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Final – A credit card built for the 21st century

getfinal.com

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Re: Final – A credit card built for the 21st century

#121

Post by JetSpiegel »

icebraining wrote: post #105
JetSpiegel wrote: post #92

Earlier quoted context omitted.

Portugal has MBnet, with a web interface and an Android app, as I recall. It works as advertised.

I can attest. It supports both "one shot" cards as well as multi-use (with a time limit, up to one year), both with a limit on how much they can be charged. That said, I don't think it has an Android app, just a mobile website. The app that shows in Google Play is just a shortcut to the website (built by an unaffiliated developer). And of course, it doesn't even any of the notification stuff, it's just a gateway to y…

Yeah, I mistook it for the Caixadirecta app, it's a different thing.

MBnet is made by SIBS, the same entity that controls all the ATM.

Re: Final – A credit card built for the 21st century

#123

Post by jeremyjh »

toomuchtodo wrote: post #108
troupe wrote: post #104

Earlier quoted context omitted.

I believe most people would say that when they agree to take money with a promise to repay it, they are under a moral obligation to do so.

So when an individual borrows and fails to repay, there is a moral hazard, but when a business declares bankruptcy and restructure, that's smart business? Debt is a contractual issue, not a moral one. As HackerNews entrepreneurs should keep in mind, its the ability to easily shed debt (and not be shackled to those debts for decades) in the US that creates the environment for startups to take the risks they do.

Who is lending money to startups?

Re: Final – A credit card built for the 21st century

#125

Post by AznHisoka »

pbreit wrote: post #17
Someone1234 wrote: post #13

> Final lets you give a unique credit card number to every merchant, or a disposable one-time use number for one-off purchases. This is something I have been asking for since forever! People on here claimed it was "impossible" because of how credit cards work, I guess not... > Tired of your monthly yoga pants subscription? Or a two-week "free" trial that lasted four months? Just deactivate that card number. It's that…

Disposable credit card numbers have been around for decades. The user experience has historically been miserable. Maybe this will be better. Doubt it.

It's been around, but the most user friendly way I found was through a Paypal plugin but they indespicably removed that years ago. Been looking for a more convenient method ever since. Signed up for Final, looking forward to it. Finally someone that wants to get this right.

Re: Final – A credit card built for the 21st century

#126

Post by sawthat »

arfrank wrote: post #2

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

Love this idea, however I don't use credit cards (or any other form of unsecured debt). Do you plan to offer a debit card?

Re: Final – A credit card built for the 21st century

#127

Post by toomuchtodo »

jeremyjh wrote: post #123
toomuchtodo wrote: post #108

Earlier quoted context omitted.

So when an individual borrows and fails to repay, there is a moral hazard, but when a business declares bankruptcy and restructure, that's smart business? Debt is a contractual issue, not a moral one. As HackerNews entrepreneurs should keep in mind, its the ability to easily shed debt (and not be shackled to those debts for decades) in the US that creates the environment for startups to take the risks they do.

Who is lending money to startups?

Am I not reading often on HN about long-term agreements startups in SFBA are committing themselves to (specifically real estate/office space leases)? That's a debt, and when a startup burns up, any time left on that lease is a debt left unpaid. Debt is not just VC money in hand.

Re: Final – A credit card built for the 21st century

#128

Post by qyv »

arfrank wrote: post #2

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

How does multiple-number thing work when using the card physically (mag swipe, chip-pin or tap) on current CC processing terminals?

Re: Final – A credit card built for the 21st century

#129

Post by jo_ »

hammock wrote: post #84
untog wrote: post #4

Having panned Plastc yesterday, this is like night and day - where Plastc is trying to solve "I have too many credit cards in my wallet" with an overdose of technology, Final is solving an actual real problem (credit card fraud) with an intelligent use of technology. In fact, I don't even want a physical card (chip and pin will make that difficult anyway), I just want an online service that will generate a new credit…

Is credit card fraud really a big problem (for consumers I'm asking, not banks or merchants)? In my experience, chargebacks are pretty easy, debit or credit. Same with reporting a lost or stolen card and voiding any purchase made on it. And every credit card I've ever had has been remarkably proactive about alerting me to possible fraudulent activity.

There's also an issue of anonymity and trust. There are plenty of websites from which I'd like to make purchases (some of an unflattering disposition) that may continue to bill after cancellation requests (because they know nobody would take them to court for fear of having their names associated) or that I just don't want bound to my name.

How many times have you found yourself shying away from a site because you were worried about what they'd do with your credit card number? This isn't a perfect solution (especially with the limited pool of numbers), but it's nice.

Re: Final – A credit card built for the 21st century

#130

Post by rtkwe »

faet wrote: post #106
arfrank wrote: post #2

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

Say 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

Apple 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.
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