of failure rather than one big point of failure, think of it like this:Let's say you have four cars, and one key will get into all of them, that one key now becomes one big point of failure, as if it gets stolen, now all of your cars are at risk.

  • @sirrockefeller149

    @sirrockefeller149

    Ай бұрын

    lol how asinine.. and preaking sheeples lol

  • @alicerussell8182
    @alicerussell8182Ай бұрын

    I am absolutely sick of all the manipulation.

  • @MarkReese

    @MarkReese

    Ай бұрын

    👍

  • @kenthemodelx2315
    @kenthemodelx2315Ай бұрын

    This is a horrible idea Entire savings will be wiped

  • @MarkReese

    @MarkReese

    Ай бұрын

    Time to store it under the mattress 😆

  • @yxmichaelxyyxmichaelxy3074

    @yxmichaelxyyxmichaelxy3074

    Ай бұрын

    That is the goal. Wake up.

  • @AnotherBJK04
    @AnotherBJK04Ай бұрын

    Perfect! So now if I lose this one card, someone will have access to all of my Chase accounts? All 3 credit cards, both savings and checking? Instead of just the one card that I lost? I don’t see how this is better…..

  • @jimdiet8534

    @jimdiet8534

    Ай бұрын

    It's better for the new anointed do no wrong criminals.

  • @iwanttodie149

    @iwanttodie149

    Ай бұрын

    im going to end up killing myself in this country if this world keeps going in this directions

  • @BruceLeeCredit

    @BruceLeeCredit

    Ай бұрын

    Hopefully Amex stays far away from Visa's new bs.

  • @fredfinger7092

    @fredfinger7092

    Ай бұрын

    You don't see how it's better, because it's worse.

  • @MarkReese

    @MarkReese

    Ай бұрын

    Security better be the best in the world 😬 Good point.

  • @RedEyeC
    @RedEyeCАй бұрын

    Entering in your credit card number, exp. date, code - is a hassle?? How LAZY have we gotten??

  • @MarkReese

    @MarkReese

    Ай бұрын

    Very 😬

  • @markJones38133
    @markJones38133Ай бұрын

    Older adults don’t have the smart phones or know how to use all the features. Plus, I don’t use my phone to pay bills or shop.

  • @MarkReese

    @MarkReese

    Ай бұрын

    👍

  • @harrisonwarner6437
    @harrisonwarner6437Ай бұрын

    yeah, No Thanks, this is terrible

  • @nevets4190

    @nevets4190

    Ай бұрын

    no one cares

  • @iwanttodie149

    @iwanttodie149

    Ай бұрын

    @@nevets4190 lot of people care more than people who care if you are alive.

  • @HaveAHeartAnimalSanctuary

    @HaveAHeartAnimalSanctuary

    Ай бұрын

    @@nevets4190 bot

  • @MarkReese

    @MarkReese

    Ай бұрын

    👍

  • @harrisonwarner6437

    @harrisonwarner6437

    Ай бұрын

    ​Hey what's up?@@nevets4190

  • @kylewelch8697
    @kylewelch8697Ай бұрын

    Hate everything this is heading towards

  • @MarkReese

    @MarkReese

    Ай бұрын

    Convergence 😬

  • @erikthered4876

    @erikthered4876

    Ай бұрын

    @@MarkReese Remeber when senergy was used a lot... 🤣

  • @aaront936
    @aaront936Ай бұрын

    If I have to open an app to select which card I want and then have to swipe my card I'm going to be annoyed.

  • @Brianpeckin

    @Brianpeckin

    Ай бұрын

    Not even just that. What if your phone gets broken or stolen and you're not close to a place actually has a store for your phone but then again how you going to pay for your phone? Use that one car but then if you use that one card but you'll want to use a specific card on it. And how do you change that payment?

  • @MarkReese

    @MarkReese

    Ай бұрын

    😬

  • @KittyKat-vb1nd

    @KittyKat-vb1nd

    Ай бұрын

    All the complaints and why. You're not going to do anything but go along with it.

  • @mehmd1913
    @mehmd1913Ай бұрын

    Not interested in all of the "Technology" on the phone. Lose phone lose it all. Lose a card... lose a card. I'll stay with using the card...

