> When you use Apple Card, our issuing bank and payment network partner — Goldman Sachs and Mastercard — and their service providers receive information about your transaction, including the merchant, time, and amount in order to operate Apple Card. Neither Goldman Sachs nor Mastercard share or sell your transaction information with third parties for advertising or marketing. [0]
Hmm, I wonder why they sell it then? Since they needed the "advertising or marketing" qualifier, they obviously sell data to third parties.
1. Maybe they are selling purchase data to hedge funds? Lots of possible use cases.
2. Maybe some regulation only requires them to disclose if the information is sold for advertising or marketing (I think I remember this showing up on some post-CFPB credit card disclosure forms). Therefore the lack of such a disclosure for other uses for the information could mean nothing, just that they are minimizing discourses that aren’t legally obligated.
Just about anyone with a financial account in the US will probably instantly recognize this form:
https://www.ftc.gov/system/files/documents/rules/privacy-con...