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🗓️ 1 November 2024
⏱️ 11 minutes
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0:00.0 | The Capital Ideas podcast now has a new monthly edition hosted by Capital Group CEO Mike Gitlin. |
0:05.9 | Investment professionals reveal their best mentors, how they find their next great idea, and a few funny stories. |
0:11.5 | Subscribe wherever you get your podcast. American Funds Distributors, Inc. |
0:19.0 | Welcome to Tech News Briefing. It's Friday, November 1st. I'm Julie Chang for the Wall Street Journal. |
0:25.0 | PayPal will start sharing customer data with retailers. We'll find out how that data could be used and what it means for you. |
0:32.9 | And having trouble falling asleep or staying asleep? New wearable tech has been in the works and could be your solution. |
0:42.3 | Those stories coming up. |
0:48.2 | Starting with PayPal. |
0:50.6 | The payments company plans to start sharing customers' personal data, including information like your |
0:56.0 | pants size, to third-party retailers. |
0:59.1 | That's according to a recent privacy update from the company. |
1:02.4 | Here to break this down for us is WSJ Personal Economics Reporter Imani Moise. |
1:07.9 | Imani, why is PayPal doing this and why now? I think the bigger surprise for me was that they weren't |
1:14.2 | already doing this. I pay closer attention to privacy policies than probably the average consumer. |
1:20.4 | And I've noticed that quite a few banks, like if I go through my credit cards, they disclose that |
1:24.5 | they're sharing this type of data. Well, not as specific as pants size, but in general, my transaction data, I assume it's fair game. So why PayPal is doing this |
1:33.3 | now is because they want to get into this market that other financial firms have been a part of, |
1:37.9 | which is the market of sharing your data or selling your data in some cases. But in order to do that, |
1:42.9 | they have to disclose it to their customers |
1:45.4 | within 30 days, which is why we're having this kind of advanced period where they're letting |
1:50.1 | you know that they're collecting this starting in November, but they won't actually start sharing |
1:53.9 | it until next summer. Do we know how PayPal is using this data? When I spoke to the company, |
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