NEW YORK ( LowCards.com) -- Think twice about what you buy with a credit card because your personal shopping information is collected by Visa ( V), MasterCard ( MA), banks, credit card issuers and smart wallets, then sold to advertisers and marketers.Like it or not, advertisers and businesses want to know about your spending habits so they can target you to buy their products and services. Credit card networks and issuers have enormous databases of purchase and shopping data which they aggregate, package and sell.
|Think twice about what you buy with a credit card if you don't like information about you being sold to advertisers.|
When you use the Processing Service to conduct a transaction, we collect information about each transaction, including the transaction amount, a description provided by the seller of the goods or services being purchased, the names of the seller and buyer and the type of payment used. We may also collect transaction data from your use of the Mobile Wallet. For example, if you use the Mobile Wallet Application to make a purchase at a merchant or download a merchant coupon, we may obtain information regarding that transaction from the Mobile Wallet Application, from the merchant and/or a partner, as applicable. The information may include the date and time of the purchase, the store location, the amount of the purchase, and the offer associated with the transaction.Google Wallet says it uses this information to:
Provide offers, coupons and other similar products to you for goods or services that may be provided by merchants, partners and other third parties alone or jointly with Google; to provide products and services, including the display of customized content and advertising; to perform auditing, research and analysis in order to maintain, protect and improve its services and develop new services.-- Reported by Bill Hardekopf of LowCards.com.