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Google starts tracking what people buy in physical stores

latimes.com

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Re: Google starts tracking what people buy in physical stores

#191

Post by puzzle »

speedplane wrote: post #146
AznHisoka wrote: post #13

Earlier quoted context omitted.

MasterCard and Visa not only make money from each credit card transaction but to add insult to injury, they make money selling that transaction data as well! That's what I call a ludicrous business.

I've heard that this is not a very big business for Visa/Mastercard. That's because the credit card processors don't get many details on the purchase, they just know the amount, the user, and the bank they are sending the money to.

False. Years ago I had a business credit card charge from either Target or Kmart where you could see the individual items. So some merchants do share that kind of detail.

Re: Google starts tracking what people buy in physical stores

#192

Post by hyperbovine »

speedplane wrote: post #146
AznHisoka wrote: post #13

Earlier quoted context omitted.

MasterCard and Visa not only make money from each credit card transaction but to add insult to injury, they make money selling that transaction data as well! That's what I call a ludicrous business.

I've heard that this is not a very big business for Visa/Mastercard. That's because the credit card processors don't get many details on the purchase, they just know the amount, the user, and the bank they are sending the money to.

My bank seems to know the origin and destination of all the plane tickets I buy (for example), so presumably the CC processor has this sort of information as well? I'm sure someone reading this is in the industry and can explain.

Re: Google starts tracking what people buy in physical stores

#194

Post by pnut »

awinter-py wrote: post #19

I think everyone remembers the first ad to follow them around multiple websites. For me it was an ASPCA campaign. The next version of that experience will be researching a purchase and where to get it, then seeing ads on the way that are customized to (a) the product you're buying and (b) your preferences. If you're 55 you'll get michael jordan advising you to buy nikes. If you're 35 it will be Noel Gallagher (air no…

If ads were going to become honest and informative, it would have happened already. A sale from a lie is equal in value to a sale from the truth.

Re: Google starts tracking what people buy in physical stores

#195

Post by pnut »

awinter-py wrote: post #19

I think everyone remembers the first ad to follow them around multiple websites. For me it was an ASPCA campaign. The next version of that experience will be researching a purchase and where to get it, then seeing ads on the way that are customized to (a) the product you're buying and (b) your preferences. If you're 55 you'll get michael jordan advising you to buy nikes. If you're 35 it will be Noel Gallagher (air no…

If ads were going to become honest and informative, it would have happened already. A sale from a lie is equal in value to a sale from the truth.

Re: Google starts tracking what people buy in physical stores

#196

Post by creepydata »

mattnewton wrote: post #92
creepydata wrote: post #44

Earlier quoted context omitted.

Walmart wouldn't take credit if it wasn't financially sound for them to do so.

Doesn't mean they like the arrangement and are going to shill for the credit card companies though. That was my point.

Um... Walmart IS a credit card shill, they have their own credit card - https://www.walmart.com/cp/walmart-credit-card/632402

We don't know Walmart's feelings, they may like the arrangement. Business go cash free for all kinds of reasons. Customers that use credit spend more money than cash customers. Walmart probably isn't one of those places that benefit as much as a pub but they may have a small credit spending boost that covers the fees.

Walmart is a really smart and data driven company and I'm sure they've weighed their options about what is effective business practices for them.

Re: Google starts tracking what people buy in physical stores

#197

Post by creepydata »

Guest98123 wrote: post #82
mattnewton wrote: post #38

Earlier quoted context omitted.

They won't in the medium term because of how much they hate the credit card company's cut. 3% is a lot on an already low-margin transaction at Walmart.

I went to a store in my city that just opened a few weeks ago. They advertise as being paperless and cash free, and only accept debit/credit. I think it's the first time I went to a store that refused cash.

I don't travel a ton but I have not been on an airplane in the last decade that accepted cash for in-flight purchases. Debit or credit only.

Re: Google starts tracking what people buy in physical stores

#198

Post by treyfitty »

Guest98123 wrote: post #82
mattnewton wrote: post #38

Earlier quoted context omitted.

They won't in the medium term because of how much they hate the credit card company's cut. 3% is a lot on an already low-margin transaction at Walmart.

I went to a store in my city that just opened a few weeks ago. They advertise as being paperless and cash free, and only accept debit/credit. I think it's the first time I went to a store that refused cash.

Costco doesn't take cash. Probably the biggest physical retailer that doesn't.

Re: Google starts tracking what people buy in physical stores

#199

Post by swampthinker »

yborg wrote: post #26
thinkling wrote: post #4

FTA: "Google says it has access to roughly 70% of U.S. credit and debit card transactions through partnerships with companies that track that data." Wow.

I'm actually surprised that retailers haven't started surcharging people paying in cash by now in order to drive all of individuals' transaction data into the panopticon.

That's an idea that hurts poor people.

Re: Google starts tracking what people buy in physical stores

#200

Post by treyfitty »

bonzini wrote: post #155
AznHisoka wrote: post #13

Earlier quoted context omitted.

MasterCard and Visa not only make money from each credit card transaction but to add insult to injury, they make money selling that transaction data as well! That's what I call a ludicrous business.

Is this also true of Amex (which makes more money from each credit card transaction than Visa and Mastercard)?

Yes.

https://vimeo.com/155746893

http://www.businesswire.com/news/home/20160517006038/en/Viac...

They used to have a "Business Intelligence Group" which acted as a Consulting firm to corporations who want to answer questions like "Where should my company set up more stores?" The group often sifted through their customer data to answer that question.

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