PayPal Launches Ad Network Leveraging Venmo Data and AI

PayPal is developing an advertising platform leveraging transaction data from PayPal and Venmo users, led by former Uber Advertising VP Mark Grether. The platform will use customer purchase information to help merchants target ads more effectively, with data collection being the default but offering opt-out options. The initiative is in early stages, with privacy controls promised. This move aligns with similar strategies by companies like Facebook, JPMorgan Chase, and Visa.