Security-conscious GratisCard shows no personal information
By Jeremy M. Simon | Published: March 30, 2007
The new GratisCard is a credit card that shows none of the cardholder's personal information on the plastic itself, helping to prevent any fraudulent use should the card get lost or stolen. The GratisCard, which debuts on April 1, 2007, does not feature a name, card number or physical data on the actual credit card.
Additionally, the GratisCard will be the first U.S. credit card to make use of PIN numbers for all credit transactions. This type of authentication is already widely supported in Europe through what is known as Chip and PIN technology, which is said to be much safer than signature-based transactions.
The GratisCard payment card company is being launched by AOL founder Steve Case and Revolution Inc., Case's investment company.
GratisCard will mainly target merchants like fast food restaurants that process low-cots payments.
A Gartner analyst said the credit card is designed for consumers with bad credit to medium credit and features simple technology to make the credit cards anonymous as well as useless in the event of theft.
Meanwhile, merchants will appreciate the notably lower interchange fees charged for the GratisCard, the analyst added.
- Banks make chargebacks easier to initiate – To dispute a charge, often all it takes is the click of a button on the card issuer's website or app ...
- You may soon be able to buy lottery tickets at grocery checkout – States have to approve shoppers using smartphones linked to credit or debit cards to purchase Powerball and Mega Millions chances ...
- EMV chip card torture test – We put EMV chip credit cards through a series of tests to see how they stand up to common threats such as extreme temperatures, water and corrosive liquids ...