Identity theft is a big issue. If you talk to anyone who has been a victim of that particular crime you can get a feel for how incredibly disruptive it can be to your life.
What if a credit card company came along and changed things up to help protect consumers? What are some of the things they would have to do to keep their cardholder’s identity safe?
For starters they would have to remove information like card holder names and account number from the card, right?
Sound crazy, doesn’t it?
Well there is a new credit card company that is doing that very thing.
Revolution Card is a new credit card that leaves the account number and card holder name off of the card.
I think they may very well be on to something. Sounds a little like the PayPal of credit cards.
For those of you unfamiliar with PayPal, it is a system that makes money transactions via email. The person you send or get money from only sees your email address. Your financial information is theoretically much more protected because you can change the email address associated with your account.
In the same way the Revolution Card uses a pin number for each transaction. And they even allow you to create temporary pin numbers. That can be a useful feature for one time purchases, dealing with unfamiliar merchants, and when working online.
I suspect we will be seeing much more of Revolution Card in the future.
Thanks to Valeria Maltoni who shared about this in Fast Company.