PayPal will use your purchase information and shopping patterns to sell targeted ads
PayPal will use your purchase information and shopping patterns to sell targeted ads
PayPal will collect customer data by default.
“If you’re someone who’s buying products on the web, we know who is buying the products where, and we can leverage the data,” Grether said in a statement to the WSJ. He also said that PayPal will receive shopping data from customers using its credit card in stores.
A PayPal spokesperson tells the WSJ that the company will collect data from customers by default while also offering the ability to opt out.
PayPal is far from the only company to sell ads based on transaction information. In January, a study from Consumer Reports revealed that Facebook gets information about users from thousands of different companies, including retailers like Walmart and Amazon. JPMorgan Chase also announced that it’s creating an ad network based on customer spending data, while Visa is making similar moves. Of course, this doesn’t include the tracking shopping apps do to log your offline purchases, too.
It should be completely illegal for these companies to just completely fucking change the nature of our agreements decades later. This is bullshit.
It is illegal in Europe, but not widely enforced.
It wouldn't have to be illegal if we transitioned to a decentralized and anonymous payments system that doesn't involve the likes of PayPal
In the beginning PayPal was needed due to credit cards not working for international payments. Now not so much. They are giving you a reason to leave.
I'm so over this. So exasperated by it. Every company in a scramble to the bottom. Meanwhile my country's reporting a downturn in FOOD spending because people are fucking poor.
We're being bombarded with ads at every turn, having our data sold off, stolen, or repurposed for LLMs... Meanwhile the customer experience gets worse and worse.
I work in digital ux and honestly, I just want to unplug and go live in a cave.
Been interested in computers since childhood, and have been working in the IT industry for over a decade now.
I would love to take a sledgehammer to all of my stupid customer's servers and go live on a farm. The future we made for ourselves is fucking retarded.
We? No. I didn't participate in the building of this future.
The sad thing is that even if you really wanted to go off the grid, live in a cave, and rediscover the fire, you wouldn't be allowed to.
Pretty sure my local bank has been doing this for a few years now. I thought I was losing it, but apparently it's a thing.
Only thing that pisses me off (besides the obvious fact that its my bank doing this, and i dont want ads) is that I get ads for the same stuff I just bought. If your supposed to be some all knowing awesome algorithm that understands me better than I understand myself, send me ads for stuff I might actually want, but haven't bought yet. Not, literally, the same thing I bought two days ago, and have no need for, for at least another month. Idiots.
you're* supposed.
Also, adblockers.
I assume most things advertised in apps and websites to be low quality or scammy. I hate advertising enough that I actually avoid any large company that throws ads in my face because I assume they can no longer rely on their reputations and arr no longer the value they were when they rose to prominence.
PayPal's hegemony must end.
Hegemony? eBay and Play Store are the only places I've seen PayPal for the last decade
Paypal is everywhere. Many sites accept it, even government ones.
Luckily, they're not the only ones in the game.
As of 2022, PayPal operates in 202 markets and has 426 million active, registered accounts.+700 000 corporates accept PayPal payment, top 1000 : 72%. 1.5 billions in transactions. They own iZettle, Honey, Braintree, venmo, curv, paidy, gopay, ... I think hegemony was the right word.
This is the best summary I could come up with:
The company’s new advertising business will encompass purchase information and customer spending habits from PayPal and its sister app Venmo, according to The Wall Street Journal.
A PayPal spokesperson tells the WSJ that the company will collect data from customers by default while also offering the ability to opt out.
When asked about the kinds of data PayPal will collect, spokesperson Taylor Watson told The Verge that the advertising platform is still in “early stages” and that the company doesn’t have “definitive answers” yet.
“Alongside the advertising business, PayPal will build transparent, easy-to-use privacy controls,” Watson says.
In January, a study from Consumer Reports revealed that Facebook gets information about users from thousands of different companies, including retailers like Walmart and Amazon.
JPMorgan Chase also announced that it’s creating an ad network based on customer spending data, while Visa is making similar moves.
The original article contains 325 words, the summary contains 143 words. Saved 56%. I'm a bot and I'm open source!
Alternatives? Except for not using services that require PayPal.
In America they have VenMo and CashApp, in Europe, it feels like PayPal have a monopoly.
Is it just me or are cheques still the best, cheapest, most secure, and generally universal way to send money from one person to another?
I've been thinking about this a lot the past few weeks.
- Assuming all parties have a bank account, you normally can get checks for free or some nominal amount.
- Checks can be deposited via a bank's mobile app.
- They don't require you to download a separate app.
- You can stop a check by calling your bank
- Since your money doesn't leave the bank, it's FDIC insured
Yes I know that the MIRC line isn't secured but your account is still protected by the bank for any fraud. You don't get those same protections from venmo or cashapp.
The closest I've seen is zelle but not every bank supports it.
Every bank supports depositing in a check.
Just using a debit/credit card? I still choose not to do this when there's a PayPal option though, just feels riskier!
You know when you use your credit card and it shows the last 4 digits on the receipt big data collects all that and knows exactly who you are and where you shop and is used for targeted ads and demographic research. If you ever used your credit card where they know your name/ delivery address and even if you didn't they know exactly who you are. This technology is old as dirt not even sure why PayPal announced this like it's a big deal.
I really miss the fake credit card number paypal used to have for sites that didn't take paypal
I'm so fucking tired...
Guess I'll delete my PayPal account.
Opt out to payment data sharing is pretty illegal in EU.
As far as data goes, purchase data is one I can live with businesses doing this kinda stuff with. I'm using their platform to complete the sale, so it'd make sense to me they'd have data of that sale. And it makes sense to me that a business would leverage that data in ways to benefit themselves.
Someone tell me if I should be concerned, but this seems like what everyone else has done as long as they've been able to do it.
And it makes sense to me that a business would leverage that data in ways to benefit themselves.
Big fat nope on that one. This is exactly what the GDPR is about. I'm giving you my data for a specific purpose, and unless I tell you otherwise, you have no fucking business using that data for anything else. Gonna be interesting to see how this one plays out in the EU.
Thw issue is aggregation of all of the data into mega datasets that are used to fix prices.
A lot of the inflation we are seeing recently is literally result of these dataset being compiled.
They know how much you make, how much you save etc so they can determine how much they can extract from you esp once you add behavioral data. We are all profiled and they know what you like.
Although fast food seems to finally hit a wall on that...
The worst part is that it doesn't just affect you, it'll make it much easier to profile new users going forward so future generations will be screwed over even more. Imagine your insurance prices or phone bill being calculated by your max tolerance you would pay before searching for a different provider
I'm kinda surprised to hear they didn't already do that... I guess I just assumed that was the entire point of them acquiring "honey" and had been doing it since at least that point.
I really wish there were another option. The only other option is to give raw credit card data to vendors, which is horrible for security given all the data breaches that happen. And no, card masking services like Privacy.com aren't an option when they're requiring your SSN (which is a load of BS).
Will? That's an evil company, surely slightly evil targeted ads have been going on for awhile.
More power to em. I stopped using them years ago.