>"We don't sell your data, we share it." -all the companies involved
Am I the only one thinking there might be some Clapper-level double-speak going on here? Why would these company share admittedly valuable data without being compensated?
A question for contract lawyers: can I sell something (say an API or quarterly report) that "incidentally" includes customer data and get away with saying I'm not "selling customer data"?
Your transaction data is never exposed to anyone outside of $corp.
$corp provides it's marketing partners with insights gleaned from aggregated transaction data. And allows select partners to query an api for derived information about $corp's cardholders using a marketing identifier that tracks across multiple agencies including credit reporting, social media monitoring and customer intelligence analytics.
Additionally $corp uses it's transaction stream to feed information about aggregated spending per retailer to both their internal trading desk and to select financial markets partner firms.
Your personal transaction information is never exposed to anyone outside of $corp.
Definitely not a lawyer, but "sell" to me implies you lose ownership afterward, so as long as they're not doing that, they're not selling. Easy to see how they can give someone your data without doing that.
Are you saying that every single SaaS startup is selling anything because they don’t lose ownership when they provide a service in return for money? I think typically the exchange of money for a good or service is what we refer to as “selling” even if the seller doesn’t lose said service after selling it.
No, I was merely referring to "selling" as it pertains to products, not services. Your data would be a product, not a service. They may build services around your data that use it in some way, but it'd be the service they'd be selling, not your data. Just like how Uber would be selling a ridesharing service, not your car.
If I sell to you the knowledge that the derivative of ln(x) is 1/x, I still have that knowledge.
No different than if I sell to you knowledge of the fact that cardholder XYZ lives at 123 Main St, has phone number 555-867-5309, and shopped at Giant Dildos, LLC 3 times in the summer of 2019.
It is very different. It's literally impossible for you to dispossess yourself of that derivative. So clearly you will still have it. It's not impossible for you to dispossess yourself of users' data. They're not the same thing.
Software, music, movies and many other products are sold through different media — physical or over the network — those are also referred to as selling, but what they sell is a license to use for specific purposes, without losing ownership, copyright, IP, patents, etc.
Not really but third party processors get a lot of info too. And it's not anonymous. They might share actually anonymous data but it can be picked up for a dime or just easily hacked before dealing with high level Visa or MasterCard level
Am I the only one thinking there might be some Clapper-level double-speak going on here? Why would these company share admittedly valuable data without being compensated?
A question for contract lawyers: can I sell something (say an API or quarterly report) that "incidentally" includes customer data and get away with saying I'm not "selling customer data"?