January 19, 2001, 12:00 AM

Disposable AmEx

American Express Co.has announced a new series of products designed to address consumer concerns about online privacy and security. The first product, called Private Payments, offers a more secure way to pay online using a random, unique number for each online purchase. Once the transaction is complete, the unique number expires and cannot be used again. Private Payments enables customers to make purchases online without transmitting their actual card number over the Internet. The product will be available free within the next month to AmEx consumer and small business cardholders in the U.S. AmEx also signed an agreement with and made a minority investment in Privada Inc, a digital privacy infrastructure provider, to deliver a second product that will enable customers to choose how much of their information is shared when they browse web sites.

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