News Disney to pilot electronic-only transactions at its resort hotels

[disneyfirstLJ]

I don't like this at all. I am a cash user on vacation and most of the time as I use the envelop system. It helps me with my budget. I allow myself a certain amount of money per day and once it is gone, it is gone. This is much harder to keep track of with any type of card. I really do not want to convert the cash into multiple gift cards. What a pain! Also, what about little kids. My daughter brings her own money to spend on vacation and that is usually cash. Yes, we could put her cash on a Disney gift card but that means she has to spend it all at Disney. Most of the time she comes home with money left because she is frugal. Not a fan!

 

[BoarderPhreak]

Latest version of the MDE app allows you to see purchases made on the MagicBand.

No kidding? Wow, that's fantastic.

"Be careful what you wish for."

 

[AEfx]

eliminating cash drawers takes a lot of overhead out of your system. Move to magicbands, and you move a lot of risk for employee fraud out of your POS network too. Move more transactions to Magicband, and you improve your batch processing with the banks.

All of this is little bits that add up to optimizing the POS network for Disney. Take such a change to property wide.. and the saving really start to pile up.

Exactly. That's what I was saying earlier - this is more about streamlining processes and pushing magic bands than anything else. Not preventing employees trying to skim cash. As you point out, the real risk with employees is credit card fraud. You can have a skimming device just sitting in your pocket and just holding the card against it for a moment can scan all the data they need. That's why chip cards are working to decrease cloning issues (you can buy blank credit cards on Amazon in bulk, for crying out loud) but the big numbers have moved to online fraud - because all someone has to do is scan it and glance at the back to briefly memorize a 3 or 4 digit so-called "security" code.

 

[njDizFan]

A place that attracts so many overseas visitors really has to be careful here.

As I say, what is the solution for a place that has so many small value transactions? It ain't going to look good when the first aid centres are inundated by dehydrated visitors because a bottle of water is effectively costing $10 each.

Hold on I'm confused...how does this equate to a $10 bottle of water. Disney like most places do not impose or levy transaction minimums for their purchases. If a bottle of water is $3 then that is what you are spending. If you want to add in foreign transaction fees, add on additional 3% (which is industry standard), so essentially $3.09.

What if comes down to for me is unless you are a really savvy traveler that can purchase foreign currency in the expectation of future travel at intervals when the rate is favorable, you are going to be paying a foreign exchange fee at the time of converting your cash at the point of sale. Chances are that exchange rate is going to be the same or even better then exchanging currency at your local bank (And that fee is retail, not the currency rates you see on the wholesale market).

Your best bet is to get a credit card that waives your foreign transaction fees and pay the exchange rate that will be converted real time POS. Many banks have that feature, the Sapphire card with Chase(annual fee), Capital one(no fee), Schwab(if you have an investment account) etc, there are many resources.

 

[AEfx]

It would be nice if you could see the bill you're racking up on MDE. Beats going to the front desk for a printout... But I think if it were "too easy" then people might freak out at how much they're spending - and spend less.

Welcome to one of the real big reasons they pushed internally for "Magic Bands" as a replacement for KTTW cards. The more layers you put between someone and the money they are spending, the less psychological barriers they have to spending it.

 

[peter11435]

It would be nice if you could see the bill you're racking up on MDE. Beats going to the front desk for a printout... But I think if it were "too easy" then people might freak out at how much they're spending - and spend less.

This has been possible for a while now.

 

[jakeman]

I think the variety is pretty good. And I'd resort hop to AKL just for zebra domes!

There are a few good options.

It comes and goes.

It was awesome when it first opened.

Last time I was forced to eat there was a few years ago and it was just about as uninspired as it could get for a QS.

Haven't been back since.

 

[BoarderPhreak]

This has been possible for a while now.

Yeah, @Jahona already mentioned that it was part of a recent update. It wasn't there when I went last July.

 

[mikejs78]

A place that attracts so many overseas visitors really has to be careful here.

As I say, what is the solution for a place that has so many small value transactions? It ain't going to look good when the first aid centres are inundated by dehydrated visitors because a bottle of water is effectively costing $10 each.

I think you are missing my point. Forget Disney, cash in general just won't exist in the not too distant future as everything moves towards electronic transactions.

 

[peter11435]

It comes and goes.

It was awesome when it first opened.

Last time I was forced to eat there was a few years ago and it was just about as uninspired as it could get for a QS.

Haven't been back since.

They usually offer a soup from boma which is always a good choice. Zebra domes. And a few other decent options.

 

[KBLovedDisney]

I want to use Canadian money for Disney World transactions, and in real life. It's waterproof! (as so I was told)

Not to mention HOLO!!!

 

[nickys]

Hold on I'm confused...how does this equate to a $10 bottle of water. Disney like most places do not impose or levy transaction minimums for their purchases. If a bottle of water is $3 then that is what you are spending. If you want to add in foreign transaction fees, add on additional 3% (which is industry standard), so essentially $3.09.

What if comes down to for me is unless you are a really savvy traveler that can purchase foreign currency in the expectation of future travel at intervals when the rate is favorable, you are going to be paying a foreign exchange fee at the time of converting your cash at the point of sale. Chances are that exchange rate is going to be the same or even better then exchanging currency at your local bank (And that fee is retail, not the currency rates you see on the wholesale market).

Your best bet is to get a credit card that waives your foreign transaction fees and pay the exchange rate that will be converted real time POS. Many banks have that feature, the Sapphire card with Chase(annual fee), Capital one(no fee), Schwab(if you have an investment account) etc, there are many resources.

