1074-Why You Should Use Apple or Google Pay Instead of a Physical Credit Card

Radical Personal Finance

Joshua J. Sheats, MSFS, CFP, CLU, ChFC, CASL, RHU, REBC, CAP

Finance, Retirement, Insurance, Business, Money, Education, Self-improvement, Financial, Independence, Growth, Advice, Investing, Family, Personal, Radical, Christian, Faith

4.4 • 1.9K Ratings

🗓️ 10 December 2024

⏱️ 23 minutes

🔗️ Recording | iTunes | RSS

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Summary

Learn this and many more useful tricks in the RPF Academy: www.RPFacademy.com.

Transcript

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0:00.0	Welcome to Radical Personal Finance, a show dedicated to providing you with the knowledge, skills, insight, and encouragement you need to live a rich and meaningful life now while building a plan for financial freedom in 10 years or less.
0:10.4	My name is Joshua Sheets. I'm your host, and today on the podcast, I want to continue our theme on payment methods.
0:16.2	In the recent podcast, I shared with you why I don't cancel my credit cards every year.
0:20.7	Because now, just because I cancel my credit cards, that doesn't automatically fix all my
0:24.4	subscriptions and things like that, because those continue even if I cancel my physical
0:28.7	card.
0:29.6	Today, I want to tell you why I very rarely ever even use a physical card.
0:34.2	And that, of course, is because now I use Apple Pay.
0:39.6	And you can use here Apple Pay or Google Pay. I happen to use Apple Pay. And I want to explain to you why I think you should as well.
0:46.5	Now, when Apple Pay first came out, there was a lot of news and a lot of people talking about how
0:51.2	this is more secure. This is a better method of payment, and I greeted
0:55.0	that with quite a significant level of suspicion, as probably you did as well. But over the years,
1:01.1	as I've come to use Apple Pay quite a lot, I have come to believe that it is indeed, in many cases,
1:07.8	a superior model of payment. Now, recognize that when I use terms like superior,
1:13.9	you, of course, need to say, well, by what metric? So, for example, Apple Pay has a number of
1:19.1	downsides when compared to paying with cash, physical $100 bills. But then, of course,
1:25.7	physical $100 bills have various downsides when
1:28.3	compared with paying with Bitcoin. And Bitcoin has various downsides when compared with paying with
1:34.7	credit cards. Every way that we could pay for something or buy something has a set of features. And those
1:41.5	features, depending on your perspective, could be advantages or they
1:45.3	could be disadvantages. So in this podcast, I am primarily comparing Apple Pay or Google Pay,
1:54.2	for the sake of not being pedantic, just if you want to prefer Google Pay, just when I say Apple Pay,
	...

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