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'Final' will allow iPhone users to easily create a new credit card number for each retailer

Focused on security and convenience, the newly announced "Final" creates a unique credit card number for each retailer a customer does business with, and allows users to easily generate a new number using either their iPhone or a traditional, physical card.




Unveiled this week, Final is billed as a "credit card, a mobile app, a better credit experience, a consumer advocate, and a way to protect your account from fraud, breaches, and card cancellation." In addition to a physical card with Chip & PIN security that can be used in person, users will also be able to generate new credit card numbers with an accompanying iPhone app for online and virtual purchases.

The unique, vendor-specific credit card numbers created by Final can be for just a one-time use, or they can be persistent to allow ongoing charges. This helps to prevent fraud and any potential unexpected charges.




Final will also tightly integrate with the iPhone by allowing users to create monthly payment limits for each merchant they do business with. In the event that a merchant goes over a custom-set limit, iPhone users will receive a push notification alerting them of the spending.

The Final card will also offer detailed budget breakdowns, allowing users to see where they are spending their money. The service also allows users to receive real-time transaction receipts pushed to their iPhone. And users can also limited their ability to spend based on their personal budget.



A browser extension is also planned, allowing users to automatically create a new number in one click and auto-fill payment fields on a merchant's website. Final will also reportedly work with NFC-based digital wallet services, though it didn't specifically address the forthcoming Apple Pay service.

Final is now accepting signups for a beta test the company plans to launch in early 2015, but cautioned that a first-quarter launch "depends on many variables."