There is it. The main reason why Honey exists.
So, advertising the things I have already bought? Not sure thats gonna be super successful...
Amazon has done that for the past 2 decades and it has somehow worked.
We noticed you bought a fridge yesterday. Are you interested in these fridges, too?
Perhaps more like what fridge companies do via incessant water filter replacement reminders: Enjoying your Super Deluxe CoolPlus™ Fridge? Don't forget to check out the CoolPlus™ Fridge Magnetic Spice Rack and CoolPlus™ Fridge Juice Dispenser Add-on!
Gonna catch'em all!
Has it worked? Its never led to a repeat purchase for me. :/
Maybe they won't suggest things you already bought, but will estimate what you're going to buy next, based on the statistical analysis of people who bought the same things.
Yeah it’s more like, hey you just bought stabilizing jacks and a water hose for a travel trailer. You must have just bought a new camper. Let’s bombard you with add for stick-up-hooks, rv-mattress sized sheets, cheap plastic dishes, etc.
If only it was smart enough. Make its like oh you bought a newtv, you would like this new surround system
How is that GDPR compliant?
It'll probably launch in the US only to avoid GDPR concerns
They'll give you $2 or something like that if you give them consent. You would be surprised how well that works.
By showing you an annoying popup every time you use PayPal, and eventually you'll accidentally click OK and it will mysteriously remember this and never ask you again.
Let me guess: I'll buy a toaster because my old one died but then I'll get ads for new toasters constantly. You bought one, you must want another. And another. And another. Why aren't you buying more toasters. You bought one. Buy another! Buy twenty!! People who bought toasters also bought microwaves and kettles. Do you want a toaster? Does anyone want any toast?
"No, I don't want any toast. No toast. No buns, baps, baguettes or bagels. No crumpets. No croissants. No teacakes, no potato cakes, and no hot cross buns. And definitely no smegging flapjacks."
Yeah, that's the future with AI.
Ah! So you're a waffle man! Wanna buy a waffle iron?
Given that God is infinite, and that the universe is also infinite. Would you like a toasted teacake?
I'll be more concerned when Visa and Mastercard get wind of this idea.
Did you not know they're already selling your purchase data? All the card networks do it.
That's why you need to use cash to buy anything you don't want logged to create a data point about you to be sold
For items or just the shop? Because I write EPOS systems for a living, and as far as I can tell, we pass no item data to the credit card merchants.
The shop is obviously passed to them. So maybe don't buy from Dave's Enormous Dildo Emporium.
The card companies can get data from the Merchant Category Code to infer the nature of purchases, without specifics. The stores also have a record of what items you bought, which could also be sold unless you have a contract with the store that guarantees they won't sell your purchase history (at least in the countries without strong privacy laws)
That's per store though, presumably when they sign up with a payment provider (because there's a lot of rules about e.g. using credit cards to gamble with).
If I buy sex toys from Tesco, it's still showing up as "groceries". If I buy from a sex shop, it's going to be more clear cut.
I can see from my emails that PayPal send out itemised receipts on behalf of their customers, so they're definitely collecting more data than the big two.
Up next: PayPal introducing new AI that purchases random shit for you.
So... like Amazon Yesterday Shipping?
So happy I deleted my account with them 5 years ago after going throught their laughably bad customer protection (the only reason I had them to begin with, I had figured it was a good idea to have a buffer between merchants and my CC)
In the end, it was perfect because, as they refused to help, I went straight to the credit card to reverse the fraudulent charge and closed all accounts with PayPal... Then I get a whiny email from them when the CC took the funds and left them holding the bag... Sweet minor victory
PayPal. All the authority of a bank. None of the responsibility.
I feel like this could be used to describe any tech company that "innovates" or "disrupts" an area.
Correct... In late stage capitalism "innovation" means breaking some laws (Air B&B, Uber), smoke and mirrors (AI) or outright scams (Theranos)
This is why all these new "innovations" need to flood the market as hard and fast as possible.... Before anyone notices what they really are
Well, this sucks. PayPal was great for only having your credit card information in one place - now it looks like I'll have to risk it with every website.
This has me seriously considering using a company like privacy.com to just create random CC numbers per sketchy website.
Revolut does that, but far cheaper.
Capitalism = legal entities that we don't need doing things that we don't want.
I would've loved to have a paypal alternative if so many damn services would adopt them.
And no I'm not talking Google Pay or Apple Pay. They're just as bad.
I hope they enjoy analzying my once-a-month subscription to FFXIV and nothing else.
I'm more surprised they hadn't yet, to be honest.
Over here regular banks have been doing that for years 😥
thsnks I'm out
This is the best summary I could come up with:
PayPal will use data from billions of customer transactions to supercharge its nascent ad business.
The new PayPal Ads group is headed by recent hire Mark Grether, a senior vice president and GM at PayPal, who says the budding advertising operation will "help make merchants smarter to sell more products and services effectively, as well as enable consumers to discover more of what they love."
But, his reported statement doesn't really dwell on the fact that it will be using customer data, including purchase history, to pull this off.
In addition to the main PayPal platform, it also operates cash transfer app Venmo and Honey, a browser extension designed to find deals online.
The report also mentions that Venmo will see fewer ads served in order to not drive off its younger users.
PayPal's data on users' purchases and other transactions, combined with AI, might prove to be great at advertising, though probably to the consternation and frustration of recipients.
The original article contains 366 words, the summary contains 160 words. Saved 56%. I'm a bot and I'm open source!
Is there an alternative to paypal?
Depends on what feature you use.
Well… looks like I’m going to have to find a new payment platform to use.
Just the tip you say?
How about no way!
I'm surprised that they haven't been doing this from the start tbh. Obviously they've been selling your data to whoever, which is really the same I guess.
This is a most excellent place for technology news and articles.
