The EU has been voicing its opinions lately about how important child safety is when dealing with online platforms. This includes how many tech giants need to do more to ensure the right safeguards are in place.
The latest target of the European Commission (EC) seemed to be Meta And Snap and we’re not surprised, as we've seen how other tech giants are being dragged into this. Both Meta and Snap are beyond popular for youngsters and after seeing the EC deal with similar firms in the past, it was obvious that these two companies were next.
Keeping the Digital Services Act (DSA) in mind, the EC is now urging both tech giants to be more transparent regarding their policies for children’s protection. Yesterday, it requested to provide a detailed outlook on how they’re working to ensure young users remain safe from the many hazards at stake.
Remember, the EU has requested both TikTok and YouTube to put their many policies on display by the end of November as per reports from Reuters. However, for whatever reason, they’re giving Meta and Snap to do the same by the first of next month.
All of these rules arise under the famous DSA that has been designed to keep all members of the EU safe from online hazards and put an end to the unlawful practices that tech giants are indulging in.
Moreover, it’s similarly calling out for a total ban on things like advertising for youngsters. So as you can see, the EC isn’t taking any risks when it comes to children, whether the apps like it or not.
But many feel that with the DSA in its place, the EC will gain the command to scrutinize the firms better and their respective operations, in case they are not happy with the measures being taken by them.
Similarly, the EU will also be charging huge fines that go all the way up to 6% of the company’s profit turnover from their global earnings.
The news was clearly delineated by the commission that says in the recently published press release how they are quoting Article 74 (2) of the Digital Services Act. This would give them full authority to put out fines for data or actions that they deem to be unlawful, wrong, or simply misleading. And that would be the response for all such data.
In case no such replies are generated from the company’s end, the EC holds the right to request data through a decision. In such circumstances, no response generated by the deadline period may result in forceful payments of penalties as outlined above.
Remember, just last month, we witnessed the Digital Services Act give a shoutout to the likes of TikTok as well as Meta to speak on issues linked to disinformation. This was to keep all kinds of content that was violent, hateful, explicit, and abusive at bay on such platforms.
The news arose at a time right after we saw the EC request Twitter, now X, makes similar changes and follows the right framework of design.
So as one can tell, the pressure is on in terms of large-scale companies working around the EU region who will now be answerable for not doing enough to ensure children’s rights are protected at all times online.
Read next: The Apple Exception - How Cupertino's Tech Giant Carved a Quiet Corner on Amazon
by Dr. Hura Anwar via Digital Information World
"Mr Branding" is a blog based on RSS for everything related to website branding and website design, it collects its posts from many sites in order to facilitate the updating to the latest technology.
To suggest any source, please contact me: Taha.baba@consultant.com
Saturday, November 11, 2023
Friday, November 10, 2023
The Apple Exception: How Cupertino's Tech Giant Carved a Quiet Corner on Amazon
In the bustling digital marketplace of Amazon, where ads clamor for attention like a flock of seagulls at a beach picnic, Apple has managed to carve out a serene oasis for its products. It's like walking into a noisy party and finding a quiet corner just for Apple devices, free from the din of competing ads and rival products.
Back in 2018, Apple and Amazon shook hands on a deal, probably with a wink and a nod, ensuring that Apple's product pages would look as clean and undisturbed as a freshly made cake (perfect and unblemished). This means when you search for an "iPhone" or "iPad," you're greeted with a page so uncluttered it might remind you of a Zen garden, compared to the usual ad-infested jungle for other brands.
Imagine searching for a Samsung Galaxy and being bombarded with ads for everything from phone cases to rival smartphones, much like trying to watch a movie only to be interrupted by a flurry of popcorn ads. In contrast, Apple's pages are like a private screening room, where only Apple's own ads are allowed to whisper gently in the background.
The reason? Apple, in its typical fashion, wanting to keep its brand as spotless as a white turtleneck, asked Amazon to turn down the noise on its product pages. This is akin to a celebrity asking for only green M&Ms in their dressing room – a bit diva-esque but effective.
