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Any retailer would struggle to operate without effective management information, reporting and intelligence on its consumers that allow it to make informed decisions. Whilst this requirement is commonly acknowledged and accepted, when it comes to card payment services retailers have traditionally been ‘left in the dark’ by High Street banks and larger payment service providers. At best data has been supplied in its rawest form requiring a considerable investment in analytical systems and expertise. Capturing payment data is not just applicable for traditional card holder present transactions; retailers who also operate an e-tail presence have struggled to combine payment transaction information in a way that presents a uniform view of multi-channel performance giving the ability to spot, monitor and respond to emerging trends.
There is a misconception by traditional acquiring banks that their role is simply to deliver the capability to take card payments, it isn’t. The requirements of the modern business have changed and it’s important the features surrounding the core capability to take card payments change as well. NetPay has addressed these challenges and has opened up a new, unique opportunity to retailers and e-tailers.
NetPay are a payment service provider specialising in intelligent card processing solutions. The business provides online and offline payment processing, payment terminal and merchant services to all types and sizes of retailer. With NetPay retailers and e-tailers can not only process card payments more cost effectively than High Street and acquiring banks but also get access to detailed reporting and intelligence on those transactions without having to replace existing EPOS, card terminals or e-commerce software.
For all physical locations even with a mixture of different manufacturers for payment terminals and an established online presence NetPay can provide central reporting through its ‘Revolution’ platform. This is achieved as the intelligence is captured at the banking level; it is not generated by EPOS devices or online transaction data. Revolution enables retailers and e-tailers to capture important intelligence including transaction details, average transaction values, best performing postcode regions and compare trading periods and locations. It’s not just a payment service; Revolution is a lot more intelligent than that.