Visa Europe has taken a minority stake in
Beyond Analysis, the leading customer insight group.
Visa Europe said the investment would
strengthen data analytics capabilities and form part of its
strategy to deliver increased value for consumers, retailers and
banks through electronic payments.
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A Visa Europe report said over £1 in every £4
spent in the UK (€1 in every €8 spent in Europe) is spent on a Visa
debit, credit or prepaid card, and over 11 billion transactions are
processed from across Europe meaning Visa has unrivalled insight
into consumer spending patterns.
Visa Europe said that the data analytics of
cardholder information would be anonymous and does not include
personal or private details.
The advances in data analytics will result in
enhanced customer engagement opportunities for retailers, Visa
said.
Peter Ayliffe, president and CEO of Visa
Europe said:
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By GlobalData“Enhanced data analytics forms a key part of
our vision for the future of payments alongside new technology such
as mobile payments and e-wallets.”
