Sure, fee reduction is a major part of MCX's appeal (as is data retention).
However, I was talking about why they shut off NFC to kill Apple Pay, which is a totally different topic, since they haven't shut off regular credit cards.
Merchants depend a lot on being able to target ads and flyers to customers via their zip code, areacode, name, etc. That's why so many try to non-chalantly ask for such info.
Agreed.
Of course. Just some examples of why credit card companies are paying Apple to let them continue to get our purchase data:
MasterCard Is Selling Your Data - Wired
Mastercard: Real-Time Consumer Trend Data Is A Huge Growth Area For Us - Business Insider
Mastercard, AmEx Quietly Feed Data to Advertisers - AdAge
And this one, which points out just how much more CC companies know about what we REALLY buy, versus just location or search based info collectors like Google:
AmEx is the king of check ins and it could own local recommedations - VentureBeat
My favorite part: using our CC history, apps could make even better restaurant recommendations, because the CC companies know for real what kind of money we usually spend on meals and where.
I just could imagine that one day this'll become a commmon blind date question: "
Okay, Mr Big Shot, show me your restaurant recommendations!" Heh heh. Oops. Nailed.
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What's also interesting, is that even if you are one of the few who exercise their privacy rights and tell their CC company not to share data, it does NOT affect sharing with their partners. For example, Visa is partners with Disney and Amazon. Thus they can all share our personal purchase habits with each other.
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Perhaps in the future, some kind of proxy payment system akin to Google Wallet (maybe a paid service versus ad funded) might be the best bet for those who actually want more purchase privacy.