Now, this doesn't just stop at product pages. Even Amazon's search algorithm seems to tip its hat to Apple. Searching for Apple products is like having a VIP pass, bypassing the usual crowd of ads, while searching for other brands feels more like a treasure hunt, sifting through a myriad of ads to find what you're looking for.
This special treatment has caused some ripples in the tech pond. Competitors like Samsung are looking over the fence with a mix of envy and irritation, wondering why they can't have the same serene ad-free space for their products.
Amazon's overall strategy has been more about cramming ads into its site like a college student trying to fit one more textbook into an already overstuffed backpack. The result? A marketplace that risks being as confusing, cluttered and bulky as a teenager's beg. But for Apple, Amazon seems to have made an exception, creating a space as clean and focused as a monk's cell.
It's not just about aesthetics; there's a method to this madness. Less clutter means faster loading times, and in the e-commerce world, speed translates to sales. It's like being able to skip the line at your favorite coffee shop – you're more likely to come back if you don't have to wait.
In summary, Apple's unique positioning on Amazon, characterized by minimal advertising and competitor presence, showcases a strategic alliance (or a classic monopoly tactic) that prioritizes brand integrity and user experience, setting it apart from the norm in Amazon's marketplace.
Photo: DIW
Read next: iOS 17.2 Beta Reveals Sideloading, Signaling Major Change in Apple's App Distribution Approach
by Irfan Ahmad via Digital Information World
Back in 2018, Apple and Amazon shook hands on a deal, probably with a wink and a nod, ensuring that Apple's product pages would look as clean and undisturbed as a freshly made cake (perfect and unblemished). This means when you search for an "iPhone" or "iPad," you're greeted with a page so uncluttered it might remind you of a Zen garden, compared to the usual ad-infested jungle for other brands.
Imagine searching for a Samsung Galaxy and being bombarded with ads for everything from phone cases to rival smartphones, much like trying to watch a movie only to be interrupted by a flurry of popcorn ads. In contrast, Apple's pages are like a private screening room, where only Apple's own ads are allowed to whisper gently in the background.
The reason? Apple, in its typical fashion, wanting to keep its brand as spotless as a white turtleneck, asked Amazon to turn down the noise on its product pages. This is akin to a celebrity asking for only green M&Ms in their dressing room – a bit diva-esque but effective.
Now, this doesn't just stop at product pages. Even Amazon's search algorithm seems to tip its hat to Apple. Searching for Apple products is like having a VIP pass, bypassing the usual crowd of ads, while searching for other brands feels more like a treasure hunt, sifting through a myriad of ads to find what you're looking for.
This special treatment has caused some ripples in the tech pond. Competitors like Samsung are looking over the fence with a mix of envy and irritation, wondering why they can't have the same serene ad-free space for their products.
Amazon's overall strategy has been more about cramming ads into its site like a college student trying to fit one more textbook into an already overstuffed backpack. The result? A marketplace that risks being as confusing, cluttered and bulky as a teenager's beg. But for Apple, Amazon seems to have made an exception, creating a space as clean and focused as a monk's cell.
It's not just about aesthetics; there's a method to this madness. Less clutter means faster loading times, and in the e-commerce world, speed translates to sales. It's like being able to skip the line at your favorite coffee shop – you're more likely to come back if you don't have to wait.
In summary, Apple's unique positioning on Amazon, characterized by minimal advertising and competitor presence, showcases a strategic alliance (or a classic monopoly tactic) that prioritizes brand integrity and user experience, setting it apart from the norm in Amazon's marketplace.
Photo: DIW
Read next: iOS 17.2 Beta Reveals Sideloading, Signaling Major Change in Apple's App Distribution Approach
by Irfan Ahmad via Digital Information World
iOS 17.2 Beta Reveals Sideloading, Signaling Major Change in Apple's App Distribution Approach
In the tech world, change is as certain as a new iPhone release every year. Speaking of iPhones, Apple is stirring the pot with its latest update, iOS 17.2. For years, Apple has been like that overprotective parent, deciding which apps we can play with on our iPhones. But now, it seems they're loosening the leash.
iOS 17.2 hints at something revolutionary – sideloading. It's a tech term that, in plain English, means downloading apps from places other than the App Store. Imagine being able to choose your pizza toppings instead of always getting plain cheese – that's sideloading for you.
