The Financial Revolutionist

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1Password taps Privacy.com to allow users to generate virtual card numbers

Password manager 1Password and virtual card payment startup Privacy.com are partnering to allow users to create virtual card numbers for every merchant.

Why should we care?
Virtual card numbers let users mask their true credit card numbers with a “burner number” to use on e-commerce platforms. The tie-up offers Privacy.com access to 15 million 1Password customers, and it’s brand agnostic, allowing customers to use the feature with cards from various institutions. An advantage to the arrangement, according to one industry report, is the seamless integration between the two cybersecurity tools. Customers can also set spending limits for each card, and since each card is locked to a particular merchant, it can reduce the impact of a data breach. Virtual cards give consumers more control of how they pay, and are also offered through some banks and fintechs. Another example of this use case is DoNotPay’s virtual card for free trial offers, in which the virtual card number immediately cancels after a subscription trial period expires.