7 ms·

The concept of these new age banks is nice. But I really think they haven't pushed it all the way yet. For example, Revolut has one-time-use credit cards. Even

The concept of these new age banks is nice. But I really think they haven't pushed it all the way yet. For example, Revolut has one-time-use credit cards. Even thinking about the possible features, there is a lot more that could be done. One time use with a predetermined amount (to be used like a gift card), in fact make every transaction a new credit card. An abstraction over the visa and mastercard networks. Also really actually good bookkeeping like with e.g. gnucash. I really feel there is a space for a hacker- and privacy-friendly new age bank product.

Etheryte 3y ago
I like this idea, the downside is it would require an overhaul of the entire fintech system, every page that accepts credit cards, etc, because we'd just run out of card number space. So in essence it would amount to starting a financial network from scratch.
- akokanka 3y ago
  Well if BTC got adopted properly it would have been the answer. We are stuck with the system designed ages ago. No doubt it's good for government. Current Fintech can go any peasant go bust. However, normal folks have zero control over their financial security. Your always under radar especially under cashless society umbrella.
- victorbjorklund 3y ago
  There are 16 numbers in a creditcard. That is a lot of potential cards. It will be a while before we run out of cards. And when we do they could just add more numbers. It isnt such a big deal.
  - quickthrower2 3y ago
    Probably you’d get 8 or 12 to play with ad a bank and I think 1 is error correcting. But that is still a lot! Problem I have with gift cards is a lot of merchants and machines refuse them. I wonder if neobanks have this issue?
    - als0 3y ago
      Quite a few websites don't accept my Revolut or Monzo cards at all, despite being VISA/Mastercard. So there is clearly some way for them to detect these neobank cards.
      - lmz 3y ago
        It's called the BIN (card number prefix) try e.g. https://binlist.net/ https://binlist.net/
  - Etheryte 3y ago
    You lose some digits as the bank identifier etc, so really you get 12 digits or so. The population of the world right now is a 10 digit number. It sounds like a lot of space at first glance, but it really isn't. "Just add more numbers" is what people thought when IPv4 started to run out and we all know how that is going.
  - mst 3y ago
    > And when we do they could just add more numbers That's an exceedingly optimistic use of "just," I suspect.
maronato 3y ago
privacy.com does exactly that
rodrigodlu 3y ago
Well, I'm a Nubank customer and they have now a 24h card that auto expires. On top of a permanent list of 10 virtual cards that you can rotate manually. That's what I do. But yeah, Bank of Brazil, a boring public bank has this for ages, just the app is ugly and intuitive only for financial savvy people. You can set number of transactions, limit per transaction, total limit of that specific virtual card, etc. Bookkeeping is not something people usually do here. And I hope that OpenFinance, that is a Brazil Central Bank endeavour (that Nubank is also adhering), be more open to the general public, because today is more about exchanging info between banks to provide better intel whenever you need loans, etc. With OpenFinance you can choose to share your info from one bank to another, but you can't download this information yourself. Only through downloading ofx, CSV, pdf (the existing tools) on each of your banks, a nightmare to automate.
ABS 3y ago
single purchase "virtual" credit cards created on demand are available and kinda standard offering by many companies though I've never checked their availability for consumers, always had them via various B2B
nine_k 3y ago
Have you tried privacy.com? Works independently of your bank. Use the Unix principle :)
- YoshiRulz 3y ago
  Only available in the USA https://support.privacy.com/hc/en-us/articles/360050917053-Can-I-use-Privacy-if-I-live-outside-the-US- https://support.privacy.com/hc/en-us/articles/360050917053-C...

Etheryte 3y ago

I like this idea, the downside is it would require an overhaul of the entire fintech system, every page that accepts credit cards, etc, because we'd just run out of card number space. So in essence it would amount to starting a financial network from scratch.

akokanka 3y ago
Well if BTC got adopted properly it would have been the answer. We are stuck with the system designed ages ago. No doubt it's good for government. Current Fintech can go any peasant go bust. However, normal folks have zero control over their financial security. Your always under radar especially under cashless society umbrella.
victorbjorklund 3y ago
There are 16 numbers in a creditcard. That is a lot of potential cards. It will be a while before we run out of cards. And when we do they could just add more numbers. It isnt such a big deal.
- quickthrower2 3y ago
  Probably you’d get 8 or 12 to play with ad a bank and I think 1 is error correcting. But that is still a lot! Problem I have with gift cards is a lot of merchants and machines refuse them. I wonder if neobanks have this issue?
  - als0 3y ago
    Quite a few websites don't accept my Revolut or Monzo cards at all, despite being VISA/Mastercard. So there is clearly some way for them to detect these neobank cards.
    - lmz 3y ago
      It's called the BIN (card number prefix) try e.g. https://binlist.net/ https://binlist.net/
- Etheryte 3y ago
  You lose some digits as the bank identifier etc, so really you get 12 digits or so. The population of the world right now is a 10 digit number. It sounds like a lot of space at first glance, but it really isn't. "Just add more numbers" is what people thought when IPv4 started to run out and we all know how that is going.
- mst 3y ago
  > And when we do they could just add more numbers That's an exceedingly optimistic use of "just," I suspect.

maronato 3y ago

privacy.com does exactly that

rodrigodlu 3y ago

Well, I'm a Nubank customer and they have now a 24h card that auto expires. On top of a permanent list of 10 virtual cards that you can rotate manually. That's what I do. But yeah, Bank of Brazil, a boring public bank has this for ages, just the app is ugly and intuitive only for financial savvy people. You can set number of transactions, limit per transaction, total limit of that specific virtual card, etc. Bookkeeping is not something people usually do here. And I hope that OpenFinance, that is a Brazil Central Bank endeavour (that Nubank is also adhering), be more open to the general public, because today is more about exchanging info between banks to provide better intel whenever you need loans, etc. With OpenFinance you can choose to share your info from one bank to another, but you can't download this information yourself. Only through downloading ofx, CSV, pdf (the existing tools) on each of your banks, a nightmare to automate.

ABS 3y ago

single purchase "virtual" credit cards created on demand are available and kinda standard offering by many companies though I've never checked their availability for consumers, always had them via various B2B

nine_k 3y ago

Have you tried privacy.com? Works independently of your bank. Use the Unix principle :)

YoshiRulz 3y ago
Only available in the USA https://support.privacy.com/hc/en-us/articles/360050917053-Can-I-use-Privacy-if-I-live-outside-the-US- https://support.privacy.com/hc/en-us/articles/360050917053-C...