Over the past decade, our financial transaction data has become one of the most sought after data sets. Credit card processors like American Express, Mastercard and Visa are at the center.
All of this takes place under a veil of secrecy. Credit card companies may recognize that they are making money by analyzing transactions, but they are vague about the data they actually share […] Even Apple, which prohibits Goldman Sachs from using its card data for marketing purposes, has been unable to obtain the same concessions from Mastercard, its card network.
here is a link to the study mentioned in the article, where MIT researchers have successfully anonymized the financial data that these companies claim to have privacy protections.
Tags: Advertising, Apple Card, Credit cards, financial, confidentiality