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Privacy – Forget Your Credit Card

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Re: Privacy – Forget Your Credit Card

#261

Post by luserek »

mahyarm wrote: post #107
boling11 wrote: post #27

Earlier quoted context omitted.

Totally understand it's sensitive, and it's cool if you're not ready to trust us with that yet. That's something that we plan to earn and don't take for granted. Eventually we do plan to allow debit card funding.

Why not let people directly put in account numbers then? Lets users avoid online bank account liability but has the same effect.

That would make sense :) Anyway, I checked my bank agreement (page 15...)

> You agree to: 1) keep your password secure and strictly confidential, providing it only to authorized signers on your account(s); 2) instruct each person to whom you give your password that he or she is not to disclose it to any unauthorized person; and 3) immediately notify us and select a new password if you believe your password may have become known to an unauthorized person. We may suspend or cancel your password even without receiving such notice from you, if we suspect your password is being used in an unauthorized or fraudulent manner

Re: Privacy – Forget Your Credit Card

#265

Post by newman314 »

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 :)

Two questions:

* Can I use your card to pay for FreedomPop?

* Can I pay for your card using prepaid credit?

Re: Privacy – Forget Your Credit Card

#266

Post by BHSPitMonkey »

NO_CHANGE wrote: post #182
lambda wrote: post #170

Earlier quoted context omitted.

This has been around in the US for quite a while in various forms, but it seems like it has never really caught on.

I used to make new virtual numbers from Wamu for each online transaction, setting $ and time limits. Only later did I read that those "one-time" numbers could be charged more than once and the expiration dates didn't matter. That's why I skip this extra useless step these days.

That still gets you the ability to figure out who leaked your card number, and presumably a way to manually revoke the number without hosing the whole card.

Re: Privacy – Forget Your Credit Card

#267

Post by ipsin »

URSpider94 wrote: post #224

I think people are over-thinking this offering a little too much. People who are asking if the company will resist a subpoena, or if all customer data will be irreversibly encrypted, are expecting too much. The main purposes of this product are to be able to mask your marketing data (name, address, phone) to businesses, and to mitigate damage in the event of a data breach (any stolen card numbers are useless). It's n…

I think it's just a sign of the appetite for real financial privacy, which is not possible in the U.S. because of money laundering and "know your customer" laws.

There's no such thing as a "prepaid, anonymous credit card" that can't be linked to you as a person.

Re: Privacy – Forget Your Credit Card

#268

Post by nmat »

soneca wrote: post #89

Is 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 t…

In Portugal we have had this service for many years and it works regardless of the bank (https://www.mbnet.pt in portuguese). Most people I know always generate one of these cards for online shopping, it's safer and easier to control.

Re: Privacy – Forget Your Credit Card

#269

Post by Splines »

soneca wrote: post #89

Is 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 t…

High level question about virtual cards and the implication of their implementation: 16 digits doesn't seem like a very high number of available cards, especially since at least two of those numbers are reserved (checksum and IIN number). At some point numbers are going to be recycled, right? Or am I massively underestimating the # of credit cards out in the world? It seems like if a large # of people get a new # for every transaction that it would use up the available namespace pretty quickly.

Re: Privacy – Forget Your Credit Card

#270

Post by exclusiv »

ipsin wrote: post #267
URSpider94 wrote: post #224

I think people are over-thinking this offering a little too much. People who are asking if the company will resist a subpoena, or if all customer data will be irreversibly encrypted, are expecting too much. The main purposes of this product are to be able to mask your marketing data (name, address, phone) to businesses, and to mitigate damage in the event of a data breach (any stolen card numbers are useless). It's n…

I think it's just a sign of the appetite for real financial privacy, which is not possible in the U.S. because of money laundering and "know your customer" laws. There's no such thing as a "prepaid, anonymous credit card" that can't be linked to you as a person.

Yes there is. You can buy prepaid cards at grocery stores or malls, although privacy generally erodes when you want to ship.
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