Bank of America, Chase, and Citi bank now allow you to generate credit cards on the fly, with a limited amount of money. What are the benefits?
- When making online transactions, you don't need to divulge your actual credit card number, which prevents fraud. Even if the temporary card is hacked, it will cease to be valid when a new card is generate
- You can limit the amount of money you put on the card. The issue: This is currently tedious to use. Bank of America has a clunky interface, and this option is tucked away in a corner. Also, you need to go to bank of america, generate the card, manually copy and enter it onto websites.
What it does
Generate a temporary credit card on the fly using apple pay, that can be used for shopping online or over the phone.
How we built it
Challenges we ran into
Accomplishments that we're proud of
What we learned
What's next for Cardmill
Integration with sinch for making calls through the app. The card number can be automatically given to the retailer.