- cross-posted to:
- cybersecurity@lemmy.ml
Wall Street Journal (paywalled) The digital payments company plans to build an ad sales business around the reams of data it generates from tracking the purchases as well as the broader spending behaviors of millions of consumers who use its services, which include the more socially-enabled Venmo app.
PayPal has hired Mark Grether, who formerly led Uber’s advertising business, to lead the effort as senior vice president and general manager of its newly-created PayPal Ads division.
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I’m not surprised. Just disappointed.
You know you’ve got a problem with advertising when even the banks want to become ad platforms. People complain about misinformation on social media, while behind their backs and under their feet the whole economy noisily turns into a competition to see who’s best at deceiving people.
Friends don’t let friends use PayPal. If something goes wrong and eventually something will, you will find zero customer support. Add exploitation to the list of reasons.
- kingthrillgore ( @KingThrillgore@lemmy.ml ) 4•6 months ago
I’ve told companies that use PayPal to register as a business, not as an individual. If you’re an individual and a lot of money comes through, they will lock you down for “regulatory reasons.” Which is hilarious because they are technically not a bank (But I think they are a NA). You’ll never see that money again.
All posts should be like this, say if it’s paywalled so we don’t have to click.
There’s a certain irony in bemoaning subscription news paywalls on an article about the alternative, unsavory monetization paradigm…
Shocked face?
It is problematic that it is popular
Well… Time to delete my PayPal account I only used maybe once…
I thought every bank or payment processor did this? 🤔
@badelf Well, shit
- kingthrillgore ( @KingThrillgore@lemmy.ml ) 6•6 months ago
Unable to find other sources of income, PayPal is now squeezing the margins for money. The detachment of the stock market from reality marches on.
Please no. :( I do like 99.99% of online payments through them because the convenience they offer is really great, especially with recurring payments. :/
So… what easy payment processor is there as an alternative to Paypal?
That practically all places use? None that I know of.
I think the closest is Google Pay, but i doubt it’s any better for privacy vs Paypal
Google Pay or Apple Pay, probably even Samsung Pay too, but I personally wouldn’t consider any of them good for privacy.
- kingthrillgore ( @KingThrillgore@lemmy.ml ) 2•6 months ago
I’ve had good success with Wise and Cash App.
Do we all need a competitor to Alphabet/Google? I’d say yes, I don’t think Alphabet is behaving fairly.
The issue is every competitor will use the same targeted ads. No advertiser who is not using targeted ads by utilizing tracking data will never be as competitive because their ads won’t be as effective.
Until we can kill these types of advertising by making laws against it or make tools that counteract them widespread enough that it makes the business unprofitable we will continue to have our data used against us.