November 25, 2020

MasterCard reportedly sold bank data to Google

MasterCard reportedly sold bank data to Google

According to Bloomberg, Google has purchased the bank data of Internet users from MasterCard for several million dollars. An essential asset for setting up a powerful ad marketing tool.

If in the European Union Google has revised its advertising strategy against the RGPD , this is not the case in the United States. According to Bloomberg, Google and MasterCard, the credit card management service reportedly had a secret partnership last year. After four years of negotiations, the two companies have reached agreement on whether offline shopping habits are influenced by online advertising.

 

MasterCard would have pocketed several million dollars

 

According to Bloomberg and The Verge, Google and MasterCard have not publicly announced this partnership. None of these companies let their customers know that their purchases made in physical stores are tracked and recorded in a history and linked to the advertisements they saw online.

Google would have bought for several million dollars of banking information . Without confirming the existence of such an agreement concerning MasterCard banking data sales, the two companies told The Verge that they anonymize the personal information of their customers.

This partnership would have made it possible to develop a powerful tool. Named Store Sales Measurement, this one was set up last year.

Other banking institutions potentially sold their data to Google

In his article, Bloomberg, describe the process of analyzing this bank data. The user connected to his Google account who browses the web from his computer, tablet or smartphone clicks on an online advertisement. If he has purchased the product online or in-store, the ad campaign is considered successful.

The tool would have accounted for 70% of transactions from US credit and debit cards . Other banking players would have participated in the implementation of this program. For their part, Google and MasterCard claim to have strengthened their security protocols so that the banking data do not leak and that the employees of the two firms do not have access to it.

Asked by Bloomberg, Google claims to test this tool with selected marketing partners. US users can prevent this intrusive tracking by disabling the “Web and App Activity” tab enabled by default. Only this category is not specific. This also disables GPS coordinate identification, which is often convenient when using Google Map.

Historical data to predict future attacks

 

The ability to use raw data allows you to use not only current data, but also historical data . Using this data, it is possible to create statistical baselines to identify normality. Subsequently, it is possible to instantly determine when the data deviates from this standard. Some indicators may not be perceived when presented in real time, but these indicators may be even more useful in the long term.

This historical data also makes it possible to create predictive models, statistical models, and offer new opportunities in machine learning . Thus, it is possible to predict future events.

It is not the data that makes it possible to develop an IT security strategy, but what the company is capable of doing . The ability to automatically respond to detected threats within data, and to trust data accuracy are two keys to developing a Big Data cybersecurity solution.