You might have wondered before how companies like Google, Facebook provide free services and still keep themselves massively profitable. In case you didn’t know, these companies are always collecting your data and they are one of the biggest sources of these companies’ income. If you were concerned about how much data these companies collect, then you might be even more uncomfortable knowing that Google will start collecting data related to billions of credit and debit cards which are used for online transactions.
The latest news comes via a blog post from the company’s Adward’s official site. The company claimed that they already have more than 70 percent of the credit and debit cards used in online transactions in the US as it works with third party partnerships.
While at present these information don’t seem to affect advertisers, the company has suggested that the collected data will help advertisers to target audiences in a much more efficient way.
Talking about the announcement, the company said, “Both solutions match transactions back to Google ads in a secure and privacy-safe way, and only report on aggregated and anonymized store sales to protect your customer data.”
A spokesperson told BBC, “While we developed the concept for this product years ago, it required years of effort to develop a solution that could meet our stringent user privacy requirements.”
“To accomplish this, we developed a new, custom encryption technology that ensures users’ data remains private, secure, and anonymous.”
If you want to keep your online activities private, then you can head over to your Google account and opt out from sharing your data with the search engine giant.
Featured Image: Pixabay/geralt