Here's a pedantic explanation. So many current services try to remove as much friction as possible in your decision making. This is great for things that are good for us, who wants to waste their time getting something done that improves their life? But what about things we don't actually need or make our life worse?
Friction card aims to allow people to add some more "friction" back into their purchase decisions, giving them time to reflect if something is really in their best interest. Spending past your set daily limit or over your spending limit in certain category or with a particular merchant will result in a declined transaction until further action is taken.
Federal reserve data showed that nearly half of Americans (47%) carried a credit card balance at one point in 2023. Friction hopes to lower that number by giving people the time and tools to reflect on their spending and their budget.
Initially we just viewed this to be a product for people who either wanted to force themselves to stick to a very serious budget or who wanted to force themselves into some healthier habits (online shopping addiction, buying too much fast food etc.). This group is still who we have in mind with development, but we also think parents with kids in highschool or college could find it helpful.