By Maximilian Clarke
Visa Europe has today taken a minority stake in leading customer insight group, Beyond Analysis. The investment will strengthen Visa Europe’s data analytics capabilities and forms part of its strategy to deliver increased value for consumers, retailers and banks through electronic payments.
Over £1 in every £4 spent in the UK 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. A key feature of Visa Europe’s data analytics is that all cardholder information is anonymous and does not include personal or private details.
Mariano Dima, Chief Marketing Officer, Visa Europe, will join the Beyond Analysis Board as part of the investment.
Beyond Analysis is an international consumer insight and strategy business. Following this investment, it will deepen its work with Visa Europe to help manage loyalty programmes and provide advanced analytics and insight based on the spending patterns captured in card transactions processed by Visa Europe. This insight can help retailers and banks to engage with new and existing customers, providing access to a comprehensive source of information based on Visa card transaction history. This will enable banks and retailers to better segment and target their marketing efforts and drive brand loyalty, purchase behaviour and traffic.
The investment by Visa Europe reflects Beyond Analysis’ strategic goal to help more organisations undertake successful multi-channel engagement programmes.
“This investment in Beyond Analysis reflects Visa Europe’s commitment to redefining its relationship with retailers," said Peter Ayliffe, President and CEO of Visa Europe, "helping them to build stronger relationships with customers and secure increased market share. 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.”
Paul Alexander, CEO of Beyond Analysis added: “We are delighted to be joining forces with our long term partner Visa Europe to deliver ground-breaking advances in data analytics, resulting in enhanced customer engagement opportunities for retailers. We bring to the table not just our expertise in transforming a massive pool of data into business-ready patterns, trends and synergies, but the ability to turn information into insight, intelligence and creative campaigns that drive competitive advantage and customer-centric business decisions.”
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