| PrivateBuy.com allows consumers to buy whatever they want, anywhere on
the Web without revealing personal or credit card information to
merchants. PrivateBuy is a private debit
account which enables anonymous, secure purchases online. It requires no
special software or downloads and any eRetailer that accepts credit cards
can process PrivateBuy transactions.
"Internet privacy is an important issue with consumers. Some
individuals are reluctant to interact online because they want to
protect personal information, and they are ideal targets for solutions
that meet this demand,'' said James Van Dyke, Senior Analyst, Jupiter
Communications. "Solutions with privacy and anonymity features address
this need and will help drive consumers to transact online.''
To use the service customers must first enter their personal
information through the PrivateBuy.com website [so if you are worried
abut entering your credit card information over the Internet, why would
you be willing to do this? Ed.]. Customers complete the online sign up form,
select a user name and password and then they are issued the name
"Private Buyer'' and given a 16-digit
debit account number and an anonymous billing address.
This account
information is simply used in place of the shopper's name, credit card
number and billing address when making purchases. To get funds into
tehir account customers must "load funds" using their credit
card - and pay $3.95 each time they load up their account. According to Ecount, the founders of Private Buy,
customers can use their account number in place of a credit card number
anywhere Mastercard is accepted. (Citibank has been offering its own
version of this type of service to its customers for several months).
Consumers can buy online without
revealing their name, billing address or credit card information. They are unidentifiable and unknown to marketers,
merchants and advertisers. Purchases are kept private and
off credit card statements. This provides consumers with peace-of-mind
to privately buy whatever they wish.
Stores
recognize PrivateBuy as a MasterCard and therefore accept it just as
they would a credit card purchase. PrivateBuy guarantees
that consumers' personal information and online purchases remain 100%
private.
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Is PrivateBuy an effective solution to the Privacy issue or just a
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