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Visa – Why data can be the key to your ecommerce success

Increased focus on transport and IoT puts Visa in great position as changes such as GDPR and PSD2 approach.

The way we pay for goods and services has changed for many people in recent years, as cash increasingly finds itself frozen out by card or digital payments.

Visa processes billions of transactions every year through its myriad of services, and at the recent Mobile World Congress, ITProPortal spoke to Mike Lemberger, European head of product & solution, about just how the company is helping spur on a new generation of payments.

The first challenge for many businesses, of course, is making sure that customers actually go through with their transaction, and whether online or on the high street, Lemberger explains that Visa is helping firms of all sizes.

“The value of a transaction…has forever been the cornershop or dry cleaner’s conundrum, around how much consumers are willing to pay for,” he says, highlighting how Visa’s push for contactless is helping transform businesses of all sizes.

But with the wealth of data being created by e-commerce, more and more insight can now be provided to businesses about their customers and how they shop, allowing for tailored retail experiences that should keep users coming back again and again.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.