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Company type | Private |
---|---|
Industry | Computer software, Internet, Personal finance |
Founded | 2010[ citation needed ] |
Founder | Yaron Samid (CEO), Raphael Ouzan (CTO) [1] |
Headquarters | , |
Products | Rich web application, Mobile application |
Website | www |
BillGuard was a personal finance security and productivity company. Its mobile and website application scans credit card and debit card transactions, alerting users to possible scams, billing errors, fraudulent charges and hidden fees. [2] [3]
As of October 2014, BillGuard reports it has flagged over $60 million of suspect charges on behalf of its
users, drawing from over $1 billion of monitored transactions. [4] [5] [6]
In September 2015, BillGuard was acquired by Prosper Marketplace. [7] [8] BillGuard was renamed Prosper Daily.
On August 31, 2017, Prosper ended Prosper Daily service, suggesting as alternative the Clarity Money app "which offers many of the same features as Prosper Daily." [9]
BillGuard was named "one of the top online banking innovations of all time" by MarketConsensus. [10] and a “Top 10 Tech Company” by American Banker. [11]
BillGuard is also ranked as the "Top 2015 Most Powerful Financial Protection App" by AdvisoryHQ News. [12]
In July 2013, BillGuard released a free iPhone app that encouraged users to take a more active role in monitoring their charges than the company's previous ‘set and forget’ web application. [13] [14] In May 2014, BillGuard released a free Android app. [15]
BillGuard sent personalized data breach alerts that notified users if they've shopped at a merchant who has been breached. [16]
BillGuard drew upon a combination of crowdsourced feedback from its users, data from the Consumer Financial Protection Bureau, complaints posted across the Internet, and its own algorithms to determine what charges to bring to users’ attention via email and smartphone push alerts. [17] [18]
BillGuard Resolve directly connected merchants with customers who wish to inquire about the merchants’ charges on their cards. [19] BillGuard FI for financial institutions aimed to lower those institutions’ transaction inquiry and dispute processing costs. [20]
The company was founded in 2010 by Yaron Samid (CEO) and Raphael Ouzan (CTO), with $3 million in seed funding from Bessemer Venture Partners, Founder Collective, SV Angel, IA Ventures, Social Leverage and Yaron Galai. [21]
BillGuard launched at TechCrunch Disrupt New York in May 2011, where it won the 2nd place prize. [22] In 2011 the company raised a $10 million financing round from its seed funders plus Vinod Khosla’s Khosla Ventures, Peter Thiel’s Founders Fund and Eric Schmidt’s Innovation Endeavors. [23] BillGuard was awarded the "2011 Big-Data Startup of the Year" at the O'Reilly Media Strata Conference, [24] and won ‘Best of Show’ at the Finovate conference in both 2011 and 2012. [25]
The Jerusalem Post writer Joseph Sherman notes: "Business Schools around the world study how the Rothschild family transformed the world of international banking. In a practical spin on the story, today, on Rothschild Boulevard in Tel Aviv, Raphael Ouzan is living his dream in Israel as the co-founder and Chief Technology Officer of a start-up that is changing how consumers monitor their credit and debit card spending, and helping us get our money back from unwanted and deceptive charges." [26]
In July 2013, BillGuard and the Aite Group released a comprehensive Grey Charges report that found in 2012 U.S. cardholders received over $14.3 billion in deceptive and unwanted credit and debit card charges. [27] According to the report, one in three American card holders receives at least one grey charge each year, at an average of $215 per person per year. [28] [29] [30] [31]
PayPal Holdings, Inc. is an American multinational financial technology company operating an online payments system in the majority of countries that support online money transfers; it serves as an electronic alternative to traditional paper methods such as checks and money orders. The company operates as a payment processor for online vendors, auction sites and many other commercial users, for which it charges a fee.
Credit card fraud is an inclusive term for fraud committed using a payment card, such as a credit card or debit card. The purpose may be to obtain goods or services or to make payment to another account, which is controlled by a criminal. The Payment Card Industry Data Security Standard is the data security standard created to help financial institutions process card payments securely and reduce card fraud.
A credit card is a payment card, usually issued by a bank, allowing its users to purchase goods or services or withdraw cash on credit. Using the card thus accrues debt that has to be repaid later. Credit cards are one of the most widely used forms of payment across the world.
