PayPal to Share Customer Purchase Data with Retailers for Targeted Advertising
Starting November 27, PayPal will begin sharing customer purchase data with retailers to optimize their advertising efforts.
This update to the company's privacy policy indicates that the shared information will include products, preferences, sizes, and styles deemed likely to interest users.
Customers will have the option to opt-out via the app settings. However, despite consumers often being in favor of opting out, the opt-out rate remains below 7%, raising concerns about privacy protection.
This new policy has sparked concerns among privacy advocates, particularly regarding the risk of targeted advertising and identity theft.
Despite these concerns, PayPal claims that this data sharing is common practice in the consumer credit sector and will allow customers to benefit from personalized offers.
Amy Bonitatibus, PayPal's communications manager, stated that the company is committed to being transparent about how it shares this information to improve the shopping experience.