  • @MarkReese

    @MarkReese

    Ай бұрын

    💯

  • @priestesslucy3299

    @priestesslucy3299

    Ай бұрын

    While you can

  • @danielmckinnon9627

    @danielmckinnon9627

    Ай бұрын

    😂

  • @Iloveturtles

    @Iloveturtles

    Ай бұрын

    You won’t have a choice except to close your account

  • @cjs2020th

    @cjs2020th

    Ай бұрын

    Well it can all be restored to a new device BUT still represents a single point of failure - for me ( especially now ) best to diversify your access to funds across as many different banks and access points as possible each separate from the other ! -

  • @jcmjcm1945
    @jcmjcm1945Ай бұрын

    Oh yay one credit or debit card linked to all accounts. Great way for scammers to take every single penny you have.

  • @MarkReese

    @MarkReese

    Ай бұрын

    Scary 😬👍

  • @candicosens8178

    @candicosens8178

    Ай бұрын

    Who do you think are scamming you? Problem the scammers hired to keep you from being scammed.

  • @numbone
    @numboneАй бұрын

    All this is leading to the mark of the beast chip in our hands

  • @plum4620

    @plum4620

    Ай бұрын

    The Devil isin’t reeaal

  • @jamesrecknor6752

    @jamesrecknor6752

    Ай бұрын

    @@plum4620 Yes he iiiiiiis

  • @MarkReese

    @MarkReese

    Ай бұрын

    Biology + technology get a little closer to merging 👌

  • @Milkinporsche
    @MilkinporscheАй бұрын

    If i have to do all these, I will have no choice but to cancel every single visa cards I have.

  • @MarkReese

    @MarkReese

    Ай бұрын

    😬

  • @eileeneclark9011

    @eileeneclark9011

    Ай бұрын

    5/31/24...WHEN YOU CANCEL A CREDIT 💳 CARD , IT LOWERS YOUR WHOLE CREDIT SCORE!

  • @Milkinporsche

    @Milkinporsche

    Ай бұрын

    @eileeneclark9011 not necessarily tho, my oldest account was BofA custom cash master card.

  • @CarlosGonzales-wm8xx
    @CarlosGonzales-wm8xxАй бұрын

    Oh joy, Visa can tell me I purchased too much beef and beer last month. Purchase Denied.

  • @MarkReese

    @MarkReese

    Ай бұрын

    Social credit 😬

  • @consciouscrypto3090
    @consciouscrypto3090Ай бұрын

    Tap to send to someone else's phone? Tap to load my entire card onto a phone? So now all a pickpocket has to do is brush past me with an extra app on his phone that amplifies whatever signal the mobile wallet is using to load the cards/transactions?

  • @MarkReese

    @MarkReese

    Ай бұрын

    Crazy thought isn't it?

  • @marisahokefazi4735

    @marisahokefazi4735

    Ай бұрын

    Not crazy at all. What is crazy is this crazy idea of making no redundancy, Forcing 1one's financial currency into all in one place - everything available on one app in 1 place To be stolen. And as we all know, companies are terrible guardians of privacy and security. Worse yet forcing people to do it or give up their Visa credit card, which people have been using for years for all sorts of different rewards points and accounting purposes. Ick.​@@MarkReese

  • @ShadowSnowLeopard95

    @ShadowSnowLeopard95

    28 күн бұрын

    You should be using an RFID protected wallet anyway.

  • @sy2yd
    @sy2ydАй бұрын

    Decided last year to go back to cash. Using 3 different credit protection agencies now and still can't keep up with the dark side. These agencies are great at selling personal data. Done.

  • @MarkReese

    @MarkReese

    Ай бұрын

    💵💯

  • @BOOMBiggityBam

    @BOOMBiggityBam

    Ай бұрын

    I've been paying with cash more and more. Started with always using cash at the gas pump and branched out from there. No one can drain any of my accounts when I use cash!

  • @cockyhemi-123
    @cockyhemi-123Ай бұрын

    I’ll never submit to any of it.

  • @MarkReese

    @MarkReese

    Ай бұрын

    👍

  • @dystopia-usa
    @dystopia-usaАй бұрын

    Have no interest in using my smartphone with any banking/financial apps.

