Sydney, June 24, 2020 – IR, the leading global provider of experience management solutions for critical IT infrastructure, payments and communications ecosystems, has today launched Payments Analytics, a new innovative cloud-based payments assurance solution and first product in the IR Transact solution suite.
Payments Analytics enables retailers, merchants, and payment processors to uncover actionable insights and intelligence in real time.
The power lies in the next-generation Prognosis cloud platform, providing the capability to process and analyze data from thousands of transactions in seconds. This is in contrast to other solutions that rely on batch processing methodology, taking several minutes to gather and deliver data. And where time is money, literally, every second counts.
“Payments Analytics is a monumental step forward in our data-driven intelligence strategy. It will allow our customers to benchmark performance against their industry, identify patterns and leverage data in new and meaningful ways across their organization,” said Kevin Ryder, Chief Marketing & Product Officer, IR.
Purpose-built for card payments, Payments Analytics ability to easily interact with large amounts of payments data, allows organizations to unlock insights to drive more informed, profitable business decisions. With a 40 percent growth in contactless transactions globally in the first quarter of 2020*, gaining insights into these trends has never been more critical.
Ryder added, “In the modern payments world, consumer expectations are high. Retailers, merchants, and processors have to navigate complexity to achieve success and deliver an elevated end-customer experience. Payments Analytics helps simplify that complexity, by offering a level of insight not seen before.”
To find out more about Payments Analytics, and how it could help your organization, head over to the solution page.
*Growth calculated as the percentage increase in contactless transactions globally, comparing first quarter 2020 to first quarter 2019. Source: Mastercard Data Warehouse