Worldpay has unveiled Insights Services its big-data analytics proposition, harnessing the power of Worldpay’s payments information enabling retailers to better understand aggregated consumer spend and preferences, both online and in-store.
As the UK’s leading payments processing company, Worldpay handles 42 per cent of card transactions on the high-street and can provide a direct insight into how 63 million cardholders are spending with over 300,000 merchants. This rich source of factual, unbiased and granular information cuts across industry sectors and channels allowing Worldpay to collate a detailed view of consumer spending habits from across the UK.
Worldpay is now making analysis of this data available to customers, giving them a unique and comprehensive market perspective of consumer spending patterns and loyalty behaviours both at a national and local level, by sector, payment type, channel – and even by time of day.
Worldpay’s Insight Services is a flexible analytics service that can act as a standalone solution for businesses that have previously never had access to customer insights tools. It can also complement existing CRM and loyalty systems, offering merchants a suite of reports with a rich stream of data on local and national consumer spending habits.
By unlocking the value of payments data, retailers will be able to run their businesses more effectively and therefore more profitably, by better serving customer trends and better targeting specific preferences and spending habits.
Insights Services allows retailers to;
Tailor stores to local needs at a granular level
Enrich existing CRM and loyalty systems with targeted and holistic views
Benchmark performance against an anonymised peer group
Understand customer purchasing behaviours outside of their own business
Track customer behaviour in new and existing stores
Identify the best new locations for expansion
Target and attract the right profile of customer
Insights Services is available to all Worldpay customers.
On a typical day, Worldpay processes approximately 31 million mobile, online and in-store transactions and in 2014 we supported approximately 400,000 merchants in 126 currencies across 146 countries offering 326 local and alternative methods of payment. Our products and services are delivered by 4,500 staff from our corporate headquarters in London and 25 offices in 11 countries around the world.
Worldpay UK has a 42% market share in the UK and helps businesses of all sizes sell more to their customers by accepting card payments in-store, online, via mail or telephone, and on the move.
For data, background and forecasts on Worldpay: Search CardWeb.com’s CardFlash® Library of more than 58,000 archived articles; Access CardWeb.com’s CardData® for current and historical Performance, Portfolios, Profiles, etc. Visit RAM Research® (ramresearch.com) for quarterly and annual forecasts covering more than 150 metrics. [complimentary or deeply discounted access to CardWeb.com subscribers].
Additional database resources include CardWeb.com’s CardExecs® – comings & goings of payments movers & shakers; CardWeb.com’s CardWatch® – ears & eyes on marketing globally (57K items); and CardWeb.com’s CardPixes® – form & function of card design (7K items).