Big data business: Imagine if Visa sold data about you to greedy hedge funds

Big data is big business. Take, for example, the type of data that credit card companies have at their disposal. Access to Visa’s database would essentially provide a real time window on the entire economy. This raises interesting questions about how, when and if certain data should be used. Visa makes billions and billions from its core business and while it could doubtless make more money from its data, it’s probably not worth the risk. Tammer Kamel founder and CEO of Quandl, a technology company that provides a plethora of data sets to financial institutions, said Visa is rightly paranoid about the sort of headlines that imprudent monetisation of transaction data could generate. “Imagine a headline saying: ‘Visa selling your information to greedy hedge funds on Wall Street’. They know…


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