  • @MarkReese

    @MarkReese

    Ай бұрын

    👍

  • @charlesbolin7249
    @charlesbolin7249Ай бұрын

    The one location feature negates the barrier a credit card creates between your cash in your checking account and the outside world. That was the best thing about paying with a credit card, the zero fraud liability it offers and the fact if someone grifts your credit card info, no big deal to shut it down, but if they get into you checking account and the fraud dept has to freeze that, nightmare.

  • @MarkReese

    @MarkReese

    Ай бұрын

    👍

  • @MrDuskmon23
    @MrDuskmon23Ай бұрын

    I don't want all my cards on my phone. I'm cool with my wallet holding my cards

  • @MarkReese

    @MarkReese

    Ай бұрын

    👍👍

  • @zolpty1164
    @zolpty1164Ай бұрын

    This sounds like a nightmare from data repository perspective. Smh

  • @MarkReese

    @MarkReese

    Ай бұрын

    Could be ✌

  • @RedEyeC

    @RedEyeC

    Ай бұрын

    Sound's like a nightmare just watching this video.

  • @looseycanon
    @looseycanonАй бұрын

    Geez, don't do this BS... Don't let them put everything into phones! Those are basically wide open to everything on the Internet and there are very few pieces of security software... And what about that BS with cards with no numbers?! There are still places, that use the old EMBOS system out there! Hell, I live in Europe, even I used magnetic stripe and signature not too many years ago! This would make the card virtually useless as travel card in some jurisdictions!

  • @RedEyeC

    @RedEyeC

    Ай бұрын

    A hackers paradise... 🙄

  • @MarkReese

    @MarkReese

    Ай бұрын

    All in 1 = 1 central point of weakness.

  • @bertbirge3617
    @bertbirge3617Ай бұрын

    No good!!! Not for me!!!

  • @MarkReese

    @MarkReese

    Ай бұрын

    👍

  • @Sachz
    @SachzАй бұрын

    Sounds like a nice transition to the CBDC, centrally back digital currency aka FED COIN

  • @Keepswimmingkeepswimming

    @Keepswimmingkeepswimming

    Ай бұрын

    Bingo

  • @MarkReese

    @MarkReese

    Ай бұрын

    One step at a time 👌

  • @TheTruth-lx7et

    @TheTruth-lx7et

    Ай бұрын

    Exactly!

  • @SenorJuan2023
    @SenorJuan2023Ай бұрын

    I'd rather just carry the cards. Keep things simple!

  • @MarkReese

    @MarkReese

    Ай бұрын

    👍

  • @steve_rogers_usmc1990
    @steve_rogers_usmc1990Ай бұрын

    I wonder what will happen with the few businesses who need the 16-digit numbers from cards for verification. After purchasing my home two months ago, furniture store RC Willey needed my exact credit card present at the time of delivery to verify the purchase. Also, when I paid for my daughter's driver's test at DMV, they could not use any cards that did not have the numbers printed on them. Furthermore, this seems like a credit card hackers wet dream lol.

  • @MarkReese

    @MarkReese

    Ай бұрын

    Why not show the 16-digit account number on your phone?

  • @steve_rogers_usmc1990

    @steve_rogers_usmc1990

    Ай бұрын

    @@MarkReese That would work if I still had an iPhone, switched to android lol. Also, both required a physical card with numbers printed so nothing on a device would have worked.

  • @imnitguy

    @imnitguy

    Ай бұрын

    @@steve_rogers_usmc1990 Pretty sure iPhone and Android tech is pretty interchangeable. But what do I know, I've only been an IT guy for 26 years.

  • @Bayareasvc
    @BayareasvcАй бұрын

    4:51 so now instead of pulling out your card and entering the info. Now you click here, then here, then here, oh then here and now paste here and click here. Now you achieved the same process as before with so much more ease! 🤦🏼‍♂️

  • @MarkReese

    @MarkReese

    Ай бұрын

    😂

  • @smileychess

    @smileychess

    Ай бұрын

    It sounds like rules you would set up in advance, and it then works as normal for the card. You don’t open the app every time you pay for something.

  • @CoryCooley
    @CoryCooleyАй бұрын

    I just feel like that is a security risk if everyone knew every penny you own, and every account was accessible on one app on your iPhone. Not necessarily just for hackers, but also for any in person physical hold ups or theft.

