Magazine Article | September 23, 2013

How Payment Processors Can Be Your New Source For BI

Source: Innovative Retail Technologies

By Bob Johns

October 2013 Integrated Solutions For Retailers

Payment processors gather a myriad of transactional and consumer data that can be a boon for retailers struggling to understand their customers.

Retailers everywhere have begun to focus on creating an engaging customer experience, relying on Big Data to create a 360-degrree view of the customer across all channels. This is nearly unachievable if the retailers are unable to gather the pertinent data and compile it in an actionable format. Payment processors are emerging providers of high-level data on consumers, their buying habits, and even channel preferences. Here, we sit down with Gary T. Staub, chief sales and marketing officer with Sterling Payment Technologies, to discuss how payment processors can be retailers’ new source for Big Data.