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Privacy – Forget Your Credit Card

privacy.com

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Re: Privacy – Forget Your Credit Card

#31

Post by vinay427 »

__d wrote: post #19
mih wrote: post #16

Earlier quoted context omitted.

Don't think they ask for banking username and password. They only state they will directly debit it from your account, which does not require sharing your bank credentials. All you probably need is a one time authorization for them to be able to debit.

I just got part-way through the signup, and didn't fund my account because of this issue. Maybe different for other banks, but this was the requirement for Chase.

In my experience, bank logins are used for instant verification of funding. For example, Robinhood uses it likely to verify legitimate users for its $1000 instant funding service.

Re: Privacy – Forget Your Credit Card

#32

Post by mirimir »

bisRepetita wrote: post #12
boling11 wrote: post #4

Hey HN - Privacy.com co-founder here. I'm really excited to share what we've been working on for the past year and a half or so. We've been neck-deep in payments stuff on the card issuing side (getting a BIN sponsor, ACH origination, etc), so happy to answer any questions on that front as well. P.S. For new users, your first $5 donation to watsi.org is on us :)

This sounds awesome. I really hope you will be successful!! What do you do when you get subpoenaed? Do you link all the accounts to the real identity? Lavabit-style exit?

Yes, that's my question too :)

I'm pretty sure that KYC trumps privacy, in this case :(

Lavabit wasn't doing financial transactions. Openly, anyway.

Re: Privacy – Forget Your Credit Card

#33

Post by boling11 »

bisRepetita wrote: post #12
boling11 wrote: post #4

Hey HN - Privacy.com co-founder here. I'm really excited to share what we've been working on for the past year and a half or so. We've been neck-deep in payments stuff on the card issuing side (getting a BIN sponsor, ACH origination, etc), so happy to answer any questions on that front as well. P.S. For new users, your first $5 donation to watsi.org is on us :)

This sounds awesome. I really hope you will be successful!! What do you do when you get subpoenaed? Do you link all the accounts to the real identity? Lavabit-style exit?

Thank you! We do have to abide by US AML / KYC laws as we are working with a sponsoring bank. We plan on releasing transparency reports on a regular basis.

Re: Privacy – Forget Your Credit Card

#34

Post by ginkgotree »

boling11 wrote: post #17
ginkgotree wrote: post #6

Hey! Such a great idea! Any chance you guys will work with Amex soon? I use my Platinum and Delta cards for everything.

Unfortunately it probably won't happen for awhile :(. We're a free service, and make money off the interchange from issuing these cards. Amex and high points cards are really expensive to accept funding from.

Got it. Would it help you to know I'd be willing to pay for something like this for all of my cards? That may be a good freemium model to explore.

Re: Privacy – Forget Your Credit Card

#35

Post by boling11 »

jdc0589 wrote: post #22
boling11 wrote: post #4

Hey HN - Privacy.com co-founder here. I'm really excited to share what we've been working on for the past year and a half or so. We've been neck-deep in payments stuff on the card issuing side (getting a BIN sponsor, ACH origination, etc), so happy to answer any questions on that front as well. P.S. For new users, your first $5 donation to watsi.org is on us :)

Is the browser extension something you plan on requiring?

Nope!

Re: Privacy – Forget Your Credit Card

#36

Post by jasode »

dsl wrote: post #14
boling11 wrote: post #4

Hey HN - Privacy.com co-founder here. I'm really excited to share what we've been working on for the past year and a half or so. We've been neck-deep in payments stuff on the card issuing side (getting a BIN sponsor, ACH origination, etc), so happy to answer any questions on that front as well. P.S. For new users, your first $5 donation to watsi.org is on us :)

Many virtual cards before you have ran into issues of being flagged as prepaid or single use cards and having their BINs blacklisted by merchants. How will you be combatting this?

>ran into issues of being flagged as prepaid or single use cards

I generate Citi's virtual credit card numbers every month for numerous online shopping payments and I haven't run into issues.

It seems that it's not possible to determine if a card is a virtual number by parsing the digits.[1] Do you have other information stating that merchants know how to reject virtual cc numbers?

[1]"As there is no way for a merchant to identify a card as virtual up-front," https://support.cybersource.com/cybskb/index?page=content&id...

Re: Privacy – Forget Your Credit Card

#38

Post by boling11 »

ginkgotree wrote: post #34
boling11 wrote: post #17

Earlier quoted context omitted.

Unfortunately it probably won't happen for awhile :(. We're a free service, and make money off the interchange from issuing these cards. Amex and high points cards are really expensive to accept funding from.

Got it. Would it help you to know I'd be willing to pay for something like this for all of my cards? That may be a good freemium model to explore.

That is great to know! If we do add support for credit cards, it would probably be as a sort of premium feature.

Re: Privacy – Forget Your Credit Card

#40

Post by The_Magistrate »

sp332 wrote: post #28
cordite wrote: post #5

The stop subscriptions aspect really stood out to me, I had to spend 40 minutes on the phone with that darn company to get things canceled, even though I only used it for one day for an hour.

It's important to remember that just cancelling a payment method doesn't necessarily mean you're unsubscribed. If you're still getting a service, you're still on the hook for paying for it one way or another.

If this is true, then Privacy.com doesn't resolve this obligation. The temporary card number won't be chargeable by the merchant, but you'd still be on the hook for the renewed (and unpaid) service.
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