At a basic level, payment data will reveal the things you purchased. But combine this with when you bought them, what the weather was like, what else you bought and so on, and a retailer can really start to understand its customers. At Money 20/20 last month, Wirecard launched a new service to crunch payment data. MEF talked to its EVP of mobile services Jörn Leogrande…

In the transition to digital commerce, all businesses are encouraged to think about data. Experts advise them to analyse everything a customer does in the lead up to a payment.

This process assumes that the end-result is the transaction. But why can’t the payment data itself be part of the analytical mix?

Well, Wirecard thinks it can.

mobile shopping

Last month the German payment specialist launched its Omnichannel ePOS Suite. Wirecard already provides payment processing for thousands of merchants. Now, it wants to help them get insights too.


Thus, retailers can use the web dashboard to analyse payment data in combination with other data sources. They can crunch the numbers with metrics such as time of day, newsletter adoption, related purchases, even weather.

The idea is that both e-commerce and high-street retail stores can use the results to convert more customers, and predict their future behaviour. Wirecard believes the service can increase sales by double-digit percentages.

    Retailers can use the web dashboard to analyse payment data in combination with other data sources. They can crunch the numbers with metrics such as time of day, newsletter adoption, related purchases, even weather.

Jörn Leogrande, EVP of mobile services at Wirecard, says: “At present payment data just shows a conversion. It’s at the end of the value chain. But we think it can become more valuable by revealing patterns and anomolies that can enhance consumer marketing.

“We can see where customers are coming from, when they buy, where they buy other stuff, when they churn, what they are likely to buy next. These are interesting insights… because it’s more cost effective to stop people churning than to address new customers.”

Markus Braun, CEO of Wirecard, believes the ePOS Suite is the first step towards large scale digital transformation in the retail sector. He says: “Over the next few years, data analyses using artificial intelligence and machine learning will play an increasingly important role in their business area.

“Based on our analyses, we can reduce risks and increase the chances of success for our partners. This means that all parties involved can gain a significant competitive advantage, which is why the omnichannel ePOS suite marks a decisive step for the future of payments.”

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