March 24, 2016
Privacy.com is a company focused on creating elegant technology that enables companies and consumers to protect themselves online.
Today, they are launching a new and very useful service that will allow online shoppers to be protect themselves and their financial information. It works by providing users a new card number for every transaction they make, which is a strong way to protect them from card fraud, data breaches, and identity theft.
Users can utilize the app or the service’s website to make a one-time burner card, which voids after one transaction. Alternatively, a virtual Visa card can be created, which is connected to the user’s bank account. It is also possible to create merchant-specific cards, such as one just for Netflix or Amazon.
On top of self-destruciting card numbers, users have the option of keeping their virtual card number or setting it to expire after a certain amount of money has been spent. Visa has a guarantee in place against fraudulent transactions, and two-factor authentication is built into the service.
In order to use this service, users just need to install the Privacy browser extension (available for Google Chrome and Firefox). After they have signed up for an entirely free account. From there, whenever users are shopping and check out on any website, the Privacy icon will appear in the credit card form at checkout. Clicking it will create a new card, and the fields on the form regarding the card will be auto-filled (the name and billing address fields are filled by the users).
After the transaction is completed, Privacy withdraws the money from the funding account chosen by the user, just like would happen with a normal debit card. Using Privacy’s website or the mobile app, users can pause and cancel cards, set charge limits and take full control of their payments, getting a general picture of the latest transactions.
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