Zooz Launches Insights, a Robust Data Analysis Tool for Customer Transactions

Zooz’s latest offering is designed to equip retailers with relevant, actionable information about business transactions and customer behavior.

The payments solution company uses transaction data collected from its platform to optimize the buying experience across multiple channels. Insights can also help companies expand internationally by providing valuable connections to local financial institutions.

Information gathered from various organizations and channels are easily accessible through a unified portal.

“In order to differentiate themselves in today’s market, retailers must be able to access, understand and leverage the hidden data contained in their customer interactions,” said Oren Levy, CEO and co-founder of Zooz.

“The actionable intelligence we provide through Insights enables retailers to maximize their business performance and optimize each customer journey.”

In addition to the release of Insights, Zooz conducted a customer-derived survey that shows the capabilities of the new payments tool.

When it comes to fraud, the results of the study indicates that Croatia, followed by the Philippines and Thailand, are the top three countries with the highest fraud risk score. While Canada, Australia and Italy rank the lowest in the category.

For declined transactions, CVV errors account for 3.5 percent of such occurrences. China, Australia, and Japan are the countries most likely to reject U.S.-generated cross-border transactions.

In Brazil, nearly half (45 percent) of local cross-border transactions are turned down due to merchants not honoring the payment method used. Compared to China, the country boasts a higher transaction approval rate by seven percent.

“Using data strategically brings out that ultimate competitive edge and improves profit margins,” mentioned Andrei Charniauski, Head of Europe at IDC Financial Insights.

“While most enterprises have access to their transactional data, few have efficient capabilities to analyze it and – most importantly – make instant operational changes based on insights.”