  • @MarkReese

    @MarkReese

    Ай бұрын

    Not a pleasant thought 😬

  • @archonmarch3965
    @archonmarch3965Ай бұрын

    Ummm no. convenience is the antithesis of security. Too much digital, too lazy, too easy to track...hate it. Glad I generally do not use VISA.

  • @MarkReese

    @MarkReese

    Ай бұрын

    I hear ya on that.

  • @michaelmodernsonicfan5341
    @michaelmodernsonicfan5341Ай бұрын

    the second i get into anything they take it all away from me

  • @MarkReese

    @MarkReese

    Ай бұрын

    😬

  • @williamprice3929
    @williamprice3929Ай бұрын

    Here's the thing, the vendor can make up rules, too.

  • @MarkReese

    @MarkReese

    Ай бұрын

    😬

  • @johnnyappleman7159
    @johnnyappleman7159Ай бұрын

    I would never carry a card that had access to my other accounts that is a disturbing concept. I'm fine with carrying around the credit card because who cares if it is stolen but my debit card? Oh no never, I hope this dies in dev it has no place here.

  • @MarkReese

    @MarkReese

    Ай бұрын

    👍

  • @rpeltz
    @rpeltzАй бұрын

    I can only imagine the plethora of additional fees that could come from the wrong card being used for the wrong thing. As an example, attempting to withdraw cash ends up as a credit card cash advance instead of a withdrawal from your checking account balance.

  • @MarkReese

    @MarkReese

    Ай бұрын

    Gotta make sure to choose the right product!

  • @wanem1622
    @wanem1622Ай бұрын

    2:46 Actually @Mark these features have all been available in the UK for quite some time not just the EMV chips... Curve Card over here has had (amongst other features) numberless cards, as well as a GBiT feature (Go Back In Time) to select what card to move a transaction to, a few days after the fact, as well as a feature to select which card to use for each spending category, they literally call it 'Smart Rules' as well so it'll be interesting to see what happens with that. It will also be interesting to see if VISA can manage the product better than the shit show Curve has turned out to be.

  • @MarkReese

    @MarkReese

    Ай бұрын

    Yep 👍 The Curve Card ended their rewards program & stopped taking new applications in Jan. 2024, right?

  • @SYS-ky7zk
    @SYS-ky7zkАй бұрын

    Although I am for conveniences I like having different options using credit/debit cards. Especially traveling outside of US, sometimes it's necessary to have physical card. Some countries still prefer cash payment. That's why I even have Charles Schwab Debit card which works great overseas.

  • @MarkReese

    @MarkReese

    Ай бұрын

    Fantastic debit card right there 💳

  • @TheTruth-lx7et
    @TheTruth-lx7etАй бұрын

    All about control period!

  • @MarkReese

    @MarkReese

    Ай бұрын

    👍

  • @sirrockefeller149

    @sirrockefeller149

    Ай бұрын

    @@MarkReese lol Where is "i dont think so" 😢😢😢 lol

  • @harkinsdavid
    @harkinsdavidАй бұрын

    The problem is, this only works well if all your cards are Visa. How smart are the rules we can apply to our card set? For instance, can we set Dining to the Freedom Flex until total dining spend between 4/1/2024 and 6/30/2024 is greater than $1500, or change what card we use for dining manually? I'll use what's in my wallet right now as a use case. Gas is on my Discover It card, Dining I'm using my Ford Pass Visa until I hit the annual bonus ($200 for spending $6,000 every calendar year), Grocery my Amex Gold, Catch all is my SoFi Mastercard, and I need to swing by Lowes, so I have my Lowes card in there. With this example these features don't really help me at all.

  • @MarkReese

    @MarkReese

    Ай бұрын

    👍👍

  • @Brianpeckin
    @BrianpeckinАй бұрын

    This is an awful change while I'm traveling And I'm visiting a country that doesn't have much English. So how am I supposed to have access? And how is the payments work? So what if I want to use different cards at different locations so I have to go to an app or something to change it? I barely use my wallet as it is but even then if I lose my phone then I'm screwed or my phone gets broken and I like having multiple cards. I like collecting them in a sense This is Is not good. So if I lose my phone and I need to buy a new phone I can't. How do I determine where I want to do my purchase on? What if I want to use, for example, a sapphire preferred over the freedom flex at this time when I'm making a purchase by how do I change that if I don't have my phone if my phone's broken, or dead or stole?

