True Link Financial
True Link is a fraud protection service that protects the elderly from black- and gray-market scams, a $100b/yr problem. The service is currently available on a Visa card issued by the company, but will be expanded to checks and credit cards issued by both True Link and third-party financial institutions. Issuing cards to 11m cognitively-impaired elderly people is an existing $1.9b revenue stream, and current issuers (Wells Fargo, Chase, …) license software rather than building it, so would partner rather than competing.
When an elderly person swipes the True Link card, the transaction is routed over the Visa network to our servers. There, we compare it to personal spending limits, restricted categories, and a continuously updated fraud database. So when you're out paying bills, getting ice cream, or shopping with friends, True Link works just like any other Visa card. But if someone is trying to take your money, we decline the transaction, alert the family, and keep your money safe.
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