I am hearing all about these apps that will give you cash back for uploading your receipts or linking your store rewards card. How does that work? Are these apps just trying to collect data from its users? Why would they give you money for something so simple?
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They’re making more money than what they’re giving you. By sending targeted ad/selling information you provide and what is freely available on the internet or purchased from other sources.
For Example: With receipts, they know what you purchasing, they can cross reference this with other information to know that your a family of 3, living in a suburb, and you recently had/going to have a baby.
From there, they can show more ads about baby products on websearches or sell (“share with partner companies”) the data they have accumulated. And that’s just some of the examples.
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