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CTO/Co-Founder of Final here. Final is what we built to take back control of our own credit cards for how and when we’re charged, instead of leaving it up to m
by arfrank 12y ago
CTO/Co-Founder of Final here.
Final is what we built to take back control of our own credit cards for how and when we’re charged, instead of leaving it up to merchants. That led to merchant-specific numbers and limits, managed automatically, as well as transparency in statements. It’s our stake in the ground, a way to shift the culture in credit towards consumer friendliness.
Happy to answer questions
- Aloha 12y agoYour signup link doesnt work with IE9, it just gives a page cannot be displayed error.
- otoburb 12y agoWill the physical card have a number embossed on it, similar to other cards? Or can the physical card number be changed in some way (e.g. Plastc's demo supposedly leveraging e-ink display on the card[1])? Also, does Final aim to become a credit card payments processor similar to Visa, Mastercard, et. al., or will you be leveraging a banking/credit institution in the backend to start with? [1] https://news.ycombinator.com/item?id=8422928 https://news.ycombinator.com/item?id=8422928
- tkmcc 12y agoI was wondering about the number embossing as well. I could see it confusing or sketching out some cashiers, especially with all the recent news about credit card fraud. I like the e-ink idea that Plastc had and would be very attracted to this card if it had that just for ease of use.
- Someone1234 12y agoI've had situations (recently) where the card machine wasn't working so they manually tapped in the number on the front instead. Without the number and given the same situation I might be left without a working card.
- otoburb 12y agoAgreed. In many retail locations they often type in the last 4 digits shown on the physical card even if it's not the entire card number, even when the PoS card scanner is working.
- jessriedel 12y agoI have a credit card from capital one without embossing. The number and name is just written with ink, and the card surface is smooth. I've never had an issue using it.
- tkmcc 12y agoI've seen those, but this card (judging by the image on the landing page) doesn't have any visible number at all.
- arfrank 12y agoCard design standards have been changing in the last year. We'll be issuing a card over the V/MC/Amex network, which requires the card to have a network logo on it. Exact branding is battle we know we will have to fight with the networks and our partner bank, but ultimately 100% acceptance at all merchants is our goal.
- notJim 12y agoOne of the problem w/ traditional credit cards is that my interests are not aligned with those of the card issuer. It's better for me to pay off my balance every month, but better for my bank if I don't so they can collect interest. Will this be any different with Final? If so, how do you plan to make money?
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- bryanlarsen 12y agoDon't worry, the banks love it when you pay the account in full every month. They make more money from merchant fees than they do from interest payments. Banks work hard to make sure credit card holders are happy. After all, it's fairly easy to switch credit cards. It's the merchants that have the short end of the stick in the three way relationship between banks, customers and merchants.
- uploading 12y agoSpeaking of which, how will you be different from other small credit cards when it comes to merchant relations? If I go to "Jo Shmo's Taco Shop" am I still going to need a back up Visa card because that's all they are willing to take?
- tehwebguy 12y agoProbably not, my guess is that this will actually be a Visa card. Most Visa and MC cards are branded as such but are actually backed by some other institution, like Bank of America or Chase.
- mcherm 12y agoActually, ALL Visa and MasterCard cards are backed by some other institution. MasterCard and Visa are (well, were: it's more complicated lately) associations of banks.
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- antidaily 12y agoBen Affleck as Batman... thoughts?
- arielpts 12y agoHello. Will Final actually partner with a financial institution to issue a card that I'll have to apply and have its own limits. OR I'll be able to use my own credit card, and Final is just a proxy? Thank you!
- arfrank 12y agoWe're partnering with a banking institution to issue a new line of credit to consumers.
- nlh 12y agoLooks very cool. Few questions off the top of my head: 1) I presume since you'll be an actual credit card, there's an issuing bank behind you somewhere. Are you an actual startup, or is this a "division" of some huge bank trying to appeal to the tech set? Can you talk about who your issuing bank is? 2) ApplePay? Thanks! (I signed up.)
- arfrank 12y ago1) An actual startup, currently graduating from the TS Boulder. Talking with a bunch of banks to see who can get this thing into consumers hands fastest. 2) We'll work with ApplePay 100% (currently its the only way to get to the NFC chip on the iPhone)
- Someone1234 12y agoDo you actually know, for a fact, that you can generate arbitrary card numbers? Meaning have you got an agreement with visa, mastercard, or similar where they allow you to do that. Is there a limit on how many customers/unique card numbers you can have, and is there an inherent cost in gaining a new number (e.g. will accounts be capped at X disposable numbers per Y period). Once you delete a card number how quickly is it returned to the "pool?" And do you re-assign it to a new user requesting a number? Do you think third party web-sites will break because a card number is used twice for two different users (e.g. user 1 and user 2 both have the same number on their accounts, because user 1 let it expire, and then user 2 received it and utilised it). Are you worried that these numbers could be used for fraud or abuse (e.g. unlimited trials).
- faet 12y agoSay hey to matt for me. Why would I use this over something like ApplePay? Do I need a "final card" for each of my credit cards? Or can I tie it into 1 final card (Mostly for online purchases). Or complete new credit card? What do costs look like? Or if it's a new line of credit, do I get reward points/etc? -JT
- rtkwe 12y agoApple Pay requires the vendor to have an NFC card terminal, which won't be universal for a long time if ever. This looks like it'd be usable with a normal credit card terminal.
- deleted 12y ago[deleted]
- Igglyboo 12y ago> Do I need a "final card" for each of my credit cards? Or can I tie it into 1 final card (Mostly for online purchases). Or complete new credit card? Pretty sure this is a completely new card, as in, you apply for a final card then you cut up all your old ones and close those accounts.
- pmontra 12y agoIs it only for US residents? Do you have an Android app?
- sawthat 12y agoLove this idea, however I don't use credit cards (or any other form of unsecured debt). Do you plan to offer a debit card?
- newbeginnings9 12y agoThat's dumb, why wouldn't you use a credit card for recurring purchases and build credit for more spending power?
- qyv 12y agoHow does multiple-number thing work when using the card physically (mag swipe, chip-pin or tap) on current CC processing terminals?
- xexers 12y agoWill it work in Canada
- deleted 12y ago[deleted]
- cdcarter 12y agoWill you be offering cards with any rewards program?
- dagurp 12y agoCan people outside the USA get final? Your website doesn't say.