Toronto-based secure payment solutions vendor Tender Retail is launching a reporting component for its new centralized platform for payment transactions that promises to bring big data to small and medium-sized retailers.
Tender Retail, which was acquired by Montreal’s Acceo Solutions (formerly GFI Business Solutions) last year, will launch the new solution at a payment industry conference next month in Las Vegas. The vendor said though that its new centralized solution, which complements its Merchant Connect Multi (MCM) decentralized point-of-sale solution, is already used at over 90 000 points of sale in Canada and the U.S.
In addition to reporting functions for merchant payment transactions, Tender Retail said the new solution also integrates business intelligence and operational intelligence tools and enables continuous monitoring of software and equipment configuration.
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“It thus makes it possible both to analyze major trends in order to guide strategic decisions concerning e-payment, and to carry out detailed analysis of specific transactions,” said the company, in a statement. “Tender Retail will be focusing on cutting-edge technology, including big data, which will make it possible to save data for merchants involved in tens of millions of e-payments a year.”
By making more data on transactions available to merchants, and in a digestible way, they will be better able to analyze customer behavior, adjust to market demands, and identify opportunities for upsell and additional sales opportunities with high-value customers.