This change didn't just come out of the blue. It's like when you've been ignoring your chores, and mom finally lays down the law. Here, the European Union is playing mom with its Digital Markets Act. They told Apple, "Let the kids have more apps!" and it seems Apple is listening.
The EU's big push is about fair play in the tech playground. They want to make sure the big kids (ahem, tech giants) don't hog all the swings. And Apple, facing the pressure, is showing signs of playing nice. In the iOS 17.2 beta, there's a hint of a new feature called "Managed App Distribution." It sounds like a fancy term for letting us have more app choices.
It's a bit like when you discover hidden features in your car – suddenly, you realize there's more to it than just driving. This iOS feature could let developers create their own mini app stores. Imagine that – a world where you're not just stuck with what Apple gives you.
But don't get too excited yet. Apple might be limiting this freedom to just certain regions, like Europe. It's a bit like when Netflix has cool shows in one country but not in yours. So, not all of us might get to enjoy this app freedom.
Remember, Apple has until March 2024 to comply with the EU's rules. It's like they have a homework deadline, and they're doing it, but maybe not enthusiastically. They've even hinted in a filing that this could change their App Store's business model. That's corporate speak for "We might make less money, but we'll adapt."
So, while Apple tries to figure out how to let us have our app cake and eat it too, we can look forward to a possible future where our iPhones are a little less like Alcatraz and a bit more like a playground. Let's just hope that when the time comes, we don't get lost in the sea of apps. Because let's be honest, most of us are still trying to figure out half the apps we already have.
Read next: Google Search's Unshaken Throne: Assessing the Alleged Threat from ChatGPT
by Irfan Ahmad via Digital Information World
iOS 17.2 hints at something revolutionary – sideloading. It's a tech term that, in plain English, means downloading apps from places other than the App Store. Imagine being able to choose your pizza toppings instead of always getting plain cheese – that's sideloading for you.
This change didn't just come out of the blue. It's like when you've been ignoring your chores, and mom finally lays down the law. Here, the European Union is playing mom with its Digital Markets Act. They told Apple, "Let the kids have more apps!" and it seems Apple is listening.
The EU's big push is about fair play in the tech playground. They want to make sure the big kids (ahem, tech giants) don't hog all the swings. And Apple, facing the pressure, is showing signs of playing nice. In the iOS 17.2 beta, there's a hint of a new feature called "Managed App Distribution." It sounds like a fancy term for letting us have more app choices.
It's a bit like when you discover hidden features in your car – suddenly, you realize there's more to it than just driving. This iOS feature could let developers create their own mini app stores. Imagine that – a world where you're not just stuck with what Apple gives you.
But don't get too excited yet. Apple might be limiting this freedom to just certain regions, like Europe. It's a bit like when Netflix has cool shows in one country but not in yours. So, not all of us might get to enjoy this app freedom.
Remember, Apple has until March 2024 to comply with the EU's rules. It's like they have a homework deadline, and they're doing it, but maybe not enthusiastically. They've even hinted in a filing that this could change their App Store's business model. That's corporate speak for "We might make less money, but we'll adapt."
So, while Apple tries to figure out how to let us have our app cake and eat it too, we can look forward to a possible future where our iPhones are a little less like Alcatraz and a bit more like a playground. Let's just hope that when the time comes, we don't get lost in the sea of apps. Because let's be honest, most of us are still trying to figure out half the apps we already have.
Read next: Google Search's Unshaken Throne: Assessing the Alleged Threat from ChatGPT
by Irfan Ahmad via Digital Information World
Thursday, November 9, 2023
The Watermelon is a Symbol of Palestinian Protest on TikTok and Instagram
The current conflict between Israel and Hamas has created a ripple effect that has spilled out onto various walks of life. It turns out that users on Instagram as well as TikTok have been using a longstanding symbol of Palestinian resistance the get the message across: the watermelon. This is used to replace mentions of Palestine and Gaza in their posts.
