A new joint LedgerPay-Dunnhumby service is designed to help brick-and-mortar merchants encourage repeat sales by capitalizing on past purchases at the point of sale (POS).
It combines a payment processing platform with tokenization to provide secure and actionable customer data derived from real-time, non-cash POS transaction data.
Brick-and-mortar retailers that lack the necessary certifications in place to securely handle cardholder and other payment data often fail to leverage payment data, instead choosing to implement loyalty programs with gaps in transaction data.
LedgerPay's payment tokenization solution instead stitches together customer and purchase history to provide real-time visibility into what consumers are buying today in order to forecast what they might want to buy in the future.
Dunnhumby’s data science platform then analyzes current and historic customer behavior so retailers can personalize offers and messages to individual buyers.
Many people going into stores will participate in what’s termed revenge shopping — a phenomenon in which consumers on a hiatus from shopping in physical stores last year plan to make up for it this year.