Privacy – Forget Your Credit Card

Post by electic » Fri, Mar 25, 2016, 12:32 AM UTC

BukhariH wrote: post #163

electic wrote: post #126

I signed up for this. Sadly, it is not what I thought it was and the website does not make it very clear. Basically, this is for online purchases only. To make matters a bit worse, it wants to connect to your real bank account. What we need here is a physical credit card that I can use in the real-world that has a new number on each swipe. Most of my historical fraud has happened because I probably swiped my card at…

If you use Apple Pay then that's exactly what you get. A unique credit card number is generated per transaction and passed to the merchant. Not only is it more secure but it also helps protect your privacy against retailers that use your card number to track your purchases across their brands.

Post by loeg » Fri, Mar 25, 2016, 12:33 AM UTC

AznHisoka wrote: post #180

ac29 wrote: post #161

In case anyone didn't catch what this actually costs, the answer is: 1.5-2%, which is the rate you could get cash back (or airline miles/etc) with good credit. Because this service draws directly from your bank account, and takes what would otherwise be your rewards from the credit card fees their banking partners charge, it provides a nice business model for them at the cost of you getting 0% rewards back. Not worth…

In the footer it also says its accepted everywhere Visa debit cards are, NOT credit cards. That's a huge caveat because debit cards aren't as universally accepted as credit cards.

Post by Nullabillity » Fri, Mar 25, 2016, 12:42 AM UTC

wfunction wrote: post #77

boling11 wrote: post #45

Earlier quoted context omitted.

Debit cards are something we're looking towards in the near term, credit cards probably will have to be a premium feature (due to how we make money right now). The numbers can be one-time use (burners) or re-usable at the same merchant.

I've never understood why virtual numbers can't be used across different merchants. Why is this? Are there any that do offer this capability?

Post by reagan83 » Fri, Mar 25, 2016, 12:47 AM UTC

adrianmacneil wrote: post #175

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 :)

How much did you guys pay for that domain? :)

Post by nextos » Fri, Mar 25, 2016, 12:50 AM UTC

thesimon wrote: post #123

r1ch wrote: post #47

Earlier quoted context omitted.

Good to hear! Bring this to Europe and I can see it being very popular, credit cards aren't as common or easy to get here and ordering outside of your local country often requires one. I imagine that's still a long way away though :).

Credit cards are hard to get in Europe? If you are talking about cards with credit line, sure, but debit/prepaid cards are pretty easy to get (e.g. Number26, Monese, Revolut, Fidor etc).