With all of that having been said and now out of the way, it is important to note that users are turning to the watermelon emoji as a way to circumvent perceived censorship against the cause. Much like the Palestinian flag, the watermelon contains red, green and black. This makes it easier to spread awareness about the plight of Palestinian people than might have been the case otherwise.
According to Palestinian health authorities, the Israeli governments retaliation against Gaza has led to the deaths of 10,000 people, many of whom are children with all things having been considered and taken into account. In spite of the fact that this is the case, hashtags and symbols representing Palestine have been suppressed by platforms like TikTok. While the platform denies doing anything of the sort, users continue to operate under the assumption that their voices are being stifled.
This is a pertinent example of a social media phenomenon known as “algospeak”. Users often swap words with emoji because of the fact that this is the sort of thing that could potentially end up allowing them to bypass algorithmic settings that can be difficult to work around, and it seems that the recent conflict has given rise to it yet again.
Another popular way to refer to Palestine without directly referencing it is the olive tree. It is a commonly used symbol of Palestinian resistance, although it has closer ties to the actual plight of people living under Israeli Occupation in the West Bank as well as the Gaza strip.
Palestinian culture places a lot of stock in olives, and watermelons are frequently used in their cuisine. With the Israeli government effectively banning all pro-Palestine demonstrations in 1967, people had to turn towards ever more creative methods to keep the fight alive, and it appears that this has now spread to social media as well. Israel responded by cracking down on Palestinian artists that used any kind of black, red and green in their artwork.
Photo: DIW
Read next: Leaker Signals Threads' Potential Expansion into EU Markets
by Zia Muhammad via Digital Information World
With all of that having been said and now out of the way, it is important to note that users are turning to the watermelon emoji as a way to circumvent perceived censorship against the cause. Much like the Palestinian flag, the watermelon contains red, green and black. This makes it easier to spread awareness about the plight of Palestinian people than might have been the case otherwise.
— ꜱᴜᴇᴀɴɴᴀᴊᴏᴇ 〄 🏴☠️️ (@sueannajoe_) October 27, 2023
#FreePalestine #CeasefireForGazaNOW
— kurboi 🇵🇸 @ STICKERCON MNL (@kurb0i) November 6, 2023
I hope that the sun will shine again for our Palestinian friends. pic.twitter.com/IhOdYCMOlX
According to Palestinian health authorities, the Israeli governments retaliation against Gaza has led to the deaths of 10,000 people, many of whom are children with all things having been considered and taken into account. In spite of the fact that this is the case, hashtags and symbols representing Palestine have been suppressed by platforms like TikTok. While the platform denies doing anything of the sort, users continue to operate under the assumption that their voices are being stifled.
This is a pertinent example of a social media phenomenon known as “algospeak”. Users often swap words with emoji because of the fact that this is the sort of thing that could potentially end up allowing them to bypass algorithmic settings that can be difficult to work around, and it seems that the recent conflict has given rise to it yet again.
Another popular way to refer to Palestine without directly referencing it is the olive tree. It is a commonly used symbol of Palestinian resistance, although it has closer ties to the actual plight of people living under Israeli Occupation in the West Bank as well as the Gaza strip.
Palestinian culture places a lot of stock in olives, and watermelons are frequently used in their cuisine. With the Israeli government effectively banning all pro-Palestine demonstrations in 1967, people had to turn towards ever more creative methods to keep the fight alive, and it appears that this has now spread to social media as well. Israel responded by cracking down on Palestinian artists that used any kind of black, red and green in their artwork.
Photo: DIW
Read next: Leaker Signals Threads' Potential Expansion into EU Markets
by Zia Muhammad via Digital Information World
TikTok is the Least Secure Social Media Platform, New Study Reveals
Platforms like Facebook as well as Twitter ended up facing stiff competition after TikTok threatened to supplant them thanks to its precise emphasis on Gen Z and other important demographics. Despite the stunning rise to the top that it managed to implement, it turns out that TikTok is not quite as successful in terms of offering users a decent level of privacy and security.
