If you’re tired of sharing your credit and debit card information with every Tom, Dick, and Harry online, try going through Privacy.com. This free service generates virtual debit cards with a number unique to every merchant. So in the event of a data breach of a merchant’s website, thieves can’t get their hands on your real credit or debit card information, saving you the time you may otherwise have to spend repairing your credit in the wake of identity theft.
Getting Set Up on Privacy
“Privacy lets you generate a virtual burner card every time you need to enter your credit card number on the web,” says TechCrunch. “Your actual credit card number stays safe, and you get more control over your online subscriptions.”
Here’s how it works:
1) Go to com and click the sign-up button. They’ll ask for your name, email, address, and date of birth.
2) Connect your Privacy account with your bank account. You do this by providing your bank account login information (i.e., username and password). They also ask for the state where you opened the account.
3) You’ll receive an email from Privacy asking you to verify your email address. I did this on my phone, after which I was told the mobile app was coming soon and that, for now, I would need to use Privacy on my computer.
4) Your bank may ask for extra verification. They emailed me a verification code which I provided to Privacy.
5) If you have multiple accounts connected to the same login, you will be asked to choose which account you want to fund your Privacy purchases.
6) You’ll be asked to sign an e-agreement.
7) You’ll be prompted to get the privacy extension for Google Chrome. A notification will pop up letting you know this has been accomplished
8) Go to your Account. There you can 1) set up Two-Factor Authentication (recommended), 2) set up generic descriptions for transactions on your bank statements, and 3) choose the type of alerts you want to receive about your Privacy account.
And you’re good to go.
Shopping with Privacy
Here’s what we’re told to expect:
- When you go to check out from a merchant, you’ll see the Privacy icon. Click that and it will generate your virtual debit card, complete with number, expiration date, and 3-digit code. Again, this is a unique number that you will not use for any other merchant. As explained by TechCrunch, “
- When making the transaction with a merchant, you do not have to enter your real name or billing address. Any name or address will do. So, there truly is no real information you’re having to share with merchants – no name, no address, no real credit or debit card number.
- As you shop online using Privacy, every number and transaction will be recorded in your Privacy account.
Other Things You Need to Know
This service is free to us because Privacy gets a cut of the interchange fees paid by merchants.
As of this writing, Privacy only works on Chrome and Mozilla Firefox. The banks onboard are also limited, but includes a pretty long list – Bank of America, Capital One 360, Charles Schwab, Chase, Citibank, Fidelity, Navy Federal Credit Union, PNC Bank, SunTrust, TD Bank, US Bank, USAA, and Wells Fargo.
What Do You Think?
Will you try virtual debit cards through Privacy? Why or why not?