LifeLock Creates New Credit Card Management App ‘Identity’
LifeLock, the identity theft protection company, has developed a new application to help consumers manage their credit cards. Known as Identity, this app is designed to let consumers view online accounts for their credit cards and seamlessly update information as it changes, such as getting a new address or credit card number.
There are several convenient features in Identity. First, users can log into their online credit card accounts through Identity and update contact information for all of them simultaneously. For instance, if you move to a new address, you can enter the new address into the app and Identity will change it for all of your online card accounts.
Another Identity tool is the ability to see which businesses have your credit card information stored online. Many consumers store a “card on file” to make bill payments and online shopping as quick and efficient as possible. Identity displays which companies have your information. If you get a new credit card number, you can update it for all those websites at the same time using this app. This is particularly useful for automatic bill payments that may impact your credit if you forget to update your payment information.
Identity may give LifeLock a chance to restore consumer confidence in its products. In June 2014, the company had to remove its mobile wallet app from the market because it did not meet the Data Security Standard. The CEO insisted this was not the result of a security breach, but rather a precaution to protect consumers from future threats. The company has shied away from developing new mobile products, until the introduction of Identity.