The 3 V’s of Big Data in Payments: Volume, Variety & Velocity

 

bigdata

Client Satisfaction, Smarter & Efficient Services and  New Revenue Channels !

Join a top briefing by Jay Patani and learn from best-practice cases globally! Jay will present his 3-V’s strategy for payments: Volume, Variety & Velocity. A dynamic session with ample time to discuss your key questions and share your experience with international industry peers. Do you have already key questions for this topic? Please send them directly to: harry@smorenberg.nl and we will make sure this will be part of the presentation / discussion at GPS 2016!

 

Volume

What is driving the increase in data in the payments industry?

  • Disintermediation means vast volumes of transactions processed on centralised platforms.
  • The on-demand economy
  • More and more transactions being done online
  • Increasing ability to store transaction data (disk space costs have plummeted)
  • Increasing ability to process data (memory costs have plummeted)
  • Internet of Things

What is needed in big data infrastructure terms? Scalable storage eg. Hadoop and other technologies

 

Variety

  • Diversification of Payment Channels: Mobile, RFID on connected Devices, Contactless, Credit/Debit Cards, Cash…
  • Different kind of metadata… 360 view on customer: Transaction Data, Transaction GEO, Merchant Category, Web Click Stream, Unstructure Textual Data, Purchase channel, Social Media, Customer database, Customer complaints
  • What is needed in big data infrastructure terms? Easy integration of different types of data + ability to store and process unstructured, semi-structured and structured data.

 

Velocity:

  • Improve customer service by increasing processing speed of transactions, identifying fraud and preventing chargebacks

What is needed in big data infrastructure terms? A real time processing framework to provide actionable insights instantly.

 

 

  • GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit Don’t miss out our expert panel today. The webinar is starting in 1 hour, register now here https://t.co/av1MF7z0sBhttps://t.co/XjmnKW2Ssy 4 weeks ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit Jean-Michel Godeffroy is going to moderate CR Payment Webinar "A Spotlight on Retail CBDCs" tomorrow (June 10, 2020… https://t.co/gKqfPfC3oy 4 weeks ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit Henry Holden from @BIS_org will speak at CR Payment Webinar "A Spotlight on Retail CBDCs" on June 10, 2020, 14:00 C… https://t.co/xYfWy81PxH 4 weeks ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit Manisha Patel from @bankofengland will speak at CR Payment Webinar "A Spotlight on Retail CBDCs" on June 10, 2020,… https://t.co/AoNgYwBe6W 4 weeks ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit Peter Wierts from @DNB_NL will speak at CR Payment Webinar "A Spotlight on Retail CBDCs" on June 10, 2020, 14:00 CE… https://t.co/9vZacQyp2H 5 weeks ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit Christian Pfister from Banque de France will speak at CR Payment Webinar "A Spotlight on Retail CBDCs" on June 10,… https://t.co/Fm2JYcxiQB 5 weeks ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit Join here https://t.co/7eZzC2FPy5 and learn from key Central Banks and International Financial Experts the most rec… https://t.co/fyJIxzs3H5 5 weeks ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit Join @CurrencyResearc and our expert panelists in 1 hour for a look at the current state of the #payments industry… https://t.co/6m0kdALgFT 9 weeks ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit Speaker Spotlight - CR Global Payment Summit Webinar Series on 6th May 2020, 14.00-15.00 CEST Register to hear him… https://t.co/uVpK6z2Etj 9 weeks ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit Speaker Spotlight - CR Global Payment Summit Webinar Series on 6th May 2020, 14.00-15.00 CEST Register to hear her… https://t.co/rWwvsMTZGT 9 weeks ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit Speaker Spotlight - CR Global Payment Summit Webinar Series on 6th May 2020, 14.00-15.00 CEST Register to hear her… https://t.co/l8abY4gfEr 9 weeks ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit Speaker Spotlight - CR Global Payment Summit Webinar Series on 6th May 2020, 14.00-15.00 CEST Register to hear him… https://t.co/fiG0awrFjk 9 weeks ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit Speaker Spotlight - CR Global Payment Summit Webinar Series on 6th May 2020, 14.00-15.00 CEST Register to hear her… https://t.co/RPnhskCGEf 10 weeks ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit What is the current state of the #payments industry's adoption of #PSD2 and #RTS introduced by the EC? Join… https://t.co/oCOPtYwpkj 10 weeks ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit #europepaysummit are proud to unveil our Draft Programme, including a fantastic line-up from central banks and regu… https://t.co/uVjJdlnE72 22 weeks ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit It was our honour to partner with Scholars of Sustenance (SOS) at #asiapaysummit in Bali. Any unused food was rescu… https://t.co/XLg4GFqf8b 1 month ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit RT @WomeninPayments: #WomeninPayments CEO @duncankristy is speaking tomorrow at the #Asia @GlobalPaySummit in Bali on how Digital Financial… 1 month ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit RT @HPS_worldwide: Our first day at Asia Global Payment Summit 🇮🇩was a real success with a lot of interactions! Didn't have time to meet o… 1 month ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit Congrats to the winners of our mobile app game challenge during The Africa Global Payment Summit! @nataliemat7 and… https://t.co/215Zaz23OM 1 month ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit RT @PPRO_Payments: #meetppro @GlobalPaySummit Asia in Bali next week at the Sofitel Bali Nusa Dua Beach Resort! Visit the panel about Alter… 1 month ago
  • Also interesting
    Asia Global Payment Summit Receives Certification of Appreciation from Scholars of Sustenance
    Written on 23 October '19 by
    READ MORE
    Alternative Payments in eCommerce Markets
    Written on 3 October '19 by
    READ MORE
    War of the Wallets
    Written on 3 October '19 by
    READ MORE
  • Speakers 2019