Block, Inc. is a U.S. listed company founded by Jack Dorsey and Jim McKelvey in 2009. It is a financial technology conglomerate. The company reportedly serves 56 million users and 4 million businesses, and processes payments worth US$228 billion annually as of 2023.
LevelUp is an American mobile ordering and mobile payments platform created by Boston, Massachusetts–based start-up SCVNGR. On July 25, 2018, it was announced that LevelUp would be acquired for US$390 million by Grubhub, an online food delivery platform.
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Numbrs Personal Finance AG is a financial technology company based in Switzerland. The company offers an app called Numbrs that aggregates bank account and credit card information and facilitates mobile banking and personal financial planning.
LendUp was an American online direct lender. It offered payday loans, installment loans, and credit cards to consumers with low credit scores using publicly available data to assess creditworthiness. The company referred to its customers as “the emerging middle class.” LendUp also issued credit cards in partnership with Tom Steyer's Beneficial State Bank.
Lemon Wallet was a cloud-based digital wallet that allowed users to store digital copies of credit cards, debit cards, reward cards, as well as identification, and other card information. The service was released in July 2011 and the company is based in Palo Alto, California, United States. Wences Casares was the company's CEO.
Zettle by PayPal is a Swedish financial technology company founded by Jacob de Geer and Magnus Nilsson in April 2010. Launching its first app and service in 2011, the company offers a range of financial products including payments, point of sales, funding and partners applications. The company was acquired by PayPal in 2018.
A Universal Card was a concept in the early 2010s for an electronic card with the same form factor as a magnetic stripe card that was capable of emulating any magnetic stripe data card. Data would be stored either in the card, or on a smart phone that communicates with it. It would allow consumer to consolidating their credit, debit, membership, loyalty, gift cards and other forms of magnetic stripe data cards into one card. Certain universal card products also added an extra layer of security to protect their cards against theft.
Venmo is an American mobile payment service founded in 2009 and owned by PayPal since 2013. Venmo is aimed at users who wish to split their bills. Account holders can transfer funds to others via a mobile phone app; both the sender and receiver must live in the United States. Venmo also operates as a small social network, as users can observe other users’ public transactions with posts and emoticons. In 2021, the company handled $230 billion in transactions and generated $850 million in revenue. Users can view transactions on the Venmo website but users cannot complete transactions on the website and you will need to complete transactions on a mobile phone using iOS or Android.
Revolut is a global neobank and financial technology company with headquarters in London, UK that offers banking services for retail customers and businesses. It was founded in 2015 by Nikolay Storonsky and Vlad Yatsenko. It offers products including banking services, currency exchange, debit and credit cards, virtual cards, Apple Pay, interest-bearing "vaults", personal loans and BNPL, stock trading, crypto, commodities, human resources and other services.
Monzo Bank Limited, trading as Monzo, is a British online bank based in London, England. Monzo was one of the earliest of a number of new app-based challenger banks in the UK.
Raphael Ouzan is an Israeli technologist and entrepreneur. The recipient of Israel's President's Award for Technology and Innovation, he is the co-founder of BillGuard and the founder and chairman of Israel Tech Challenge.
Zeta is a next-gen banking tech company by founders Bhavin Turakhia and Ramki Gaddipati in 2015. The company provides credit and debit card issuer processing, BNPL, cloud banking, and "mobile experiences". Zeta provides its products to banks and fintechs globally.
Curve is a payment card that aggregates multiple payment cards through its accompanying mobile app, allowing a user to make payments and withdrawals from a single card. It lets you "switch the bank card you paid with after each transaction is complete." Curve named this feature "Back in time".
Affirm Holdings, Inc. is an American public company founded by PayPal co-founder Max Levchin in 2012. It is a fintech company with a buy now, pay later service for online and in-store shopping. Affirm leads the U.S. buy now, pay later sector, reporting over 18 million users and US$20.2 billion annual GMV as of 2023.
Current is an American financial services and software development company (FinTech) based in New York City. It provides mobile banking services through its partner bank, Choice Financial Group.
GoHenry is a US and UK-based financial technology company, that provides a Visa debit card and financial education app for children aged 6 to 18.
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(help)Business Schools around the world study how the Rothschild family transformed the world of international banking. In a practical spin on the story, today, on Rothschild Boulevard in Tel Aviv, Raphael Ouzan is living his dream in Israel as the co-founder and Chief Technology Officer of a start-up that is changing how consumers monitor their credit and debit card spending, and helping us get our money back from unwanted and deceptive charges.