New Credit Card Feature to Reduce Identity Theft

Feb 20, 2015

Consumers with credit cards will soon have a safe method to alleviate credit card fraud. Final, a new credit card, will minimize the risk of data breaches by setting spending caps and producing virtual card numbers for each specific merchant.

The new take on credit card security can make spending easier and safer as consumers shift to more digital transactions.

Currently being tested by a limited number of consumers, Final will operate on Visa Inc. or MasterCard Inc. Focusing on integration rather than creating a payment method outside of existing networks, Final will not need to explicit merchant adoption or require any hardware upgrades.

Following the latest credit card tech trend, Final will also have a chip for Europay-MasterCard-Visa (EMV) transactions as well as a magnetic stripe. The cardholders will also be able to use a companion app to manage the card online.

In addition, the Boulder, Colorado-based Final is focusing on the consumer experience of their product. Ben Apel, co-founder of Final, states that, “For a Final user, the payment experience for in-person, card-present transactions is no different than what they are currently doing to pay at a retailer”. The significant difference is their online payments and the ability to generate unique numbers for each transaction.

Final card users will be provided unique card numbers for specific merchants, hence, if a particular merchant is breached, only that card number will have to be replaced and no other information will be compromised. The security will bring a new level of protection as more people are choosing digital transactions in this day in age. Smarter and safer methods for paper-less transactions are continuously evolving to minimize apprehension and to maximize spending habits.

While Final card is still in the testing stage, traditional methods to process credit cards are still safe for merchants and consumers. At you can begin your high risk credit card processing with reassurance that all transactions can be monitored with the online management tool. Don’t let identity theft scare you from accepting credit cards for your business. has already helped thousands of merchants set up a safe and easy processing system.

Final card is focusing on a large facet of the identity theft issue in the credit card industry. Going straight to the entry point of the culprits, this new method of credit card safety is a faster way of closing card numbers if the merchant is compromised, without having to replace the entire card. Expect to see the Final card in the coming years as it becomes available to the public.

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Having a merchant account allows an account holder to take advantage of merchant cash advances. When a merchant is approved for an advance, the business agrees to receive a lump sum of cash in exchange for an agreed-upon percentage of future credit card sales.

Pricing varies depending on the merchant’s industry, past credit card processing history, the type of business seeking the account, average ticket sales, and average transaction volumes.

Yes, EMB works with merchants who are building their credit, as well as those who have poor credit. EMB also approves merchants that have no credit card processing history and businesses that have lost their merchant accounts due to high chargebacks.

Several factors influence a merchant’s risk level. Though only one factor likely will not get a merchant classified as high risk, a combination of these may: business size, location, and industry, credit score, credit card processing history, a industry’s reputation for excessive chargebacks, a prior history of high chargeback ratios, and whether a merchant exclusively sells online.

Virtual terminals are stationed on a merchant’s website, making it easy for customers to make a payment or purchase online. Merchants or a payment processor can easily set up virtual terminals, so online businesses can accept credit and debit card and e-check transactions.

A merchant account is a business account with an acquiring bank. Without this business account, which actually works more like a line of credit, a merchant cannot accept and process credit and debit card transactions. Businesses need a merchant account to accept major credit cards via a static point-of-sale terminal, mobile card reader, or through a virtual payment gateway.

After filling out EMB’s simple online application and submitting any necessary, requested documents, many merchants get approved within 24 and 48 hours.

EMB specializes in working with high-risk merchants. EMB works with many merchants, including but not limited to businesses in these industries: gambling and gaming, adult entertainment, nutraceuticals, vaping and e-cigarettes, electronics, tech support, travel, high-end furniture, weight loss programs, calling cards, e-books and software, and telecommunications.

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