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Not sure if I missed it, but I dont understand this: The founders of the company couldn't use their cards because of Target breach. And they started Final base
by calvinbhai 10y ago
Not sure if I missed it, but I dont understand this:
The founders of the company couldn't use their cards because of Target breach. And they started Final based on that experience.
How is Final solving this problem for breaches involving in store transactions like that of Target? imo, the Final card would still need to be deactivated right?
If I understood their value proposition correctly, Final has the best UX for virtual card numbers unlike those provided by BoA and Citi, where the UX to generate and use them sucks, and to be used for online transactions.
w.r.t in store transactions, it continues to be the same. (correct me if I'm wrong)
- bjapel 10y agoFor us, it was about control. We felt powerless when our issuing banks canceled our cards w/o warning. You're correct in that Final uses EMV to solve for in-store fraud just like rest of industry (which reduces by 80-90%). But if I lose my card or on slight chance someone manages to skim at POS that is magstripe, I can just turn that card off, and all other recurring payments and merchants are unaffected, just need a new plastic.
- cheiVia0 10y agoBasically like Discover's Freeze Account or Citi Quick Lock... :/
- calvinbhai 10y agoDefinitely makes sense to have a card like Final in that case.