Hiten Shah

Privacy.com - Get a new virtual card for every transaction

by

Privacy.com is an innovative way to protect your personal information over the internet. Are you feeling uncomfortable using your credit card online? Privacy.com has the perfect solution - it creates a virtual card that masks your bank statements for your online payments.

Add a comment

Replies

Best
Danny Fiorentini
How about the underrated genius of the logo though? 💯
Duane Wilson✌️
Glad to see this concept come back around! Hopefully, you do it right. in around 1997-98 the bank I was at launched a version of this, called one-time account numbers - it was very popular even though you had to come to our website, enter all the details of the transaction and get a unique one-time account number to use for that specific transaction on some merchants website... It was cancelled once we had enough data to see exactly what people were using it for... internal code name 'kid porn card' though it was more often drugs... still, lots of porn too. Since you are touting privacy of the transactions how are you monitoring for illegal activity? Eventually, the Feds are going to ask for transactions details. It didn't go well when the NSA asked the encrypted email service for a key they could not (would not) provide - they took the service down. It's a cool idea and could likely stop all kinds of common fraud though banks do a very good job of shutting that down immediately these days. Github is the only website that causes me a problem, every single month I get a fraud alert for that account, they have way too many chargebacks apparently :D @bolingj Given that browsers store card numbers for you so auto-fill is already easy enough plus how good card issuers are these days at real-time fraud protection what is the specific problem that the company is attempting to solve?
Boling Jiang
@helloduane Thanks for the thoughtful post! First off - for folks doing something illegal that may result in a subpoena, this is not the product for you 😬. As a US financial services product we do have to abide by AML / KYC. Broadly speaking, there's 2 points that we think are compelling: 1) We just think that you just shouldn't have to share your personal info with a random merchant you want to buy something from. This notion that passing along your billing info is going some how substantially cutting down on fraud is ridiculous. It's anti-privacy in the guise of being anti-fraud. 2) We like the idea that multiple numbers puts the control back in your hands as a consumer. You can track down and see exactly which merchant stole/leaked your info. You don't have to update all your cards at every site every time your card is used fraudulently. And lastly, you can set limits per card, so you don't have to deal with some shady merchant billing you without consent or slipping in a hidden charge (it happens alot!). Hope that helps!
Duane Wilson✌️
@bolingj lol - yes, that's true - it's not for people doing illegal things but they will do them, and FYI if you are doing something stupid like that then use CASH :D It's a hard thing to say that I should not trust merchant 1 when you are the middle man in the process that is unknown. I would have to have more trust in your company than PayPal, Stripe, Braintree, etc... or Apple/FireFox/Chrome (not that I have much trust in PayPal mind you..) If it were launching in China, Iran, Middle East, etc. then I would agree more with you on the privacy stance.... Ultimately your bank doesn't care what you do as long as you pay your bill (hopefully only a portion of the balance and if at all possible paid late) As for tracking down which merchant did what, the bank, police are going to do that for you - you don't need to worry about it. In general you are covered, bank issues a new card, refunds your money, etc. There is no point knowing it was the car rental place because the employee who stole your card already split or is already in jail once you find out about it from the bank who calls/tests to tell you about a suspicious charge from Cheap'n Easy Car Rental Service Inc. right? None the less will be interesting to see how this goes. Best of luck to you!
Patrick Thompson
Signed up but disappointed that, much like all services that tie into bank account, only the large corporate banks are supported. :(
Jack Smith
this tool looks awesome. I previously paid Blur $5 a month for such functionality, but they started adding in stupid fees and were slow to adopt ACH. @bolingj how do you handle merchants issuing refunds to the cards?
Boling Jiang
@_jacksmith Thanks! Refunds will go directly back to your funding account.
Brian Roach
@_jacksmith same boat here. Dropped Blur when they started tacking on the $2 fee per transaction. They lost a long-term customer overnight. Really was a shame. Stoked to try this one out tho.
Jack Smith
@anodigital yeah, I had been using them for a long time as well. I even requested access to their ACH beta program but months later they still wouldn't onboard me. such a shame. The annoying thing with Blur is that they also tried to do loads of other things like mask all your passwords, so the chrome extension was very intrusive.
Joe Blau
This is awesome. It reminds me of a tool like 1Password; Instead of relying on websites to keep your password safe, you just give them a burner. Now I can do that with my credit card!
Boling Jiang
@joe_blau Thanks Joe!
Christopher Smeder
Whenever I see a compelling product that depends on my sharing my bank account number I am always disappointed. In a world where database breaches are the norm, having your bank account number shared with numerous startups opens me up to a very costly kind of fraud http://www.nbcnews.com/id/791415... I'm really jelous of the sanity around bank account transaction the european countries enjoy. In the US, incredibly we have zero security around this. Once someone has your account number they can drain your whole bank account. I first learned of this danger from Donald Knuth's writings here http://www-cs-faculty.stanford.e... Any plans to add support for using a debit card (even with a fee? I'd be willing to pay)?
J. Christian Bernabe

Privacy is an awesome solution for protecting your privacy/security when you shop online. As cyber breaches continue to be par for the course, I can see this service being of great use for those of us who are security-minded. Please integrate linking credit cards to create burner cards!

Pros:

I love the idea of burner cards, especially if you are into protecting your security and privacy. The Chrome extension is great too.

Cons:

I wish you could create burner cards with credit card accounts, not just with debit cards. I'm waiting for this feature to arrive.

Brandon Bachman

I often use this service to help friends out with small transactions. Where a credit card is needed, most services will accept digital debit.

I can also use these digital debit cards to bind with other digital payment service, at least with Google / Android Pay in my experience so I can put a bound card on hold if Google's digital payment scheme becomes compromised by hackers; then unhold or close and make a new card to bind a new card onto it once issues with the service had been resolved.

For purchases which are of a more dubious nature, or would put into question what you are doing with your money it's also a good way to obfuscate your transactions and make it so you're not revealing all fo your purchasing history to advertisers, should you use your real debit or credit card on a website which would harvest your payment information.

It's a good way to ensure the safety of your money and transactions. Whenever you can, use it; I've had no regrets with it.

While I had not used the service for a year as of this writing, Iam going to continue using it until it's either discontinued or infeasible for how I use it.

Pros:

Payment secrecy, self-made gift cards, account security, responsive support

Cons:

Cannot be used where prepaid debit isn't alllowed (i.e. PayPal)

Liam Murphy
This looks amazing
Jerre Baumeister
Very cool concept! Would love to test this outside the US.