Americans continue to be trapped in a local optima because they cannot profitably shift to a e-banking system while also supporting the costs of the existing checking system
If this claim was right, there would be lots of locations in which card readers are not available, but checks are accepted. In fact, you seem to be totally wrong about this bizarre claim. In reality, debit cards, credit cards, and charge cards are pretty much always available wherever checks are accepted. I’ve never been to a retailer that accepted checks but not cards.
Adding in the reversal test and noting that the European electronic systems came after rather than simultaneously with checks tells us that in a direct head-to-head comparison, checks lost in a large area of the world
The same argument could be used to claim that Los Angeles’ transportation infrastructure is more advanced than San Francisco’s. (LA used to have a light rail system, but later transitioned entirely to cars. SF kept light rail going, in addition to having cars).
If this claim was right, there would be lots of locations in which card readers are not available, but checks are accepted. In fact, you seem to be totally wrong about this bizarre claim.
It’s a good thing I never said that because it is indeed bizarre. Of course individuals may move closer to the better European optima, but the system as a whole remains in the optima. You may be able to use your debit card in plenty of places, but where’s the rest of the European style system? Can you trivially send money from account to account? Receive deposits in minutes or hours rather than multiple days? etc.
The same argument could be used to claim that Los Angeles’ transportation infrastructure is more advanced than San Francisco’s.
Would pass the reversal test. There are plenty of LAers who would welcome a light rail system, and googling I see there are active light rail projects.
If this claim was right, there would be lots of locations in which card readers are not available, but checks are accepted. In fact, you seem to be totally wrong about this bizarre claim. In reality, debit cards, credit cards, and charge cards are pretty much always available wherever checks are accepted. I’ve never been to a retailer that accepted checks but not cards.
The same argument could be used to claim that Los Angeles’ transportation infrastructure is more advanced than San Francisco’s. (LA used to have a light rail system, but later transitioned entirely to cars. SF kept light rail going, in addition to having cars).
It’s a good thing I never said that because it is indeed bizarre. Of course individuals may move closer to the better European optima, but the system as a whole remains in the optima. You may be able to use your debit card in plenty of places, but where’s the rest of the European style system? Can you trivially send money from account to account? Receive deposits in minutes or hours rather than multiple days? etc.
Would pass the reversal test. There are plenty of LAers who would welcome a light rail system, and googling I see there are active light rail projects.