Visa has joined forces with global analytics solutions provider Analytic Partners in a move to modernise commercial analytics for merchants and brands.
Through the multi-year deal, both parties aim to tackle key commercial challenges faced by merchants and brands. The collaboration will focus on enhancing return on advertising investments through advanced artificial intelligence (AI)-driven data analytics.
Analytic Partners CEO Nancy Smith said: “Commercial Analytics helps merchants and brands understand which consumer and commercial levers to pull, so they can drive more actionable opportunities for growth. This can ultimately improve their ability to deepen customer loyalty and attract new customers.”
The partnership seeks to leverage Visa’s vast network of merchant relationships and consumer spending data alongside Analytic Partners’ commercial decisioning platform. This combination is expected to provide merchants and brands around the globe with robust marketing spend optimisation analytics.
Initially, the partnership will focus on the US, with plans to expand globally in the future.
As part of the agreement, the digital payments major and Analytic Partners have made exclusivity commitments regarding marketing spend optimisation services and offerings for merchants and brands.
Additionally, the two companies plan to collaborate on developing new analytics solutions to help businesses convert insights into measurable business growth.
Visa merchant sales and acquiring global head Jeni Mundy said: “The volume of data available to merchants can be overwhelming, and if they don’t get it just right, it’s a missed opportunity for growth.
“Bringing together our scale and insights with Analytic Partners’ deep expertise in Commercial Analytics, we’ll enable our clients to achieve greater success in their lines of business.”
Last month, Visa agreed to acquire Featurespace, a developer of real-time AI payment protection technology that prevents payment fraud and financial crime risks.
The proposed acquisition is expected to complement and strengthen Visa’s portfolio of fraud detection and risk-scoring solutions used by clients to grow and protect their businesses.
