4 ms·
In-store reward systems aggregate purchases under a common identifier, and chain stores will also attempt to cross-reference purchases and create identifiers fo
by kakarot 8y ago
In-store reward systems aggregate purchases under a common identifier, and chain stores will also attempt to cross-reference purchases and create identifiers for non-members through credit and debit cards. Even when individual items cannot be attained, these systems still can reveal a lot just through the purchase summaries. Store location, type of purchase, etc. All of this data ends up in the hands of tons of financial companies. Stores don't have to directly give up this data to competitors. The information market is simply too big and unregulated.
Cash is the only way to circumvent this process until we have anonymous credit systems.
- paulie_a 8y agoYes in store reward systems are completely different than credit card and debit card companies. I work in that industry and look at the raw data. You are definitely incorrect about how the various levels of a transaction works and how the various companies collect pieces of relevant information. Information is definitely collected but please don't spread misinformation. Your above sumnary is completely misguided to how it actually works.
- kakarot 8y agoSpecifically, what am I wrong about? Always interested to improve my understanding of how this complex network of data trading works.