In a recent study conducted by Cerby, it was revealed that TikTok was the least secure platform of all, with Twitter, Instagram, Facebook and YouTube surpassing it by rather large margins. Each and every one of these platforms were judged based on six parameters. These parameters were two factor authentication methods, enterprise grade authentication, role based access control, account usage profiling, privacy and enterprise ready security.
Facebook received the highest score of 3.74, followed by YouTube with 3.15. X, formerly known as Twitter, got a less impressive score of 2.95, whereas Instagram did even worse with 2.78. However, TikTok got an abysmally low score of 2.5, which seems to suggest that the platform is seriously lagging behind in one of the most critical areas that it should ideally be focusing on.
The cybersecurity company behind this study suggested that political leaders should avoid using platforms with a rating lower than 2.6 because of the fact that this is the sort of thing that could potentially end up putting them at risk.
It bears mentioning that the average score for social media platforms was just 2.54 back in 2022, but it has increased by 18.9% to 3.02 this year. Privacy controls in particular saw a 25% improvement, driven mostly by Facebook which indicates that the struggling platform is trying to mend its relationship with users after a series of controversies and setbacks.
If TikTok is unable to catch up to its competitors, its future might end up being not quite as rosy as it is in the here and now. Security is a paramount concern, and failing to provide users with as much security as they have reasonably come to expect could lead to a decrease in its popularity It will be interesting to see if TikTok is able to find its way out of these murky waters similarly to how Facebook managed to do so.
Read next: Increased ad spend forecasted despite potential recession, focusing on digital engagement
by Zia Muhammad via Digital Information World
In a recent study conducted by Cerby, it was revealed that TikTok was the least secure platform of all, with Twitter, Instagram, Facebook and YouTube surpassing it by rather large margins. Each and every one of these platforms were judged based on six parameters. These parameters were two factor authentication methods, enterprise grade authentication, role based access control, account usage profiling, privacy and enterprise ready security.
Facebook received the highest score of 3.74, followed by YouTube with 3.15. X, formerly known as Twitter, got a less impressive score of 2.95, whereas Instagram did even worse with 2.78. However, TikTok got an abysmally low score of 2.5, which seems to suggest that the platform is seriously lagging behind in one of the most critical areas that it should ideally be focusing on.
The cybersecurity company behind this study suggested that political leaders should avoid using platforms with a rating lower than 2.6 because of the fact that this is the sort of thing that could potentially end up putting them at risk.
It bears mentioning that the average score for social media platforms was just 2.54 back in 2022, but it has increased by 18.9% to 3.02 this year. Privacy controls in particular saw a 25% improvement, driven mostly by Facebook which indicates that the struggling platform is trying to mend its relationship with users after a series of controversies and setbacks.
If TikTok is unable to catch up to its competitors, its future might end up being not quite as rosy as it is in the here and now. Security is a paramount concern, and failing to provide users with as much security as they have reasonably come to expect could lead to a decrease in its popularity It will be interesting to see if TikTok is able to find its way out of these murky waters similarly to how Facebook managed to do so.
Read next: Increased ad spend forecasted despite potential recession, focusing on digital engagement
by Zia Muhammad via Digital Information World
YouTube Rolls Out Exciting New Changes For Its Users And Here’s What To Expect
YouTube is famous for listening to feedback from its users and then incorporating them into the app. And the company’s recent rollout of changes is certainly no exception to the norm.
For starters, we’re hearing more about how the platform is expanding its YouTube Collab Shorts remix feature. This innovative offering gives creators the chance on iOS can make use of collabs for both long and short-form videos.
It’s a fun and exciting new means for allowing creators to interact more with others. You can avail of the offering today by clicking on the icon for Remix from the watch page and pressing on Collab for either short or long-form videos.
