BBVA API Market
By entering a zip code or 500×500 meter tile (latitude and longitude), PayStats offers anonymized and aggregated statistical data from millions of transactions performed with BBVA cards and any other cards in BBVA POS terminals, creating a virtual map comprised of consumers’ habits, demographics and origins. With this information, updated on a weekly basis, you will be able to gain knowledge and value for your business.
To learn about the origin of PayStats we have to go back five years, when BBVA launched two dataphones on aggregate card transaction data: in 2013 in Madrid and Barcelona and in 2014 in the City of Mexico, both a huge success.
Later, BBVA Data & Analytics, the BBVA group company that manages this data, launched PayStats and made it accessible to BBVA API_Markett, the BBVA portal that brings together various consumables via API by third companies.
The fourth version, updated and enhanced based on the feedback received from customers, offers 4 services (basic statistics, distribution of categories, consumer patterns and distribution of origin) at the tile level and five services (basic statistics, distribution of categories, consumer patterns, distribution of origin and distribution of destination) at the zip code level.
There is also information classified into 18 categories and 77 subcategories, from spending on hotels to spending on veterinary services. But not only that: the main potential of this data lies in trying to help the business with decision making. The following are some examples of how to successfully apply the potential of PayStats:
Also, at the end of 2017, again based on customer feedback, we decided to provide this information in aggregate and anonymous format, in .csv files which can be downloaded through a new service called PayStats Downloads. This gives us the gross data and even allows us to include it in GIS viewers which many large and medium-sized companies use for their data-based decision making. With this type of data, we can even provide a census section as a further level of detail.
Startups and existing companies in the process of digitization need a new set of digital tools to help them transform their businesses and get more in tune with their customers' needs. If possible, they should develop frictionless systems that do not create barriers to entry for the business, as occurs with some banking solutions.
A good cash flow management ultimately leads to more informed and wise financial decision making. Keeping operations up-to-date, knowing the cash flows well and discovering where there may be inconsistencies are just some of the processes that must be carried out on a daily basis to achieve this.
Taking a customer through the entire buying process until it is formalized is an arduous journey and one that faces the constant possibility of the customer leaving. However, there are ways to make the buying decision happen if you are given facilities such as agile, secure financing.