An exciting new virtual credit card service has been launched by tech start-up ‘Privacy.com’. Its purpose is to provide a service that allows customers to keep their real credit card number safe while getting the same control over their purchases made online.
The virtual credit card is used from either a Chrome browser extension or mobile app, which is handily available for both iOS and Android. Privacy use a ‘Burner’ approach for their virtual cards, meaning that it randomly generates credit card number for every purchase which can be used only once, after that, it’s completely ineffective. Using this method means that if your virtual credit card details were in some way compromised, it couldn’t be used for any future purchases, potentially resulting in cutting fraudulent payments.
When a Privacy users go to complete their online transaction, a tiny icon will appear next to the credit card form; upon clicking this it automatically generates a new virtual Visa debit card specifically for this store.
Aside from single-use virtual credit cards, Privacy users can also create an unlimited number of single or multiple-use cards. Privacy also allows it’s users to create merchant-specific cards, such as payments for Netflix, Amazon and Spotify.