  • @MarkReese

    @MarkReese

    Ай бұрын

    Hopefully this whole thing is thought out _really well_ prior to launch 😬

  • @AB-hu4fc

    @AB-hu4fc

    Ай бұрын

    That is easy They will allow you to press the keypad after swiping or tapping your card to select what card you want to use. Then hit the # key to confirm card number choice so that card info is used for the payment. ## I do not like this at all when it gets hacked all of your banking and credit info will get stolen.## Let alone the way the government has been able to seize people bank account and get their credit cards canceled Now they will just have to call or email on place to get that done instead of having to go to each bank and credit card company.##!!

  • @eileeneclark9011

    @eileeneclark9011

    Ай бұрын

    5/31/24...."THEY" ARE JUST SO DAMNED DETERMINED TO "WATCH EVERYBODY" + "CONTROL EVERY TRANSACTION" + "KNOW EVERY TIME YOU FART OR BREATHE OR SCRATCH YOUR BUTT ".....

  • @shawn.credit
    @shawn.creditАй бұрын

    I will move everything over to Amex happily, I already have most of my spend going through Amex I will have no issues going exclusive. I see card cancellations in the future if this happens I like everything separate and spread out this sounds like a horrible transition!

  • @MarkReese

    @MarkReese

    Ай бұрын

    😬👍

  • @jwil4286
    @jwil4286Ай бұрын

    I hope this doesn't ruin credit card rewards in the future

  • @MarkReese

    @MarkReese

    Ай бұрын

    Hope not!

  • @jwil4286

    @jwil4286

    Ай бұрын

    @@MarkReese do you think it will?

  • @MarkReese

    @MarkReese

    Ай бұрын

    @@jwil4286 - No.

  • @chrisem401
    @chrisem401Ай бұрын

    No thanks!!!

  • @MarkReese

    @MarkReese

    Ай бұрын

    👍👍

  • @joete3324
    @joete3324Ай бұрын

    I dont use any banking or any credit card transaction via cell phone!

  • @MarkReese

    @MarkReese

    Ай бұрын

    📱👍

  • @Cwazydoge
    @CwazydogeАй бұрын

    Hello cash!

  • @MarkReese

    @MarkReese

    Ай бұрын

    💵

  • @nicksmith8141
    @nicksmith8141Ай бұрын

    Have to see how this will actually work in practice first. A lot of these features I won't use, but as long as it doesn't interfere with points and cash back I don't care.

  • @MarkReese

    @MarkReese

    Ай бұрын

    Definitely gotta wait to see how the real thing works after launch.

  • @erikthered4876
    @erikthered4876Ай бұрын

    How will this work with all the co-banded credit cards? It seems like that will push out co-barnded cards to me. Sad day if so

  • @MarkReese

    @MarkReese

    Ай бұрын

    Not sure at this point.

  • @sayyedal-afghani7896
    @sayyedal-afghani7896Ай бұрын

    Why not put a mark or microchip on everyone's hand or forehead? That seems a lot simpler!

  • @MarkReese

    @MarkReese

    Ай бұрын

    One step at a time 😬

  • @twinklefire7241

    @twinklefire7241

    Ай бұрын

    You mean like an invisible quantum dot tattoo that uses a patented ink called Luciferase? Like that?

  • @sayyedal-afghani7896

    @sayyedal-afghani7896

    Ай бұрын

    @@twinklefire7241 Yes Ameen!

  • @stephenlacher587
    @stephenlacher587Ай бұрын

    Life is really tough when one has to key in 16 digits!!!! JHC!

  • @MarkReese

    @MarkReese

    Ай бұрын

    😬

  • @khanscombe619
    @khanscombe619Ай бұрын

    Cool. I’m ready for it

  • @MarkReese

    @MarkReese

    Ай бұрын

    👍👍

  • @SimonBrenner-tc5co
    @SimonBrenner-tc5coАй бұрын

    Not worried about it. They also announced decades ago that they would start to roll out „Pin First“ credit cards .. and I’m still signing 😂😂

  • @robert8311
    @robert8311Ай бұрын

    This is stupid would like to keep my account separate

  • @MarkReese

    @MarkReese

    Ай бұрын

    👍

  • @WanderingOutsideGuy
    @WanderingOutsideGuyАй бұрын

    This is a bad idea, i have several credit cards but only carry 1 at a time. If i lose it im not screwed its just 1 card i can freeze it and move on.

