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

[lazyboy97o]

And I have a question - not limited to Disney.

Grab a $10 bill out of your wallet. Look front, lower left.....

"This note is legal Tender for all debts, public and private".

A NUMBER of business seem to want to be "cashless". But I would suggest that they are currently overruled by the Federal Government.
Consider - who wants to be first in line for a Federal Lawsuit when that US currency is offered, and rejected?

Now - no effect on us, we have all those plastic payment methods. Nope, just CURIOUS if a business can make this stick?

You’re misinterpreting that statement. It just means that it is a legal form of payment.
https://www.treasury.gov/resource-center/faqs/Currency/Pages/legal-tender.aspx

 

[flynnibus]

I gotta imagine the biggest impact has to be on foreigners... who aren't staying at a resort... and may put more stress on parents enabling purchasing privileges on minor's cards

 

[Polydweller]

This will be a huge headache to foreign visitors. Big mistake!

I'm a foreign visitor and it's not an issue for me at all. Resort and restaurants are already cashless for us.

 

[andysol]

You and I are not subsidized by those who pay cash but by those who don't pay their credit card bill in full every month. I only pay by credit card and get lots of points for free rental cars and air travel.

Not to be completely off-topic, but that's not the full story. Merchant and transaction fees are what turn the engine, not just interest. AMEX, for example, made their start entirely on transaction fees as they didn't allow balances on their charge cards. Clearly, the interest game is a major benefit, but merchant fees are still the bread and butter and outearn the interest for several banks.
There is a reason the super-premium cards offer huge signup bonuses, give mega points, and have insane APRs of 25%+. Yet they only go to high credit scores with good credit history and good incomes. People who generally won't ever carry a balance. Why? They charge more for those particular transaction fees.

To dumb it way down. An order costs $10 at the grocery store. Someone pays cash for the order- store makes $10, right? Now, I go and buy that same $10 order with a super-premium card that charges the grocery store 2.1% + .10 on the transaction. That $10 order now has a merchant fee of $0.31- meaning the grocery store only makes $9.69 on that transaction. Does the supermarket just take the hit on that and lose 31 cents profit? No- they raise the price to $10.31. Now I pay $10.31 and get 3% back (which, coincidently in this case is 31 cents)- making my net purchase still $10. Meanwhile, cash person spends $10.31.

Hence, they subsidized my points and the big bank earns more.

Spoiler

https://loopholetravel.com/2017/01/25/looking-loophole-really-pays-rewards-part/
https://loopholetravel.com/2017/03/02/looking-loophole-really-pays-rewards-part-ii/
https://loopholetravel.com/2017/03/14/looking-loophole-really-pays-rewards-part-iii/

 

[Polydweller]

I gotta imagine the biggest impact has to be on foreigners... who aren't staying at a resort...

What has ‘foreigner’ got to do with anything about this? I can use my Visa, MasterCard or American Express anywhere in the world that they operate, which is most countries. And think about, when Americans come up to Canada you are the foreigners and have no problems using your cards up here.

The exchange rates are things you always have to factor in when travelling internationally, regardless of your nationality. So nothing new here. Have done it every trip to Disney and elsewhere. I don’t see any new issue.

 

[flynnibus]

What has ‘foreigner’ got to do with anything about this? I can use my Visa, MasterCard or American Express anywhere in the world that they operate, which is most countries. And think about, when Americans come up to Canada you are the foreigners and have no problems using your cards up here.

I said 'impact' - not that it was impossible or something. Fees and constraints are real y0

 

["El Gran Magnifico"]

There will come a time in the not so distant future where all transactions will be done via the Magic Band. You'll simply preload your mini tracking device with your plastic of choice and away you go. Everyone visiting the Kingdom will have an MDE account, a band, and a detailed history.

 

[mikejs78]

There will come a time in the not so distant future where all transactions will be done via the Magic Band. You'll simply preload your mini tracking device with your plastic of choice and away you go. Everyone visiting the Kingdom will have an MDE account, a band, and a detailed history.

This aside, I don't see cash even being around in 25 years, and it's iffy in my mind if it is still a major form of payment in 10 years. Disney is just ahead of the curve.

 

[Sirwalterraleigh]

And I have a question - not limited to Disney.

Grab a $10 bill out of your wallet. Look front, lower left.....

"This note is legal Tender for all debts, public and private".

A NUMBER of business seem to want to be "cashless". But I would suggest that they are currently overruled by the Federal Government.
Consider - who wants to be first in line for a Federal Lawsuit when that US currency is offered, and rejected?

Now - no effect on us, we have all those plastic payment methods. Nope, just CURIOUS if a business can make this stick?

You're not suggesting the United States government would do anything to stop free spending in all forms, are you?

 

[Sirwalterraleigh]

If I am paying the bill I expect to be able to pay in the manner I choose. Credit cards only transactions are just too much big brother for me.

It must be a rough 35 years or so for you...

 

[mikejs78]

You're not suggesting the United States government would do anything to stop free spending in all forms, are you?

There are already some online vendors that only accept BitCoin....

 

[mikejs78]

It must be a rough 35 years or so for you...

It's going to be an even rougher 10-25 years ahead.

 

[Sirwalterraleigh]

There will come a time in the not so distant future where all transactions will be done via the Magic Band. You'll simply preload your mini tracking device with your plastic of choice and away you go. Everyone visiting the Kingdom will have an MDE account, a band, and a detailed history.

Disney inferred that it was gonna be like that 6 years ago

 

[Glasgow]

Over/under on accepting chips implanted under your skin? About 15 years probably.

 

[Polydweller]

I said 'impact' - not that it was impossible or something. Fees and constraints are real y0

Ok, so what impact then? There really isn’t any. And what fees and constraints other than those international travellers always factor in? There is nothing new here so really no new impact. The net additional impact of this trial is essentially zero. So again, what does foreigner have to do with this issue?

 

[jt04]

Over/under on accepting chips implanted under your skin? About 15 years probably.

Nope.

 

[LiveInOrlando]

This is an interesting move. There was a circuit court mandate several years ago, that stemmed from an Apple store issue, that since the only recognized form of legal tender in the US was cash that transactions were required to accept it.

A quick google search hasn't brought up the article I read this from.

Personally I still use a mix of cash and card for everyday stuff. My last vacation to Disney I brought both with me. Most tips at restaurants I left in cash and any purchases under 50 were made with cash as they didn't count for the Visa discount.

They will still accept cash, but only at the Front Desk.

 

[LiveInOrlando]

I work for a major hotel company, we have many resort locations that are cash-less in all outlets for Food & Beverage. The amount of cash theft in these locations is high. Guests can still utilize cash at the Front Desk. We have had resorts switch to this option and have seen no reduction in sales.

 

[carnini]

Is this really news, and surprised it has not been tried before? Cant remember the last time I paid in cash for anything at disney (or most other places). We keep some cash on hand only for certain tips.

 

[ThemeParkJunkee]

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.