Costco to Stop Accepting American Express in Canada

The video discusses Costco's decision to stop accepting Amex, highlighting the shift towards a credit cardless world. It explores the future of payments, emphasizing mobile payments and the rise of Fintech. The conversation touches on the persistence of credit card services due to consumer behavior and security concerns. Innovations in payment technology, such as Coin and compatibility issues with Apple Pay, are also discussed.

What major change did Costco announce regarding credit card acceptance?

• They will only accept cash.

• They will stop accepting American Express.

• They will start accepting Bitcoin.

• They will only accept Visa.

What is a significant barrier to the adoption of Fintech according to the discussion?

• Limited internet access

• Slow change in consumer behavior

• Lack of consumer trust

• High transaction fees

Why do credit cards remain relevant despite the rise of mobile payments?

• They have lower interest rates.

• They are universally accepted.

• They offer additional services beyond payments.

• They are more secure than mobile payments.

What is the purpose of the Coin device mentioned in the discussion?

• To convert cash into digital currency

• To store all of your credit cards in one device

• To track your spending habits

• To provide discounts at select retailers

What challenge does Square face in integrating with Apple Pay?

• Square's technology is incompatible with Apple devices.

• Square requires a separate device for transactions.

• Apple has blocked other companies from using its devices as payment devices.

• Apple Pay is not widely used.