Almost 8 in 10 consumers want control of their data: survey

Visa said it’s time for companies to adopt consumer-centric consent models.

More than six in 10 consumers are required to provide personal data every time they use an online service, but companies rarely educate them about data collection policies or data management.

More than half of consumers (52%) also believe that companies wrote their data policies to protect their legal interests.

This is why 77% of consumers now want the option to control their data rather than leaving it up to the discretion of companies and the government.

According to a study by Visa, 67% of consumers believe that all companies should be required to offer standardised requests for collecting personal data, whilst 64% said they are more likely to grant permission to companies if standardised requests are offered.

In response to consumer demands for customer-centric data permission models, Visa collaborated with Infocomm Media Development Authority (IMDA) to explore the industry-led development of consent standards.

Through the partnership, Visa and IMDA will also explore future collaboration opportunities with like-minded companies in Singapore to pilot consent solutions and/or tools.