PayPal leverages customer purchase and spending data from PayPal and Venmo to enhance its new advertising platform, overseen by Mark Grether, a former Uber Advertising executive.
While collecting customer data by default, PayPal emphasizes offering opt-out options and aims to develop transparent privacy controls to build user trust and compliance.
The new platform aims to assist merchants in boosting sales and presenting tailored products to customers, following PayPal's recent success with AI-powered personalized offers.
Similar to other companies like Facebook and JPMorgan Chase, PayPal joins the trend of utilizing transaction data for targeted advertising strategies.
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