We live in a world where personal data is considered to be the liquid gold of the 21st century. It thus sounded pretty odd when Visa (V) announced that it’s bringing down the shutters on its business that sells personal data. You see, Visa Ad Solutions has been giving advertisers access to Visa’s massive customer base since 2015. Through its partnership with Oracle Data Cloud, the data could recommend the parameters for ad campaigns targeted at specific customer segments.
Visa has provided no explanation for shutting down Ad Solutions, with the company’s spokesperson simply stating that other data-driven services will be explored instead. This leads us to think that Visa won’t be completely doing away with selling personal data anytime soon.
why it matters
Visa's closure of Ad Solutions is good news for Mastercard (MA) and American Express (AXP). The two competitors hold similar data business companies and could benefit from a surge of clients looking for a new place to buy personal data.