“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.
Hegemony? eBay and Play Store are the only places I’ve seen PayPal for the last decade
Paypal is everywhere. Many sites accept it, even government ones.
Luckily, they’re not the only ones in the game.
As of 2022, PayPal operates in 202 markets and has 426 million active, registered accounts.+700 000 corporates accept PayPal payment, top 1000 : 72%. 1.5 billions in transactions. They own iZettle, Honey, Braintree, venmo, curv, paidy, gopay, … I think hegemony was the right word.