Google has cut a deal with Mastercard in order to track credit card data, according to a recent Bloomberg report.
Bloomberg's report stated that the deal has been in the works for the past four years, with the partnership said to provide Google with insights it can use to measure retail spending, which has formed part of its strategy to secure business against competitors such as Amazon.
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A new tool which tracks whether ads lead to in-store purchases was launched last year under the name of Store Sales Measurement providing access to approximately 70% of US credit and debit cards, Bloomberg revealed. The access to the public's data has raised privacy concerns, Myles Jackman, director from the Open Rights Group, commented, "This raises serious concerns regarding the use of private financial data."
However, in a statement to Bloomberg, Google said: "Before we launched this beta product last year, we built a new, double-blind encryption technology that prevents both Google and our partners from viewing our respective users' personally identifiable information."