  • @MarkReese

    @MarkReese

    Ай бұрын

    💯👍

  • @jjones8813
    @jjones881329 күн бұрын

    When Fed Now was introduced, that was my clue to stop using VISA etc.

  • @doreanabland1296
    @doreanabland1296Ай бұрын

    Why is it that some businesses are now deciding NOT to Accept CHASE credit cards… I’ll keep my cash

  • @MarkReese

    @MarkReese

    Ай бұрын

    I'm guessing it's the one(s) with higher annual fees with a Visa Infinite designation? Those likely have higher interchange fees charged to the businesses than lower-tier cards.

  • @PrayAlways-mn7wh
    @PrayAlways-mn7whАй бұрын

    Other titles which may have been more appropriate for this video is "New Credit Cards allow Steal by Convenience" or maybe "New Credit Card Allows Central Control" instead of "Pay by Convenience".

  • @MarkReese

    @MarkReese

    Ай бұрын

  • @trevorhoerdt38
    @trevorhoerdt38Ай бұрын

    So like what if our -hone has low battery or is dead we are just screwed then? Then is such a bad idea

  • @MarkReese

    @MarkReese

    Ай бұрын

    Caos 😬

  • @jameshunter5205
    @jameshunter5205Ай бұрын

    Platinum Amex went south during pandemic 4500.00 outstanding. Should I pay it off, utilize Secretary of State. or something else? Exp/Equ/Tra all 700 or above. Please advise.

  • @MarkReese

    @MarkReese

    Ай бұрын

    If you spend $4,500 on your card, then you owe $4,500. Pay it off.

  • @johnfortes2171
    @johnfortes2171Ай бұрын

    No way!! I'm going back to cash. NOT ONCE was it mentioned who is responsible if you get hacked-you can bet it's NOT the bank or visa. Which means that YOU have to get an attorney to get everything straight-no responsibility from banks or visa!!

  • @MarkReese

    @MarkReese

    Ай бұрын

    👍

  • @johnrkean
    @johnrkeanАй бұрын

    So when your account gets hacked they have access to all your accounts. How convenient for the hackers.

  • @JazzyMarineVet
    @JazzyMarineVetАй бұрын

    I read that this morning at 0'dark thirty...I was waiting on the card gurus to address this......

  • @MarkReese

    @MarkReese

    Ай бұрын

    💯👍

  • @lindajohnson.
    @lindajohnson.Ай бұрын

    This sounds like a nightmare. I don’t use my phone for any banking!😢

  • @MarkReese

    @MarkReese

    Ай бұрын

    👍

  • @tlewis4522
    @tlewis4522Ай бұрын

    With all these data leaks I’m good on this lol. Just take one big leak and everything is on the dark web, like my social, account numbers, and everything else smh

  • @MarkReese

    @MarkReese

    Ай бұрын

    Not a comforting thought 😬

  • @tendercrispbacon
    @tendercrispbaconАй бұрын

    passkeys are pretty cool though

  • @MarkReese

    @MarkReese

    Ай бұрын

    💯

  • @miguelcadete2495
    @miguelcadete2495Ай бұрын

    I barely know how use my phone, they can take their credit idea and stuff it.

  • @MarkReese

    @MarkReese

    Ай бұрын

    😄

  • @bradfordcoffman
    @bradfordcoffmanАй бұрын

    Thanks for confirming we are one step closer to a social credit score.

  • @MarkReese

    @MarkReese

    Ай бұрын

    😬

  • @puravida5683
    @puravida5683Ай бұрын

    Seniors as a rising population, have a problem using computers and cellphones already,

  • @MarkReese

    @MarkReese

    Ай бұрын

    😄

  • @dougschultz4252

    @dougschultz4252

    Ай бұрын

    God, what a mess. I have a headache just thinking about how something like this can f**k up your life.

  • @jca998
    @jca998Ай бұрын

    How will this affect different types of cards? For example, will this single card be able to hold a visa signature and visa infinite and keep their protections separate?

