Technology
Companies Seek Ways to Hold On to Customer Data Under New EU Privacy Law
Paying for data and offering better prices and loyalty points are among the ways they’re hoping to convince consumers.
Nicholas Oliver, chief executive officer of People.io.
Source: People.ioThis article is for subscribers only.
Nicholas Oliver gathers reams of personal information about users of his mobile app: age, sex, location, profession, relationship status, and more—and uses it to send them targeted advertising. It sounds like just the sort of business model that might be in jeopardy once the European Union’s sweeping General Data Protection Regulation (GDPR) takes effect on May 25.
But Oliver’s not worried. His London startup, People.io, which provides market research for companies and gives them a pool of potential recipients of targeted advertising, makes it clear to customers why they are handing over their information. It even pays them to do so.