“If you’re someone who’s buying products on the web, we know who is buying the products where, and we can leverage the data,” Grether said in a statement to the WSJ. He also said that PayPal will receive shopping data from customers using its credit card in stores.
A PayPal spokesperson tells the WSJ that the company will collect data from customers by default while also offering the ability to opt out.
PayPal is far from the only company to sell ads based on transaction information. In January, a study from Consumer Reports revealed that Facebook gets information about users from thousands of different companies, including retailers like Walmart and Amazon. JPMorgan Chase also announced that it’s creating an ad network based on customer spending data, while Visa is making similar moves. Of course, this doesn’t include the tracking shopping apps do to log your offline purchases, too.
I don’t buy that Privacy.com needs it. I use PayPal regularly and never once have I had to give them anything except my name and the credit card info.
That said, I don’t know about Kraken but isn’t Coinbase custodial? I will not use custodial exchanges. In terms of DEXes, I hope they improve because that will be the only feasible solution for me. I tried Bisq, nobody was selling for any less than hundreds of dollars in fiat and I’m kinda nervous about sending cash in the mail even if they have an escrow (as AgoraDesk/LocalMonero did).