Cool, Scary, or Scary Cool? Warning Impulse Shoppers – Do Not Get This App!

People who want to go shopping at local retailers without the hassle of waiting in long checkout lines now have the option of taking on more credit card debt directly through their Smartphones.

Here’s how it works: You take a picture of your credit card using an app by Aisle Buyer, and it will use optical character recognition (OCR) to plug the relevant card info into a secure form. You can then instantly use the card to make an in-store or online purchase, or send and receive payments using email or text messaging. You’ll still need to sign for the purchase on your phone, and you’ll get a receipt over email.

Aisle Buyer’s mobile apps let you make purchases anywhere in a store, without the need for waiting in line to checkout. The company takes the concept of self-checkout to the extreme, as you don’t even need to wait for a self-checkout kiosk, which are cropping up in more stores. Its apps also offer consumers information about products and deals provided by retailers.

The app is supposed to be secure, as it does not store any of the information it collects on the Smartphone itself or company servers. This app is the latest way in which retailers are trying to make the purchasing process more convenient for consumers.

The scary part is that if you are someone who can’t control your spending or are quick to make purchases and then regret it later, this app could be very dangerous.   How often do you stand in line with an item and ponder whether or not you really need it and then end-up not buying it? Well, this new app will eliminate the “sanity pause” that many people go through prior to making an impulsive purchase.

Here are the top tips on why to live a cash-only lifestyle:

  • Reduces impulse buying – when you’re working with a limited amount of cash, you’re less likely to buy things impulsively when you can just pull out the credit card.
  • Teaches you to live within your means – many Americans get into trouble because they’re living outside their budget.
  • Eliminates debt – if you’re only spending what you have, you’re not accumulating more debt or spending your hard earned money on fees.
  • Promotes good saving habits – large purchases have to be saved for and it teaches good money management.
  • Reduces financial stress – when you don’t have debt hanging over your shoulder, you have less stress in your life.

It is very cool that this app lets you fly by the checkout line, but not if you are going to incur debt and pay hefty interest on purchases.