BankTech

GlobalCollect Introduces Elevate Data Services for Online Payments and Chargebacks

On 31st March 2014, one of the largest payment service providers – GlobalCollect - announced Elevate Data Services, a comprehensive Business Intelligence solution designed specifically for online payments and chargebacks. According to the company, Elevate was conceived in response to the unique need for insights expressed by GlobalCollect’s clients, and developed in close cooperation with GlobalCollect’s Customer Advisory Board (GCAB). With Elevate, GlobalCollect merchants can now apply visualization and advanced data analytics to their unstructured payments data, transforming it into a rich source of strategic insights that help optimize their online business and drive sales.

As global online commerce continues to expand and emerging economies in Asia, Latin America and Africa increasingly join the global online marketplace, international eCommerce companies are booming. However, with each additional market comes additional complexity, from local payment preferences and currencies, to new fraud environments. In order to effectively manage this complexity and take maximum advantage of opportunities for growth, merchants need to cut through the clutter of raw payment data and find the patterns, trends and issues that need their attention most. With Elevate, they now have a comprehensive and sophisticated tool that organizes unstructured data into targeted dashboards and lets them interact with the data in order to find exactly those insights that will help them to make the decisions that accelerate the growth of their business.

This gives you an overview of Elevate Data Services:

  • Elevate combines GlobalCollect’s payments knowledge with strategic guidance from leading international eCommerce companies and the data visualization platform by Tableau. 
  • It creates a payments intelligence solution consisting of highly interactive management dashboards that answer real business questions. 
  • These dashboards are centered on 5 key performance areas and reveal the types of payments performance insights that enable merchants to quickly and easily identify trends and patterns, opportunities for optimization, as well as issues that need immediate attention. 

The key performance areas in Elevate:

  • Your Performance: Presents a holistic view of payments performance across the 6 KPI’s that merchants indicate are most relevant to them;
  • Commercial Insights: Provides insight into consumer payment behavior;
  • Authorization Rates: Reveals key authorization trends such as card performance and rejection reasons;
  • Payment Funnel: Provides an overview of the payment stages a transaction goes through;
  • Chargeback Insights: Helps prevent fraud through chargeback analysis;

Elevate is browser-based, making it time, place and device agnostic, and was designed to support multiple functions within international eCommerce organizations. For senior management, Elevate provides access to comprehensive reports on global payments performance and trends, that help guide strategic decisions and grow revenue. Payment managers benefit from the granular insights they need to identify opportunities and optimize conversions on a day-to-day basis. Fraud managers can analyze chargeback data for unexpected patterns, and take swift and targeted measures to counter fraud and lower costs.

“Our customers rely on us to not only process their payments, but to help them realize their full commercial potential through conversion optimization, international expansion, and fraud reduction. When it comes to success in international online commerce, knowledge is power,” said GlobalCollect CEO, Thomas P. Staudt. “With Elevate, we give our merchants the knowledge they need to keep improving and optimizing their business and reach that maximum potential.”

This video gives you an overview of GlobalCollect’s platform:

Recently, I had written an article about the Payments Industry and Massively Multiplayer Online Role Playing Games (MMORPG). This included some interesting data and trends gathered by GlobalCollect. The MMORPG community has grown into a formidable force and will continue in that manner according to their report. GlobalCollect had published the report on the MMORPG market in July 2013, highlighting payments and trends.The  research is based on GlobalCollect’s extensive gaming transaction data. It also includes data from Newzoo, an international gaming market research firm.  The data covers millions of transactions per quarter and represents more than 170 countries.

Chiraag Patel

Chiraag Patel is a Senior Reporting Analyst and the Editor of Bitcoin and Virtual Currency channels at Lets Talk Payments. He is an engineer with deep interest in MMORPG, Virtual Banking, Game Currency and Virtual Cash. Chiraag enjoys Reading& Blogging with focus on New Innovation, Technology & Startups in the Payments Space.

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