It's selling eight times faster than the Nothing Phone (2a). Nothing unveiled the CMF Phone 1 this past Monday, and the phone went on sale earlier today....
Okay? QR codes are displayed publicly. They display the unique ID of the merchant. That’s all. The payment happens over the internet which is encrypted.
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.
Yeah this surprised me. Is NFC payment not common in India?
Nah, india has UPI which uses QR codes.
Madness!
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.
Because 0 security
What? Payments are obviously going to be secure.
QR codes cannot contain enough data to put cryptographic keys.
Okay? QR codes are displayed publicly. They display the unique ID of the merchant. That’s all. The payment happens over the internet which is encrypted.
Isnt it free and very good?
Think of it more is visa master card discover bank of America?
Yep.
As in “free” payment processing system deployed and maintained by the Indian government?
Why the quotes? It is free. Except for the money that you transfer. That is deducted from the bank account, obviously.
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.