You could be paying more than your neighbor for the same product from the same vendor
WTF?
The FTC’s action comes in response to growing concerns about privacy and fairness in digital commerce.
The FTC unanimously voted to open an investigation into so-called “surveillance pricing.”
It alreadyorderedeight companies, including Mastercard, to provide detailed information about their surveillance pricing practices.
Critics argue that this practice is invasive and creates an unfair marketplace where pricing is not transparent.
“Firms that harvest Americans' personal data can put people’s privacy at risk.
The 6(b) orders require companies to disclose detailed information about their data collection and pricing algorithms.
“This term’s negative connotations may suggest that personalized pricing is necessarily a nefarious practice.
This investigation highlights the growing need for regulatory oversight in the age of AI and big data.
Image credits:Kite Rin,Valeri Luzina