With this, creators are given the chance to play around with video content that’s at least 60 seconds in duration and can even engage with all sorts of layouts on offer for that fun twist. Moreover, you’ll then be given the chance to record your short alongside the original video so it can play simultaneously.
The feature is only restricted to iOS users for now but YouTube promises it’s coming for Android users very soon so just a little more waiting.
Next up, the app is giving its users the chance to better customize the tab called Home. The goal they seem to be seeking is a one-size-fits-all endeavor and that means making sure the page that belongs to their channel appears the same to everyone who comes to visit it.
This should be independent of the fact that anyone is seeing the video for the first time or if they’re seeing it for the 100th. And to ensure that, YouTube has rolled out a new option with a better tab called For You.
So to cater to that, YouTube just launched a way to provide them with customized offerings and recommendations that cater or are tailored for viewers that visit the channel. Hence, you can imagine it being a great tab for those creators who are offering diversity on the channel. This includes content that’s diverse, different, and covers a wide range of topics and can be found in various languages.
Hence, if you want to make the most of it, simply select any time of content that comes in the For You section. You can even add content that’s launched very recently like the past year. You can disable it by unclicking it on either your desktop or mobile’s Home page as it’s already selected.
We think this is a great section of giving users a taste of what the channel has to offer but gives them the chance to engage more with live streams and the latest offerings by the creator in a more personalized manner.
The feature is ready to go live for everyone by November 20 and we highly recommend you give the For You feature a try to benefit from it.
Last but not least, YouTube is launching a list of updates to Tabs that are found on the channel page. Creators will be given the chance to hide a certain tab if it happens to be empty or simply isn’t ready for a launch. This is designed to eliminate clutter.
Similarly, YouTube will remove the About Tab from the creator’s page. You can access the same information about the creator by clicking on their name and getting that data over there. Thirdly, the app is getting rid of the button designated as Tab. You can already find the content from the Highlights page and you can get it from the bottom left navigation button so no need for extra clutter.
There will also be some esthetic refreshes for channels so that more content can be added while ensuring it’s more appealing and less overwhelming for everyone, giving a streamlined appeal.
Read next: Google's Latest Study Challenges AI's Ascent to Human Intelligence
by Dr. Hura Anwar via Digital Information World
For starters, we’re hearing more about how the platform is expanding its YouTube Collab Shorts remix feature. This innovative offering gives creators the chance on iOS can make use of collabs for both long and short-form videos.
It’s a fun and exciting new means for allowing creators to interact more with others. You can avail of the offering today by clicking on the icon for Remix from the watch page and pressing on Collab for either short or long-form videos.
With this, creators are given the chance to play around with video content that’s at least 60 seconds in duration and can even engage with all sorts of layouts on offer for that fun twist. Moreover, you’ll then be given the chance to record your short alongside the original video so it can play simultaneously.
The feature is only restricted to iOS users for now but YouTube promises it’s coming for Android users very soon so just a little more waiting.
Next up, the app is giving its users the chance to better customize the tab called Home. The goal they seem to be seeking is a one-size-fits-all endeavor and that means making sure the page that belongs to their channel appears the same to everyone who comes to visit it.
This should be independent of the fact that anyone is seeing the video for the first time or if they’re seeing it for the 100th. And to ensure that, YouTube has rolled out a new option with a better tab called For You.
✨ introducing the “For you” section of your channel Home tab that recommends a mix of content from your channel to viewers based on their watch history
— TeamYouTube (@TeamYouTube) November 8, 2023
🚨 creators: review your settings & select formats before we roll out to viewers on 11/20
more: https://t.co/FNZUVWVPEA pic.twitter.com/0ga30rU1JC
So to cater to that, YouTube just launched a way to provide them with customized offerings and recommendations that cater or are tailored for viewers that visit the channel. Hence, you can imagine it being a great tab for those creators who are offering diversity on the channel. This includes content that’s diverse, different, and covers a wide range of topics and can be found in various languages.
Hence, if you want to make the most of it, simply select any time of content that comes in the For You section. You can even add content that’s launched very recently like the past year. You can disable it by unclicking it on either your desktop or mobile’s Home page as it’s already selected.
