Summary:
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Data Sharing Announcement
PayPal will begin sharing detailed customer purchase data with retailers starting November 27, as outlined in a recent privacy update. -
What Data Will Be Shared?
The shared information includes specifics like clothing sizes and shopping preferences, aimed at enhancing targeted advertising efforts. -
Global Impact
This initiative will impact 391 million active consumer accounts worldwide, potentially changing how retailers market their products. -
Opt-Out Availability
Customers will have the option to opt out of data sharing through the app settings, though historical data shows opt-out rates in financial services typically remain below 7%. -
Advertising Strategy
This move underscores PayPal’s strategy to leverage customer data for more effective advertising, raising privacy concerns among consumers.
Read more at: MSN
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