  • @MarkReese

    @MarkReese

    Ай бұрын

    We'll have to see once it rolls out.

  • @jasonnexkemp2776
    @jasonnexkemp2776Ай бұрын

    Seems like the Curve card, but with a massive update.

  • @MarkReese

    @MarkReese

    Ай бұрын

    👍👍

  • @caribdude8151
    @caribdude8151Ай бұрын

    Hey Mark! 👋

  • @MarkReese

    @MarkReese

    Ай бұрын

    Yo!

  • @tonystrades8007
    @tonystrades8007Ай бұрын

    I already do this don't understand what's the big deal I have all my cards with Google wallet best thing ever

  • @soapa4279

    @soapa4279

    Ай бұрын

    The difference is that you do it directly with the banks, not a 3rd party like Google Wallet or Apple Pay

  • @MarkReese

    @MarkReese

    Ай бұрын

    Hopefully the implementation will be good & worthwhile. We'll have to see. I too am a fan of mobile wallets as they exist.

  • @Orecatmeatprocessors
    @OrecatmeatprocessorsАй бұрын

    Is Master Charge going to do this too?

  • @MarkReese

    @MarkReese

    Ай бұрын

    No info about that at this time.

  • @annacurransmotherofmeghanc1841
    @annacurransmotherofmeghanc1841Ай бұрын

    As a person who definitely isn't a hacker I can say that I like what I hear. Tap tap, music to my ears.

  • @MarkReese

    @MarkReese

    Ай бұрын

    😁

  • @smartypants1980
    @smartypants1980Ай бұрын

    Will they work on how long it takes for things being stuck in the pending stage. Is it not just one computer talking to another? And with AI and Quantim computing, why so long with pending

  • @Keepswimmingkeepswimming

    @Keepswimmingkeepswimming

    Ай бұрын

    LOL Its people like you that Will be the reason the gov can Control everything here sir .... let the GOV monitor and control our spending activity surprise! yours driven, traveled, eaten too much .... big brother has frozen your account 😢

  • @MarkReese

    @MarkReese

    Ай бұрын

    Pending for 1-3 days is awful 😞

  • @frederickvalencia4976
    @frederickvalencia4976Ай бұрын

    This is good for credit card company makes maximum your line of credit more money for them but also high risk on getting hack

  • @MarkReese

    @MarkReese

    Ай бұрын

    There will definitely be winners & losers with this.

  • @mace422004
    @mace422004Ай бұрын

    do a video on the new trend, the 8 dollar late fee backlash is coming, synchrony raised the rate of some cards to 34.99, Usaa just jacked the balance transfer fee from 3 percent to 5 percent and my amazon gift card minimum went to 5.00 per transaction. All of this in 30 days from an 8 dollar late fee rule.

  • @MarkReese

    @MarkReese

    Ай бұрын

    Thanks for the suggestion, but I don't plan to cover those topics at this time.

  • @HGRAP1
    @HGRAP1Ай бұрын

    Sounds like an overcomplicated method to get even more data on their consumers

  • @MarkReese

    @MarkReese

    Ай бұрын

    👍

  • @Kiwikify
    @KiwikifyАй бұрын

    So Visa's version of a more sophisticated Curve?

  • @MarkReese

    @MarkReese

    Ай бұрын

    Yep 😄

  • @smartypants1980
    @smartypants1980Ай бұрын

    This was fasinating

  • @MarkReese

    @MarkReese

    Ай бұрын

    I thought so too.

  • @arseniojenkins43
    @arseniojenkins43Ай бұрын

    What about paying pure cash..at some place...

  • @MarkReese

    @MarkReese

    Ай бұрын

    💵👍

  • @tonywright8342
    @tonywright8342Ай бұрын

    What’s this all about. I haven’t been carrying physical cards or entering card numbers for many many years. Who does that these days? All done through the digital wallet.

  • @MarkReese

    @MarkReese

    Ай бұрын

    👍👍

  • @texasguysanantonio8295
    @texasguysanantonio8295Ай бұрын

    So it sounds like it will basically be an enhanced version of Apple Pay. And as far as P to P, since my friends and I all happen to bank at the same institution, we can transfer money to each other directly through the banking app.

