They may not ‘collect’ it to hold forever, but they do ‘distribute’ it, rather freely, to the highest dollar bid.
False statement. Apple does not collect personal data or sell it. What part of "you are not the product" do you fail to understand? This has been reiterated multiple times. Apple sells hardware, not data, therefore the customers are you, and you are not their product, nor your private information, is to be sold to anyone. Apple won't even let the government get access to it. Even Apple cannot decipher what you store on their servers from your devices.
When Apple says “We don’t even have it.” ... how are they distributing “we don’t have it”? ... LOL ...
Let me post what you have apparently NOT READ in the article ... :-) ...
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You are not our product. That is our product. ... there’s no reason why anyone, or us, that we need to know where you’re buying something, what you’re buying, how much you’re paying, I don’t want to know any of that. It’s none of my business, frankly.
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And THAT is why people are piling on board ALREADY!
That isn’t correct, according to their outright statement that they openly serve as a middleman to transfer your initial token request to your card provider or bank, but once the bank sends your token back to your device in response to your initial request, they delete the transaction.
Doesn’t mean they don’t have your information in an encrypted format for a short period of time, or that it would be possible to do something with it, but it is unlikely to me that they would for the same reason that your bank doesn’t, Amazon doesn’t, and Paypal doesn’t.
Why cut your own throat?
That is not the official policy of any company. If there is someone selling off data to the highest bidder, it usually comes down to an individual abusing his/her position in the business.
“They may not ‘collect’ it to hold forever, but they do ‘distribute’ it, rather freely, to the highest dollar bid.”
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You really do not understand Apple Pay (and the FUNDAMENTAL difference between it and other payment means) or you wouldn’t make such a ridiculous statement.