NEW YORK—Goldman Sachs may soon join the credit card business. The banking and investment firm has acquired Final, a credit card startup.
“Aaron Frank, the founder of Final, announced in December the closing all Final Visa credit card accounts, but did not offer an explanation as to why,” reported Bill Hardekopf, CEO of LowCards.com. “Final, which issued virtual cards, advertised itself as a more secure payment option, as it allowed cardholders to use a unique credit card number for every merchant and the ability to deactivate card numbers. Since card numbers were constantly changing, consumers did not need to worry about their permanent card details being stolen in a breach.”
As a part of the deal, engineers and production managers who created the first Final card will join the Goldman Sachs team.