  • @MarkReese

    @MarkReese

    Ай бұрын

    👍

  • @ivysapphire6944
    @ivysapphire6944Ай бұрын

    I hope it's an opt out feature. There is no way i would want this. Im willing to put in some work for somethings in life. Yikes!

  • @naveenthemachine
    @naveenthemachineАй бұрын

    Exactly how is this better than Apple Pay?

  • @curmudgeonextraordinaire1884

    @curmudgeonextraordinaire1884

    Ай бұрын

    Because Visa would control it and be able to make money off it.

  • @MarkReese

    @MarkReese

    Ай бұрын

    We'll have to see how it gets implemented.

  • @avayu2289
    @avayu2289Ай бұрын

    I like paying with credit cards and then pay off monthly statements in full. Never debit, cuz that is directly connected to my bank account. Gonna pass on this hackers’ one stop shop.

  • @MarkReese

    @MarkReese

    Ай бұрын

    💯👍

  • @SimplyJack3
    @SimplyJack3Ай бұрын

    I'm starting to have memories of how long and terrible it went addong yhe EV chip.

  • @MarkReese

    @MarkReese

    Ай бұрын

    😬

  • @Food4thought1234
    @Food4thought1234Ай бұрын

    I would have zero issues with this move. However visa requirements for a USA based number is outdated and a pain. Even if you have other CC some of them still uses Visa method. There is zero ways for me to authenticate thier security since they won’t send to certain numbers. Even if it’s a USA number. They won’t do email anymore. So basically you can’t use it at a certain point.

  • @MarkReese

    @MarkReese

    Ай бұрын

    👍

  • @SimplyJack3
    @SimplyJack3Ай бұрын

    This about visa increasing bottom line

  • @MarkReese

    @MarkReese

    Ай бұрын

    Always part of the equation!

  • @1ctf749
    @1ctf749Ай бұрын

    Great idea on paper, although this could be bad due to hacks

  • @MarkReese

    @MarkReese

    Ай бұрын

    👍

  • @Frederico.Huguenin
    @Frederico.HugueninАй бұрын

    Apple Pay works fine

  • @MarkReese

    @MarkReese

    Ай бұрын

    I like it too.

  • @John-yy4kc
    @John-yy4kcАй бұрын

    US is way behind Europe and Asia with credit card payment system which is faster and with much lower transaction fees less of than 1%

  • @MarkReese

    @MarkReese

    Ай бұрын

    Yep 👍

  • @abelduenas987
    @abelduenas987Ай бұрын

    This is about control, cash will be phased out. Remember the truck drivers in Canada? Yeah…

  • @MarkReese

    @MarkReese

    Ай бұрын

    👍👍

  • @NewAlbionTV
    @NewAlbionTVАй бұрын

    What a tedious inconvenient system. Best to return to cash. No need to waste time with these apps, no need to carry and loose your phone, no need to spend time dealing with all these gimmicks. Cash is getting better and more attractive again.

  • @MarkReese

    @MarkReese

    Ай бұрын

    💵💵💵

  • @nouveauriche1779
    @nouveauriche1779Ай бұрын

    All roads lead to a CBDC

  • @MarkReese

    @MarkReese

    Ай бұрын

    Sure looking like it!

  • @MzMąħ
    @MzMąħАй бұрын

    Hm, looks like it may be better to not use credit cards but use PLOC instead?

  • @MarkReese

    @MarkReese

    Ай бұрын

    😬

  • @fittnessking4951
    @fittnessking4951Ай бұрын

    This will be the ultimate heist..

  • @MarkReese

    @MarkReese

    Ай бұрын

    😬

  • @Mestrella9
    @Mestrella9Ай бұрын

    Geez not a fan of this. I hope Mastercard doesn’t do this bs too . I’m sticking with my Amex

  • @MarkReese

    @MarkReese

    Ай бұрын

    👍👍

  • @bbbb6066
    @bbbb6066Ай бұрын

    How do people who do not have smart phones pay? Does you 14 yo need a smart phone to buy a big mac or go to the movies. There is a disconnect between the people who make the rules and the people on the other end. How will all the homeless people in Cal. pay for food. I do not see how this will work. Ben

  • @MarkReese

    @MarkReese

    Ай бұрын

    ✌️

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