Worldpay Debuts Transaction Analytics Tool

Payment processing company Worldpay has launched a big data analytics tool called 'Your Marketplace', providing UK retailers with data from 31 million mobile, online and in-store transactions, as well as more than a year's worth of historical card payment data.

Users are able to cut and slice data, to uncover payment drivers and better understand customer payments behaviour. The tool also provides a single source of information on where revenues are being impacted by fraud and chargebacks, helping risk and fraud managers to spot patterns and develop strategies to minimise losses. Worldpay calculates that 'Your Marketplace' could help businesses save an average of 40 hours every month on administration, leaving more time to focus on interpreting the data to identify trends and answer business questions.

The new tool complements Worldpay's existing Consumer Insights solution, which offers a market perspective of shopper spending patterns and loyalty behaviour, by sector, payment type, channel and time of day. UK MD Dave Hobday (pictured) comments: 'Every transaction your customers make tells a story that can help you make smarter business decisions. As a result of the volume of payments we process, we can offer an unrivalled cross-sector view of consumer spending behaviour right across the UK, and really help our customers put big data to work'.

Web site: www.worldpay.com/uk .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.