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Tag: credit card

The “jigsaw puzzle credit card” is the new ultimate invention in credit card security. Refuse to get a new corporate credit card if it doesn’t come with this incredible feature!

Background:

Credit cards are a popular payment method, especially for business transactions.

The issue:

Sometimes, high-value business transactions require the approval of more than one person.

Additionally, if a credit card is lost or stolen, someone will have to meticulously verify that no fraudulent transactions were made on it, which can be very time-consuming!

Proposal:

Both of these problems, and more, can be solved by physically cutting the credit card up into multiple pieces.

Each piece would be held by a different individual, and the card would need to be re-assembled (like a jigsaw puzzle, as in Figure 1) prior to any transaction.

1-credit-card-cut-puzzle.png

Fig. 1: This card can be disassembled into four pieces, all of which would be required in order to either use the chip or read the complete credit card number.

With this “jigsaw puzzle credit card” system, any transaction will be physically impossible without getting the approval of all card-piece holders, thus removing the need for complicated reimbursement systems involving people signing off on business expenses.

As an added benefit, if only a subset of the credit card pieces are stolen, the card will become unusable and the thief will be unable to make any unauthorized transactions.

This would be useful for both business travels and individual users who were, say, traveling to a foreign country with their friends or family.

Conclusion:

It would be possible to make cards in many different styles: for example, a card could be split into only two pieces, or as many as 8 or so before it started becoming impractical.

PROS: Facilitates commerce! Also works with debit cards, ATM cards, library cards, etc.

CONS: Each piece’s unusual shapes would make it difficult to fit into a wallet. Perhaps each piece could be slotted into a plastic “dummy” credit card, thus maintaining wallet compatibility.

Expand the ability of your small business to collect tips using the incredible secrets of UI / UX design plus human psychology!

Background:

In the United States, certain classes of business receive a substantial amount of their total revenue in the form of tips. Restaurants are probably the most common example.

However, now that a huge fraction of transactions are done by credit card or phone, it has become feasible for additional businesses to get in on the tip-collecting process (tip-collecting tablet example in Figure 1).

1-tablet-tip.png

Fig. 1: A lunch truck or takeout restaurant might have a tablet like this one. If designed properly, the user interface should subtly persuade the customer to click one of the tip buttons.

For example, previously, a lunch truck might have had an anemic tip jar—obviously a repurposed peanut butter jar—with 87 cents in it. But now, that same truck can just put a button labeled “TIP: 15%” on their electronic checkout screen, and a substantial fraction of patrons will select that option.

As a thought experiment, consider how many people would tip two dollars on a $10 burrito cash transaction (very few), then compare that to the number of people who would click the “20%” button on an electronic checkout (many more).

(Please appreciate the high-quality market research that went into the preceding sentence.)

The issue:

While the best part of this system is that it allows a normally non-tip-based or non-service business to get tips, there are still stubborn holdout customers who will not include (for example) a 25% gratuity for an oil change, or when buying tomatoes at a grocery store, or when paying a traffic ticket.

But there is still a way to persuade these individuals!

Proposal:

In order to incentivize people to click the tip button (instead of just the “checkout: NO TIP” button), we can simply have a secondary screen that shows the tip amount.

People might object to this brazen attempt to shame them for not including a tip, so we will disguise it a bit by calling it an “Order Confirmation” screen, and using it to provide a customer transaction number (i.e., it is a supplement to the normal “your order is number 326, your burrito will be ready when that number is called” process).

 

2-order-display.png

Fig. 2: Here, we see a checkout counter with the tablet from Figure 1 at the bottom, and a helpful order confirmation screen at the top, showing off a customer’s generosity to other patrons along with a reminder of their order number.

Conclusion:

People might object to having the full dollar value of their transaction visible on the “confirmation screen,” so we could potentially show only the tip percentage rather than the full value.

PROS: Increases previously-untapped revenue streams for low-margin businesses.

CONS: None!

Double your credit rating with this one weird tip, which assumes that a double-sided credit card will somehow also double your credit rating. Maybe credit bureaus have not yet considered this unlikely loophole!

Background:

Many people avoid registering their displeasure with a commercial transaction due to the social cost of confrontation.

Yet, many commercial transactions involve an annoyance of some sort. Perhaps it would be beneficial to both the customer and the company for this displeasure to be known?

Proposal: a two-sided credit card with both “satisfied” and “dissatisfied” sides

If a credit card transaction could also provide instant feedback to a company, this might provide an “early warning” to the company of customer dissatisfaction.

In this example (see Fig. 1), the two-sided credit card is essentially two separate accounts in one; depending on which side is swiped and/or entered in some other fashion, the card will also inform the company that the transaction was satisfactory or unsatisfactory.

card-two-sides

card-flip

Fig 1: This credit card has two sides and two magnetic stripes (or chips). One side is the “happy” side, and one side is the “sad” side. When making a transaction in person, one simply provides the credit card in the desired orientation.

card-happy

Fig 2: For in-person transactions involving a tip (e.g. restaurants in the United States), the credit card could be configured to give a default tip amount as well. This would save the card owner from the annoyance of calculating tip amounts. In this case, the user could configure each side to a custom amount; perhaps the “happy” side would also translate to a 20% tip.

card-angry

Fig 3: Since tipping at American table service restaurants is socially obligatory, having the “angry” side have a low tip would have to be reserved for incredibly awful locations that the patron plans to never re-visit.

Conclusion:

You should write your credit card company today and demand that this feature be implemented.

PROS: Allows even the meekest individuals to register their transaction-related opinions. Saves the trouble of adding the tip to a bill.

CONS: Possibly redundant with Yelp and other review sites. Unscrupulous employees might run the card on the “happy” side no matter what, to boost their own customer satisfaction numbers.