FTC is studying surveillance pricing and which companies use the practice

📆 18/01/46 08:29 م
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Surveillance pricing uses customer information like their home address, demographic makeup and shopping habits to determine what price to charge individuals for services or products.

The Federal Trade Commission announced it will look into the practice of surveillance pricing to learn more about its potential impacts on privacy and consumers.

Eight companies that offer services to track real-time customer information using artificial intelligence and other technology – Mastercard, Revionics, Bloomreach, JPMorgan Chase, Task Software, PROS, Accenture and McKinsey & Co – were sent orders to provide information about their tracking products to the FTC.

Advancements in the world of technology we now live in have made it easier for companies to harvest personal information about their consumers in larger volumes. And, in some cases, the consumer may not even know their data is being taken or used for that purpose.

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FTC orders 8 companies to provide information on 'surveillance pricing' practicesThe Federal Trade Commission has ordered information from eight companies that the agency says offer products and services that use personal data to set prices based on a shopper’s individual characteristics.
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