We do take customer privacy and security very seriously, and have worked hard to have similar data security safeguards as larger companies like Square and Stripe (both places I've worked, so I would know!). You can read more about some of our security practices here. https://privacy.com/security
I've tried putting mine in, but it says (rightly) that it's an invalid SSN.
It sounds like Privacy is falling into KYC territory and is not able to farm it off to the host banks. But then any limitations around requiring SSN are due to their implementation, and not to the KYC requirements.
Regardless all citizens are eligible and should be given an SSN if they apply.
I don't know if it's something you have to apply for, I was 20 when I moved to the US so my parent handled all the paperwork. Just wanted to float that SSN != citizenship.
This feels like a "you always become what you once hated" situation. Privacy.com was supposed to keep our private data private. With this change there is no way to use Privacy.com without providing even more private data.
This really should have been a choice for users. Do you want privacy or better compatibility? Considering Privacy.com's userbase and their freaking name, I would guess many users would choose privacy over that extra functionality.
With modern fraud prevention and financial regulation, we simply cannot expect actual privacy with payments or really any finance.
I agree that as a potential customer my main interest is about credit card theft/abuse.
(This does make me wonder if they are mis-marketting focusing on privacy, instead of controlling damange of credit card theft, and sketchy merchants who charge you reoccurring charges you didn't realize/have trouble canceling, etc. That's my interest).
Also fraud detection systems will often track the type of purchases associated with a particular card number, to detect anomalies. So I suppose your privacy is somewhat protected from that, but the e-commerce sites probably already know who you are.
As I commented in a thread below, I had started using your service connected to a debit card via my credit union. Then was required to attach a bank account/routing number as the source for funding and didn't receive an adequate answer as to why (which is fine, but it's slower to process and it requires that I provide more sensitive information). I get that Privacy is obligated to gather certain financial information for regulatory purposes and fraud prevention, but it feels like I'm widening my attack surface providing that info.