I didn't realize credits cards weren't doing this already. How have credit cards resisted selling this gold mine of data so far? Who cares about weak targeting signals like what television shows I watch when a business can find out exactly which of their competitors I'm spending money with, when, and how much.
'Using customer transaction data, which is owned by the bank, brands and advertising agencies can "precisely target customers at scale based on purchase history," for example, by advertising to new, lapsed, or loyal customers differently.'
Enshittification comes to banking and credit cards.
This should be illegal since it is selling what should be private data (how people spend their money) and selling it to third-parties, likely without their consent. (It is probably an 'opt out' item hidden deeply in the legal text of a customer service agreement.)
Correct. And the charge might be for multiple items, plus a shipping charge, plus taxes and regulatory fees, so it seems unlikely Chase would be able to go from charge amount -> product purchased even if they had all the current prices of amazon products.
Unless JPMorgan gets the info from Amazon (in a post-Bezos company, where the customer-oriented Leadership Principle gets noticeably less emphasis).
Also, I was thinking, if this particular news story happens to get promoted widely, then some of the Amazon card goodwill will be lost (because not all consumers realize that pretty much every company is quietly violating their privacy, but this one happens to be in the news).
