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Article: For Visa and MasterCard, consumer privacy concerns become common ground.(consumer privacy principles)(Brief Article)
- Article from:
- American Banker
- Article date:
- April 11, 1996
- Author:
CopyrightCOPYRIGHT 1996 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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MasterCard and Visa have separate but similar consumer privacy policies. Which should their members embrace?
Uncharacteristically, the bank card associations say they don't care, so long as their members do something to address consumer privacy issues.
"Don't pick one over the other," advised Charlotte Newton, vice president for consumer and government affairs at MasterCard. "In essence, they say the same thing."
Consumer privacy is one of the few issues on which Visa and MasterCard do not compete.
Still, Visa developed 10 privacy "principles" in May 1995 for its members to use as a guide in developing their own policies. Similarly, MasterCard ...