Two companies founded on security and privacy are partnering to make online payments quicker and safer. Password manager 1Password and virtual card platform Privacy.com announced an API integration that lets users create virtual cards in their browser quickly and safely when they need to make a payment.
The FTC reports that credit card fraud is by far the most common type of identity theft, occurring in 41.8% of all identity theft reports. According to Javelin Strategy & Research, which advises card issuers on security banks, merchants and cardholders lost a combined $16.9 billion in 2019 due to credit and debit card fraud.
Privacy.com’s virtual cards mean users never need to share their credit or debit card information online, helping to protect both their money and their identity. Starting today, users can create, use and save Privacy Cards directly within their 1Password extension whenever they’re needed.
All virtual cards created in 1Password will have the same security benefits as other Privacy Cards – users can set monthly or annual spend limits, create single-use or merchant locked cards, and pause or unpause cards whenever they want.
“Partnering with Privacy.com is a no-brainer for 1Password,” said 1Password CEO Jeff Shiner. “We share a total commitment to online safety and privacy, and our goals couldn’t be more aligned. These are brand new features both for password managers and payment services, and I know both teams are excited to be bringing these new capabilities to our customers.
“What I’m happiest about is that this helps everyone, from our family customers right up to the largest enterprises. With ..