As I have said I do have one of the pre-load cards. And I stay onsite, so personally it won't affect me. It will however affect many many others.

The $10 bottle of water is because of the minimum transaction fee which is imposed by U.K. card providers. Which comes to about $5-6 on most cards.

 

[BoarderPhreak]

I think you are missing my point. Forget Disney, cash in general just won't exist in the not too distant future as everything moves towards electronic transactions.

Truth... It's already happening in a lot of places; even here in NYC:

Cash Might Be King, but They Don’t Care

I want to use Canadian money for Disney World transactions, and in real life. It's waterproof! (as so I was told)

Not to mention HOLO!!!

Pppssshhh. That all you got? In Oz it can play records:

Australia's new $5 bill is so good it can play a vinyl record

 

[ppete1975]

I don't like this at all. I am a cash user on vacation and most of the time as I use the envelop system. It helps me with my budget. I allow myself a certain amount of money per day and once it is gone, it is gone. This is much harder to keep track of with any type of card. I really do not want to convert the cash into multiple gift cards. What a pain! Also, what about little kids. My daughter brings her own money to spend on vacation and that is usually cash. Yes, we could put her cash on a Disney gift card but that means she has to spend it all at Disney. Most of the time she comes home with money left because she is frugal. Not a fan!

Its much easier to spend plastic than cash, for that exact reason. Swipe swipe swipe, how much did you spend?? handing over cash and getting change? you know exactly how much you spent, and it hurt more. Dave Ramsey would not approve

 

[njDizFan]

As I have said I do have one of the pre-load cards. And I stay onsite, so personally it won't affect me. It will however affect many many others.

The $10 bottle of water is because of the minimum transaction fee which is imposed by U.K. card providers. Which comes to about $5-6 on most cards.

https://9to5mac.com/2018/01/02/apple-pay-fees-banned-in-uk/

Has anybody from the UK hear about this? As of a few days ago it became illegal to charge extra for using a credit/debit card or Apple pay. Good move for the EU.

I still have never heard about imposing a minimum transaction fee on a UK card...but I don't live in England(but I do have a Barclay's card)

As I have said I do have one of the pre-load cards. And I stay onsite, so personally it won't affect me. It will however affect many many others.

The $10 bottle of water is because of the minimum transaction fee which is imposed by U.K. card providers. Which comes to about $5-6 on most cards.

 

[nickys]

https://9to5mac.com/2018/01/02/apple-pay-fees-banned-in-uk/

Has anybody from the UK hear about this? As of a few days ago it became illegal to charge extra for using a credit/debit card or Apple pay. Good move for the EU.

I still have never heard about imposing a minimum transaction fee on a UK card...but I don't live in England(but I do have a Barclay's card)

Minimum transaction fees are pretty much universal on U.K. bank cards.

And no doubt in about 14 months time those card surcharges will be permitted again lol! But that will be the least of our worries.

 

[beachlover4444]

I think we should go to a cashless society. I am sick and tired of going to restaurants that offer no sales tax if you pay cash. Too many cash based businesses avoid paying their true taxes and thus are subsidized by the rest of us. Everyone, every one of us and every business should pay their actual taxes.

Restaurants and gas stations and other businesses, prefer to take cash over credit cards to avoid paying credit card companies their fees for every transaction. It's really got nothing to do with taxes. Marriott discontinued working with credit card companies on their "gift cards" and now sell them internally to avoid the excessive fees banks are charging. After i have been identity thefted multiple times now I only carry 1 credit card for emergencies and I prefer to use cash whenever possible. I'm sick of being hacked. So I am not a fan of this new policy.

 

[beachlover4444]

There is a difference in giving the customer a credit for what would have been the credit card transaction fee and not paying taxes. If they ring up the order then they will pay taxes on it unless they void it. But too many of those and the IRS gets suspicious. I can see not charging the transaction fee but I would never make it sound like they are not paying taxes.

agree it's about avoiding the bank credit card fee not avoiding taxes

 

[beachlover4444]

Yes I understand that cash is still the major way people spend money but it is decreasing year over year. Still about 50% of all cash transactions happen with households that earn less than 50K per year. So there is some importance in regards to income and the ability to have a credit card or access to a good banking platform.

Some countries(The Netherlands) have practically outlawed cash usage, some other countries(Germany) use cash often as a method to avoid overspending. Personally I do not see the risk/reward of ever doing a cash transaction. I am earning points, I have constant access to my funds in my wallet at all times ( no more "I have to run to the bank/ATM situation"), I do not have to worry about losing my money and if there is an issue with my credit card, funds are generally replenished in short order. If I was concerned about data mining I would go live with JT in the New Mexican desert. But to each their own.

FYI I work in retail banking so I deal with credit card/debit card fraud quite often. The risk is spread fairly evenly between internet fraud, check forgery, ACH fraud and card related fraud. It's the world we live in, but there are ways to keep yourself "safer".

here in the states credit card fraud is rampant. Bank of america told me when I opened my account in Myrtle Beach, SC to NEVER use my debit card and be very careful using a credit card anywhere here. I am in a touristy city and skimmers are routinely put on gas station and grocery store self service machines. I've been hacked 3 times since I moved here 9 months ago. So I use cash everywhere I can. Our chip enabled places arent up to snuff with europe either. I worked for Marriott and now Hilton and none of the hotels were chip enabled yet so we are way far behind europe regarding ccard security.

 

[beachlover4444]

Call me old fashioned, but I have a serious distrust of electronic transactions and DIS IT. I will use my plethora of gift cards purchased with cash and Disney Rewards points if this gets beyond the "test program" phase.

ditto