There is a few of these services and they all look awesome. The issue has always been for me that I value my points/miles more than I value the convenience of not worrying about my credit card # being stolen. If I could do this with my SPG card, I would be all over it.
Privacy – Forget Your Credit Card
81–90 of 367 posts
Re: Privacy – Forget Your Credit Card
#82Earlier quoted context omitted.
OK, so that would have protected Ashley Madison users. Because none of the likely interested parties (partners, private investigators, etc) would have leverage to get information from you. Same for users buying porn, unless they get investigated for child porn. That's not a KYC issue, but there will be a subpoena. And I'm assuming that you must comply with all subpoenas. Edit: I wonder what your burden would be in ba…
Ashley Madison and porn users are easy targets. But broadly-speaking, we just think you just shouldn't have to share your personal info with a random merchant you want to buy something from. It's anti-privacy in the guise of being anti-fraud. Yes, we do have to comply with subpoenas.
Yes, I totally agree.
Still, users arguably need to trust you more than they trust traditional credit card companies. But it's about the same as PayPal, I guess. They often do have access to users' bank accounts.
So anyway, I get the point. It's a useful service.
Re: Privacy – Forget Your Credit Card
#83What payer name and address does the retailer see when the transaction goes through?
Re: Privacy – Forget Your Credit Card
#84Hey 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 :)
Are you planning to support 3-D secure?
Re: Privacy – Forget Your Credit Card
#85My biggest question with Privacy, and of any one-time use credit card numbers service, is always: Will it affect my rewards? Will businesses still show up unaffected with the same categories on my credit card statement? (I have a travel rewards only card, so breaking the rewards flow is a deal-breaker for using a higher level service.) Edit: I misunderstood the service as being able to be layered on top of normal cre…
Don't you see that rewards tracking is actually the antithesis of this service?
That's what those "free" rewards really are...getting more detailed information on your spending patterns and profile so they can resell that info to interested parties.
Re: Privacy – Forget Your Credit Card
#86Any plans to support UK cards?
Re: Privacy – Forget Your Credit Card
#87Hey 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 :)
I had a general question about card numbers.
Say there are 3E9 people on Earth, each with 3 cards. That's around 10 digits right there. There's 1 digit for checksum. I imagine you'd want to leave space for least 1000 financial institutions around the world, so that's another 4 digits. Which means you can only have 100 transactions per person.
None of this takes into account the fact that the same people are issued way more than 3 card numbers either.
So my question is, how are we not close to running out of card numbers? How is this not even a problem yet?
Re: Privacy – Forget Your Credit Card
#88So what happens when I have to return something and they put the money back on the card I used to purchase it?
The refund will go directly back to your original funding account.
Re: Privacy – Forget Your Credit Card
#89Is that something that new? My bank (Itaú, in Brazil) offers this option for some time now.
Here(in portuguese): https://www.itau.com.br/cartoes/cartao-virtual/
Or am I missing something?
Edit: They launched it in 2002: http://exame2.com.br/mobile/tecnologia/noticias/itau-agora-t...
Edit2: Sounds new in the US. This is not supposed to be a bragging/snarky comment. Just genuinely surprised as innovation usually come the other way around, from US to Brazil. So Congrats on the launch! Good job, sounds tough to launch it not being a Bank!
Re: Privacy – Forget Your Credit Card
#90I like this, especially the repudiating of the privacy-hostile billing name/address voodoo. But I'd worry about forgoing the traditional protection of credit card chargebacks, and having to rely on debit card terms and direct ACH.
We make chargebacks just as easy. There's a button you can click next to the transaction that will initiate the dispute process - we'll deposit the funds back in your primary funding account and follow up with you, then resolve with the merchant. You're also covered under Visa's zero liability policy.
Sure, but an unauthorized charge is a clear cut case. I'm talking about an authorized charge from a merchant who is later uncooperative for whatever reason. I would think that a longstanding credit card company would have a more account-holder-friendly dispute process, but perhaps this is just a perception you have to overcome. Furthermore with a credit card one never loses the money until they decide to transfer it, regardless of company policies.