The research demonstrated a range of consumer viewpoints regarding the use of personal information, such as transaction and demographic data. MasterCard's role is to continually update our understanding of consumer's evolving privacy needs and to be available to support members as they develop their own tailored approaches to information management. MasterCard's commitment to privacy also includes member and consumer education programs. Together with our members, our goal is to assure MasterCard cardholders a level of privacy that meets their reasonable expectations, while also enabling our member institutions to extend relevant offerings to interested consumers. Rather than attempting to set forth an exhaustive list of guidelines, which would be of decreasing value in light of the ever-changing technological landscape, MasterCard has worked with member financial institutions to structure a framework within which our members can develop privacy guidelines, policies or principles that are consistent with their unique corporate programs and philosophies.
Concern regarding the use of personal information varies from consumer to consumer.
Many consumers appreciate the beneficial and useful product offerings they receive from businesses because such offerings are often tailored to their individual needs. At the same time, the interest of consumers in having access to information and offerings should not be inhibited. Financial institutions should remain sensitive to the privacy expectations of their customers. Develop procedures to safeguard the security of consumers' personal information, governing access to, use of and disclosure of personal information. Financial institutions should ensure that consumer information is securely stored and that such data is available only to those employees who have a legitimate business need and authorization to access the data.