Comments by "afcgeo" (@afcgeo882) on "Feli from Germany" channel.

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  17. In the United States, Credit Card agreements require lending banks (credit card bank) to forgive fraudulent transactions and return the money to the customer when a legitimate complaint is filed and investigated. They purchase insurance for such things and consider it a simple cost of doing business. They also have much stronger anti-theft protocols than you think, including algorithms that look into your purchasing history, amounts and locations. When it comes to debit cards/checks, there are a lot fewer protections from fraud. If someone hacks your debit card and you don't report it within a few days, you may very well lose whatever amount you were taken for. They will shut down further debits and issue you a new card, but the money that's lost may be lost. The same with checks. Unless they track down the thief and find definitive evidence of fraud, you likely won't see that money back. That is why Americans are more prone to using credit cards than debit cards/checks. At the same time, technology implementation is much more difficult in the United States due to so many states having different laws for commerce, federal laws for interstate commerce, a HUGE amount of independent businesses and the overall attitude of the government not getting involved in business until it absolutely has to. Mandating a form of payment is not an option, like it may be in smaller countries. You cannot make a small business owner invest in particular technology. Checks didn't need any technology. They are paper. That said, businesses are moving to more technological systems on their own and you will RARELY see checks used in places like grocery stores anymore.
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