MasterCard Is Taking Your Transaction Data and Selling It To Advertisers
Aside from collecting royalties every time you swipe your MasterCard at a business, MasterCard found a way to make money from your financial data. According to the Financial Times, MasterCard is packaging your transaction data and selling it to advertisers. This information is based on a confidential pitch that MasterCard made to potential clients.
The leaked presentation was called “Leveraging MasterCard Data Insights to Reach Holiday Shoppers.” MasterCard SVP Susan Grossman said that they can mine 34 billion transactions made using their credit cards every year.
“Business travelers tend to travel Monday through Friday and not so much on Saturdays and Sundays,” stated Ms. Grossman. “So we can identify segments that have a high propensity to travel Monday through Friday and feel confident that we have isolated business travelers.”
The presentation was made in September and it highlights holiday-specific audiences that might be of interest to advertisers. The program is called MasterCard Audiences and it launched in February.
“MasterCard is committed to protecting individual privacy. No personally identifiable information is collected, disclosed or used in the analysis and development of MasterCard Audiences,” said the company.
This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry