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Nothing sells 100,000 CMF Phone 1 units in three hours (gsmarena.com)
submitted 2 years ago by to c/android@lemmy.world
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[–] 5 points 2 years ago (16 children)

Nah, india has UPI which uses QR codes.

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  • [–] 7 points 2 years ago (6 children)

    Madness!

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  • [–] -1 points 2 years ago (5 children)

    Why?

    Even a low-end phone comes with a good enough camera for QR which means wider adoption, you need a higher tier phone for NFC.

    We have a similar system in my country and I believe we copy it from India, it works and is convenient.

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  • [–] 5 points 2 years ago (4 children)

    Why

    Because 0 security

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  • [–] 1 point 2 years ago (2 children)

    What? Payments are obviously going to be secure.

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  • [–] 0 points 2 years ago (8 children)

    Isnt it free and very good?

    Think of it more is visa master card discover bank of America?

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  • [–] 3 points 2 years ago (7 children)

    Yep.

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  • [–] 3 points 2 years ago (6 children)

    As in "free" payment processing system deployed and maintained by the Indian government?

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  • [–] 2 points 2 years ago (5 children)

    Why the quotes? It is free. Except for the money that you transfer. That is deducted from the bank account, obviously.

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  • [–] 2 points 2 years ago (4 children)

    Taxpayers still pay for it, but it is free at the point of sale or transaction.

    It is great system tho as far as my understanding how it was done. In us, the rate is 3-4% on credit transaction which dominat payment system for point of sale. Shit is taxing.

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  • [–] 1 point 2 years ago (3 children)

    The real question is why do people in the US use credit cards instead of debit cards like everyone else?

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  • [–] -1 points 2 years ago (2 children)

    It provides better customer protections over any other payment method. It allows you get a charge back if vendor is acting funny.

    You zero practical protection with cash for example if physical or less protection with debit card. Debit cards are not good to use for everyday buying if it is your checking account. It is too risky.

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  • [–] 1 point 2 years ago (1 child)

    Many countries have laws and regulations which create customer protections, so there's no need to rely on 3rd party solutions.

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  • [–] 1 point 2 years ago

    Good luck enforcing shit in a US court against a "private enterprise" and you sure as fuck can't count on any regulator here for anything beyond some good lip service.

    Smart move is to go based on how system functions, not how it supposed to work. It is likely configured for this anyway.

    Use case where possible folks, they are taking it away as is.

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