Google Reportedly Bought Your Banking Data In Secret, And That’s Not Even The Bad News
Bloomberg reports that Google purchased a trove of credit card transaction data from Mastercard, allegedly for “millions of dollars.” Google then reportedly used that data to provide select advertisers with a tool called “store sales measurement” that the company quietly announced in a blog post last year, though it failed to mention the inclusion of Mastercard data in the workflow. The tool can track how online ads lead to real-world purchases, and that extra data is designed to make Google’s ad products more appealing to advertisers. (Read: everybody makes more money this way.)
Your credit card and banking data has long been private. If you wanted to spend $98 at Sephora on a Tuesday afternoon, that transaction was between you, your bank, and Sephora. It now appears that Google has found a way to weasel its way into the data pipeline that connects consumers and their purchases.