Credit Agency Requests Access to Consumers’ Social Data

What's Next In Payments®
8:59 PM EDT June 7th, 2012

Schufa, the largest credit rating agency in Germany, is developing tools to mine data from consumers’ social media profiles that would inform those users’ credit scores, Spiegel Online says.

Schufa’s confidential plans were obtained by news outlet NDR this week. When asked for comment, a spokesman for the agency told Spiegel that “everything is happening within the legal frameworks in Germany.”

Read the full story here.

Also by This Author
What's Hot
Analytics Firm Qubit Picks Up Funding
MasterCard Gives Biometrics Start-Up A $14M Boost
Loyalty & Rewards
Google Wallet’s Loyalty Lift
Loyalty & Rewards
Online Marketplace Fashionism’s Rewards Innovation? Cash Rewards
View All Articles ››
You May Also Like
Company Spotlight
Different mPOS Strokes for Different mPOS Folks
Digital River Offers A Sneak Peak At Mobile eCommerce Trends
Mobile Commerce
Trustwave Buys Cenzic To Beef Up App Testing Capability
B2B Payments
PayPal Makes It Easy For Businesses To Attach Invoicing Information
B2B Payments
Why B2B Payments Is Ready To Be Disrupted
B2B Payments
What Kind Of Stamp Will VCs Leave On The B2B Payments Ecosystem?
B2B Payments
Credit Junction Pulls In $2 Million Seed Funding
View All Articles ››