We think this is a great section of giving users a taste of what the channel has to offer but gives them the chance to engage more with live streams and the latest offerings by the creator in a more personalized manner.
The feature is ready to go live for everyone by November 20 and we highly recommend you give the For You feature a try to benefit from it.
Last but not least, YouTube is launching a list of updates to Tabs that are found on the channel page. Creators will be given the chance to hide a certain tab if it happens to be empty or simply isn’t ready for a launch. This is designed to eliminate clutter.
Similarly, YouTube will remove the About Tab from the creator’s page. You can access the same information about the creator by clicking on their name and getting that data over there. Thirdly, the app is getting rid of the button designated as Tab. You can already find the content from the Highlights page and you can get it from the bottom left navigation button so no need for extra clutter.
There will also be some esthetic refreshes for channels so that more content can be added while ensuring it’s more appealing and less overwhelming for everyone, giving a streamlined appeal.
Read next: Google's Latest Study Challenges AI's Ascent to Human Intelligence
by Dr. Hura Anwar via Digital Information World
Tuesday, November 7, 2023
CFPB Eyes Tech Giants for Stringent Financial Oversight
In a bold initiative to enhance consumer protection in the digital economy, the U.S. consumer finance agency has put forward a plan to regulate the burgeoning digital payment sector. This move targets tech behemoths and their e-wallet services, aiming to bring them under similar scrutiny as banks. The Consumer Financial Protection Bureau (CFPB) is set to oversee these platforms to ensure they adhere to privacy and anti-deception laws.
The proposed regulation could impact an estimated 17 entities that manage a colossal 13 billion transactions each year. Despite the CFPB's discretion on the full list, names like ApplePay, CashApp, GooglePay and PayPal are in the spotlight. Their response to these proposed changes has been muted, with Google withholding comments and others yet to make a statement.
CFPB Director Rohit Chopra is spearheading this push, continuing his critical stance on Big Tech's handling of consumer privacy and competitive practices. Since taking the helm in 2021, Chopra has been honing in on how these giants use customer data and their payment mechanisms.
Chopra's recent comments shed light on concerns about excessive data harvesting by tech companies, likening it to surveillance practices. With the new rule, the agency aims to eliminate loopholes that currently allow tech companies to operate with less regulation than traditional banks, leveling the playing field across the financial ecosystem.
Banking associations have welcomed the proposal, underscoring the necessity for equitable consumer safeguards regardless of the financial service provider. The plan is now open for public feedback until early 2024, offering a platform for discourse on the future of financial oversight in the tech age.
Read next: LinkedIn Global Talent Trends 2023: Hiring Continues To Spiral Downwards And It’s Negatively Impacting Employees
by Irfan Ahmad via Digital Information World
The proposed regulation could impact an estimated 17 entities that manage a colossal 13 billion transactions each year. Despite the CFPB's discretion on the full list, names like ApplePay, CashApp, GooglePay and PayPal are in the spotlight. Their response to these proposed changes has been muted, with Google withholding comments and others yet to make a statement.
CFPB Director Rohit Chopra is spearheading this push, continuing his critical stance on Big Tech's handling of consumer privacy and competitive practices. Since taking the helm in 2021, Chopra has been honing in on how these giants use customer data and their payment mechanisms.
Chopra's recent comments shed light on concerns about excessive data harvesting by tech companies, likening it to surveillance practices. With the new rule, the agency aims to eliminate loopholes that currently allow tech companies to operate with less regulation than traditional banks, leveling the playing field across the financial ecosystem.
Banking associations have welcomed the proposal, underscoring the necessity for equitable consumer safeguards regardless of the financial service provider. The plan is now open for public feedback until early 2024, offering a platform for discourse on the future of financial oversight in the tech age.
Read next: LinkedIn Global Talent Trends 2023: Hiring Continues To Spiral Downwards And It’s Negatively Impacting Employees
by Irfan Ahmad via Digital Information World
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