Visa Partners With IMDA To Improve Data Consent Standards
By Digital News Asia January 9, 2023
- Study finds Singapore consumer demands customer-centric data permission models
- Visa releases a set of technical guidelines for collecting data usage permissions
According to a recently released Consumer Data Confidence Research by Visa, almost eight out of 10 (77%) Singaporeans want the option to control their data rather than leaving it up to the discretion of companies and government.
The study was conducted in May 2022 with 2,000 adults in Singapore.
“Data is a defining part of our online experiences, whether you are shopping online for groceries or completing mobile banking transactions. Improving the way businesses request for and manage consumer data is critical to providing consumers with frictionless online commerce and payment experiences,” said Visa Singapore & Brunei country manager, Adeline Kim (pic).
The research also found that two in three Singapore consumers use online shopping and financial services weekly. 65% of them are required to provide personal data almost every time they use an online service.
However, three in four Singaporean consumers (74%) report that companies rarely educate them about data collection policies or data management options, and more than half (52%) believe data policies are written to protect companies’ legal interests rather than their own.
Meanwhile, more than two in three Singapore consumers (67%) believe that all companies should be required to offer standardised requests for collecting personal data, while roughly three in five (64%) say they are more likely to grant permission to companies if standardised requests are offered.
In response, Visa is collaborating with Infocomm Media Development Authority (IMDA) — together with like-minded companies — to develop consent solutions and tools, such as consent purpose and consent flow models to strengthen consumer understanding, control, and comfort with data sharing.
“Establishing standardised permission flows can engender consumer trust. We are heartened by Visa’s ambition to create a seamless and transparent end-to-end experience. We strongly encourage companies to adopt these consumer-centric consent models,” said Yeong Zee Kin, IMDA Data Innovation & Protection Group assistant chief executive and Personal Data Protection Commission (PDPC) deputy commissioner.
At the same time, Visa has released its Consent Management Specification — a set of technical guidelines on how global organisations can establish better processes and improve the user experience for collecting data usage permissions.
These guidelines focus on creating consistent permission experiences for data-sharing requests, enabling consumers to decide what personal data they will share with companies online, and what it will be used for.
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