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Print 12 comment(s) - last by hifidave.. on Apr 13 at 9:37 AM

MasterCard launches new online shopping store that helps customers pick products they're more likely to purchase

MasterCard today rolled out a new online shopping store designed specifically to recommend products consumers are more likely to purchase.

The credit card giant is the latest company to attempt this type of online service, with Visa and American Express also offering similar businesses.  MasterCard's new store has been created with the help of Next Jump, a data mining company that tracks shopper behavior from thousands of different sites.

After a new shopper visits the online store, they'll be asked to select a handful of different online companies they prefer.  Next Jump will then track what each site visitor views, adds to their shopping cart, and purchases online.

The new MasterCard Marketplace has some privacy experts concerned, who are concerned cardholders may be turning over too much private information.  There is a concern sites such as MasterCard Marketplace increase the amount of "social discrimination" shoppers face, University of Pennsylvania professor Joseph 
New York Times Turow told the .

"People might be happy with a Dell 30 percent off, but why did my neighbor get one deal and me another?" he wondered.  "We are accepting this notion that companies have a right to do this."

MasterCard has added additional layers of security, according to the company, including mandatory registration into the marketplace site.  Retailers also will not receive individual customer details, but will receive information on a wider variety of customers.



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Great...
By Amiga500 on 4/12/2010 7:58:23 AM , Rating: 5
Credit card companies line up "irresistable" offers for the dim-witted.

Remind me... how did the whole financial system f**k itself over again?

404ResponsibleBankingNotFound




RE: Great...
By GaryJohnson on 4/12/2010 9:29:56 AM , Rating: 2
quote:
Remind me... how did the whole financial system f**k itself over again?

I can tell you if you sign up for a DailyTech premium rewards charge card.


RE: Great...
By lagitup on 4/12/2010 9:34:25 AM , Rating: 2
At 0%* interest? SWEET!


RE: Great...
By ebakke on 4/12/2010 11:28:11 AM , Rating: 2
In MasterCard's defense, they are not a banking institution. They don't actually loan any money, or try to collect it. That's the bank's responsibility. They're really just a payment processor.


RE: Great...
By aharris on 4/12/2010 12:16:13 PM , Rating: 2
While at the same time they're in bed with the banks who did show extreme financial irresponsibility.

I'm sorry, but after loaning out (how many?) billions to them, that entire industry is subject to guilt by association.


RE: Great...
By Anoxanmore on 4/12/2010 1:43:13 PM , Rating: 2
Then you should really be angry at American Express, since they are still a bank (albeit they do offer some just processing to other banks).

Mastercard hasn't been an actual bank since the late 70s, same for Visa.

Remember their "Black" card? I mean did anyone in the 90s really need a 3,500 annual fee and a 400,000 credit limit?


RE: Great...
By Director on 4/12/2010 4:52:46 PM , Rating: 2
" They don't actually loan any money, or try to collect it. That's the bank's responsibility. "

Actually neither of them loan any money, they simply create it out of thin air and then get you to pay it back with interest. That's how things went pear-shaped, that's why things are still pear-shaped and stealing trillions of dollars from citizens to give to these criminals is only postponing the inevitable.


Busybodies...
By Suntan on 4/12/2010 1:46:26 PM , Rating: 2
quote:
"People might be happy with a Dell 30 percent off, but why did my neighbor get one deal and me another?" he wondered. "We are accepting this notion that companies have a right to do this."


Personally, I think a store proprietor of discretionary merchandise *should* have the ability to set the prices any way they see fit. Car dealers do it, airlines do it, and many others do too. Haggling (ultimately setting the price as high as you think each individual customer will accept) may not be a very fun thing to do, but it is the oldest form of transaction in history. Why shouldn’t it be allowed to be updated to modern, electronic standards?

Busybodies. They won’t be content until…

-Suntan




RE: Busybodies...
By UnWeave on 4/12/2010 3:29:56 PM , Rating: 2
I agree with what you've said, but I think the issue here is that you can't 'haggle back'. They will set the price/only display certain offers based on what their data suggests they can get away with.

Although, if this is true:
quote:
MasterCard has added additional layers of security, according to the company, including mandatory registration into the marketplace site. Retailers also will not receive individual customer details, but will receive information on a wider variety of customers.

Then I don't see how they can implement any kind of individual-specific pricing system. Maybe it'll just work based on if you are in a certain age group/geographical location etc?


RE: Busybodies...
By hifidave on 4/13/2010 9:37:50 AM , Rating: 2
It's likely that if these proprietors are operating online and offering "great deals" that there isn't much profit margin room for haggling anyways. They should be able to set their prices at "what they can get away with" because that's business. If their prices are too high or people can get a better deal elsewhere, then they won't buy from them.

It seems like many of the posters on here (not necessarily you) forget about consumer choice. I don't subscribe to the idea of legislation to protect people from their own stupidity.


Just not fair!
By Ristogod on 4/12/2010 9:40:06 AM , Rating: 4
quote:
but why did my neighbor get one deal and me another?" he wondered. "We are accepting this notion that companies have a right to do this."


<sarcasm>

Oh gee. It must be because of their skin color or religion or political beliefs, right? I mean that only makes sense as it's a business's top priority to ruin their reputation in the market over such practices. I think it's best we get the government involved and hopefully they'll regulate this to the hilt. Only the government can truly make everything equal and fair for all.

</sarcasm>




By tastyratz on 4/12/2010 8:46:00 AM , Rating: 2
Anyon ever been on overwhelmingoffers.com?
Mastercard has run a program with affiliates for awhile- visa too... This is just an extension of what they are already doing albeit more in depth.




"Let's face it, we're not changing the world. We're building a product that helps people buy more crap - and watch porn." -- Seagate CEO Bill Watkins











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