Paytm Payment Gateway launches ‘Payment Analytics’ to help SMEs make data-driven decisions
Paytm Payment Gateway has launched a first-of-its-kind service called ‘Payment Analytics’, a data analysis feature for online and offline merchants. The analytics will help business owners get deeper insights that will help them make technical improvements and define a targeted marketing strategy.
Digital payments and financial services company One97 Communications Limited, which owns the brand, has announced that its wholly-owned subsidiary Paytm Payments Services Limited, is enabling merchants with data-driven payment insights to help them understand their customers and their payment preferences, according to a release.
Paytm Payment Gateway has launched a first-of-its-kind service called ‘Payment Analytics’, a data analysis feature for online and offline merchants. This is available to all Paytm merchants at no extra cost.
Payment Analytics has been exclusively designed to provide ready-made reports about payment sources, payment flows, customer behaviour, user retention, payment success rates and reasons for payment failures. This will allow business owners to effectively analyse the transaction patterns and preferences of customers on their website and/or app.
The analytics will also help business owners get deeper insights that will help them make technical improvements and define a targeted marketing strategy.
It offers three services — payment source analytics, where businesses can get insights into performance of different payment sources with tips on how to reduce payment failures; customer analytics, through which businesses can understand their customers better with insights about their payment behaviours and payment flow analytics, where businesses can get insights into success rates and cross platform as well as cross device performance.
With these services, Paytm’s offline merchant partners can ascertain their Gross Merchandise Value (GMV) and even find out the total number of transactions on a day-to-day or monthly basis. Retail chain businesses can choose to capture GMV data of every physical store using Payment Analytics.
Praveen Sharma, CEO, Paytm Payments Services Limited, said,
“The launch of Payment Analytics is yet another industry-first move, that is aligned with our vision of helping merchant partners and entrepreneurs simplify their businesses, and understand their target audience to offer them the best of services. This will help business owners to also devise improved marketing strategies to scale up faster.”
Edited by Anju Narayanan