Thursday, July 12, 2012

A Personal Finance App That Protects Your Credit Cards - Business ...

BillGuard is the innovative service that protects your credit card accounts from fraudulent charges by alerting you to possible suspicious activity, above and beyond the automatic protections your bank may have in place. As CBS recently suggested, "We recommend using BillGuard to monitor your credit card statements."

The service is currently free to protect up to three of your credit cards, and a plan to protect up to 10 credit card accounts is $79 annually.

Here's the Q&A I just did with their Chairman and CEO, Yaron Samid.

? Since we last spoke, how has BillGuard been received by the public? Is it growing quickly enough?

People absolutely love BillGuard. There's very few things that people get more emotional about than their money. We're in the business of protecting it and the appreciation of our users is something special. We hope to make an exciting announcement at the end of the year regarding the growth our national bill monitoring and resolution network.?

? Given all the possibilities for fraudulent charges that BillGuard highlights, is plastic still the best way to make purchases??

Besides cash, plastic is still the most ubiquitous way of making and receiving payments and that?s not going to change any time soon considering 200M Americans carry an average of 3.5 payment cards in their wallets. In that sense it?s the best way to make purchases but it?s certainly not the safest. It's an incredibly exciting time for mobile payments but along with it comes a Pandora's box of potential abuse. When anyone with a smart phone can become a merchant, the need for a people-powered finance security solution like BillGuard becomes even more critical.?

? Any plans to offer BillGuard as a mobile app with push notification alerts and so forth? Any new features on the horizon that you're especially excited about??

Yes! BillGuard is a classic use-case for high value mobile push notifications and quick 1-thumb review of transactions. We expect to release our first mobile app in Q3 of this year.?

One of the many upcoming features I'm personally excited about phone bill support because I never check my phone bill and know that I'm overpaying it every month. Unauthorized charges on phone bills, known as "cramming", is a $2 billion/year crime according to the US government.

Yaron Samid is Chairman and CEO of BillGuard. David blogs about personal finance and credit card deals at Credit Card Outlaw.

Source: http://www.businessinsider.com/a-personal-finance-app-that-protects-your-credit-cards-2012-7

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