Comment Re:Cash is so much better. (Score 1) 186
Speed depends on the gear that the merchant has, and the process that the consumer uses.
At Kroger, my debit-based magstripe credit card transactions happen nearly instantly -- less than a second -- and I don't have to sign anything if it's under $50.
It goes like this: Swipe card, begin to think about putting it back in my wallet, and the receipt printer goes *whoosh* with a flurry of thermal paper. Put card in wallet, and the clerk is handing my receipt to me by the time my wallet is away.
It takes longer than that less-than-a-second to physically open and close the til to be able to handle cash, let alone actually transact with it.
And if I've got my wits about me, it's even faster: Before the items are even done being rung up, I've generally already got my credit card swiped and selected and put away.
Same with the phone and Google Wallet, at the few places that actually accept it near me: I've generally already done the tap-to-pay thing before the clerk is done ringing things up.