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First Data launches information and analytics service

08 October 2010  |  4507 views  |  0 Source: First Data

First Data Corporation, a global leader in electronic commerce and payment processing, today announced the launch of First Data Information & Analytics Services for merchants.

Information & Analytics Services delivers analytics and insights based in part on First Data's proprietary SpendTrend tools to merchants and other businesses that need superior fact-based insights on consumer spending and payments.

First Data processes a significant portion of the U.S. consumer expenditures with $1.25 trillion in transaction dollar volume and more than 28 billion domestic merchant transactions in 2009. With a U.S. point-of-sale (POS) network spanning more than three million merchant locations, First Data draws comprehensive aggregated insights from its vast experience in the payments industry.

"In today's volatile economy, many businesses find it difficult to get a timely picture of changing consumer spending patterns," said Silvio Tavares, senior vice president and division manager of First Data Information & Analytics Services. "First Data has launched these services to help businesses better understand how card spending is trending and the underlying reasons for those changes. Armed with this powerful insight, our customers will have a distinct competitive advantage in the marketplace and be able to make smarter business decisions."

First Data launched its flagship SpendTrend tool with Black Friday 2009 results and will continue to deliver special editions during this year's holiday season. First Data also plans to introduce new analytics tools including SpendTrend eCommerce, SpendTrend Prepaid and SpendTrend Regional in early 2011.

"First Data's SpendTrend analysis has been an invaluable resource for our research efforts surrounding consumer spending trends during the holidays and throughout the year," said Robert Misasi, president and CEO, Mercator Advisory Group. "As a global leader in the payment processing, First Data is able to provide a holistic view of credit and debit transactions across all card brands and merchant verticals."

Information & Analytics Services for merchants is comprised of three product areas: First Data SpendTrend, First Data Advisors and First Data Reporting.

* First Data SpendTrend provides aggregated consumer spending trends to businesses with its suite of First Data SpendTrend analytics tools. Distributed on a monthly and bi-weekly basis, SpendTrend analysis of payment card data helps businesses with forecasting, sales performance benchmarking, regulating inventory levels and tactical deployment of promotions.
* First Data Advisors, available for charter engagements today, uses insight and unique intellectual property from First Data SpendTrend and its payments analytics capabilities to deliver customized market benchmarking and payments strategy consulting services for merchants. With unparalleled experience in the payments and financial services industry, First Data's advisors provide insights and predictions on consumer buying behavior, as well as recommendations and implications for business of all sizes. Studies will include the Merchant Payment Cost Study and Best Practices in Alternative Payments.
* First Data Reporting, which is anticipated to be available in early 2011, will include new reporting solutions for merchants enabling a sophisticated and comprehensive view of all payment streams. Offerings will include real-time intelligent querying on card based transactions and enhanced payment metrics dashboards. These services will also comprise innovative capabilities for mid-size and smaller merchants such as mobile transactions alerts and web-based reporting tools.

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