Presented by Wirecard

Payments. It’s a largely invisible component of any business, but it is arguably the most important. Moving money back and forth between a business and its vendors, employees, and customers scaffolds the whole operation. And it’s an opportunity to provide integrated solutions and strengthen companies during their digital transformation.

It also means we get to play in a dynamic space that includes continuous change in technology and regulation — not an easy task to stay on top of. With the increasing volume and diversity of payment methods in live commerce, ecommerce and mobile commerce, the complexity has only increased. And so has the potential to bring the future of retail to life by tapping into the data produced by all those transactions.

Anytime you make a payment — at the deli, online — it generates a ton of data. At the payments level, it includes purchase amount, location, date, and time. Because it’s pretty mundane information, until recently almost none of it was used — it was simply exhaust. But as we all know, information has become extremely valuable, and we’re turning our wheels to come up with new ways to use it.

Because this data is not terrifically useful on its own, a merchant will get a lot more bang for their buck when they combine payment data with more granular store-level data, which includes information about individual consumer profiles, spending patterns, and how inventory moves.

The raw data from a single POS terminal or even a single merchant’s ecommerce site isn’t big data, either — it’s just a lot of data. A single…