Big Data/Analytics

How Barclays is using customer’s data to maximise revenue

Analytics Amy-jo Crowley

16:08, August 15 2014

Analytics

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Barclaycard's contactless payment wristband to integrate with CRM system.

Barclays is looking to use data generated from its bPay contactless payments wristband, which it claims will improve customer service and increase revenues.

The bank unveiled a partnership with Green 4 Solutions, a customer relaionship management firm, that would allow businesses to collect data about customers to provide insight into their behaviour.

The deal comes as Barclaycard trials its bPay technology at several major outdoor events this summer, where they can be used to gain entry and buy food and drink.

Mike Saunders, MD for Digital Consumer Payments at Barclaycard, said: "We can help sports clubs access new data sources to gain valuable insights into their customers' behaviour by providing an integrated payment and ticketing solution. This will help venues looking to understand their customers better, grow loyalty and maximise revenues through a joined-up approach to technology."

The bank said it is now in talks with other partners about allowing customers to participate in "experimental activities".

Saunders added: "Wearable payment devices are becoming increasingly popular, as they're a fast, secure and easy way to pay. Consumers tell us they want more than one function from their wearables; payment capability is just one ingredient.

"Consumers tell us they want more than one function from their wearables; payment capability is just one ingredient, there are a wide range of potential applications - access, loyalty, branding, affiliation and recognition."



Source: Company Press Release

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