PayStats prepares to make the leap online

PayStats prepares to make the leap online
PayStats prepares to make the leap online


Leading companies in their sectors such as Geoblink and Idealista Data explain how the API PayStats, which will soon combine internet purchases and cash withdrawals ATMS, adds value for its businesses and customers.

PayStats, one of the solutions offered by BBVA API Market for the Spanish market, is preparing some developments for its next update. “We will soon be implementing data about internet purchases through the online gateways, and also cash withdrawals at ATMS, to provide all of this in the same API”, explains Alberto González, Product Owner at BBVA API_Market and the head of PayStats.

PayStats adds up and anonymizes all transactions made with BBVA cards at any POS, or any card at BBVA POSs. The next step is to incorporate the online universe, and that’s already in the pipeline: “We have already prepared the technical developments and now, we’re analyzing how to provide it in a way that will maximize value for our customers”, adds González.

This new developement combines with a tool which is already powerful in itself. “Our customers have been obtaining greater value since we’ve been using BBVA PayStats” explains Miguel Ángel Fajardo, Chief Technology Officer at Geoblink, the leading consultant at Location Intelligence. David Rey, Chief Data Officer at Idealista Data, agrees: “We’ve been using since it was launched in beta phase over three years ago”.

Gonzalez, Fajardo and Rey took part on the panel entitled ‘Increasing knowledge for decision-making through data API‘ at the Smart Data Spain Summit 2018, held in June in the Wanda Metropolitano stadium in Madrid.

Our customers have been obtaining greater value since we’ve been using BBVA PayStats“. ― M. A. Fajardo, CTO of Geoblink.

In PayStats, just like in football, the physical field is the ground where the strategy unfolds: “We display the information by census section, by zipcode and by areas of 500 x 500 meters. All over Spain. That way we can obtain data like valley and peak hours and days, and up to 79 different categories of data”, elaborates González.

Miguel Ángel Fajardo, CTO of Geoblink, explains the value that PayStats adds for its Location Intelligence products

So then, can a small- or medium-sized retailer compete with the alignment of a ‘first division’ surface? What seemed impossible before is now a reality, explains Fajardo: “Traditional market research companies were sending employees to shopping streets to count the number of people going in and out of stores and make a note of the brands on the bags. This was very expensive, and something only large retail businesses could afford to do. Today, thanks to these technologies, we can provide these same data but in much greater detail –and above all, much more reliably and at a much lower cost”.

PayStats allows entrepreneurs to locate the best area to set up their store, while investors can find out the best type of business to open in that location, or which time bands require reinforcement by sales or customer service staff. “We build statistical, socio-economic data that we couldn’t develop without the help of BBVA PayStats”, says Fajardo, whose customers are specifically looking for these types of answers.

Once they know the type of customer, entrepreneurs can use PayStats to decide the best area to open their store.

“What the data say is really important”, says González, “because wanting is not the same as knowing”. How these data are interpreted is also key. Depending on who does it and for what purpose, it allows users to define a value proposition, a possible business or enterprise, or assess its viability and even its profitability. “Our solution contributes strategy to all kinds of businesses. From small customers with just a few stores to large retail businesses such as Coca-Cola or Eroski. They all have the physical factor in common”, says Fajardo.

Daniel Rey, CDO of Idealista Data, describes what PayStats has brought to its market intelligence products

Looking forward, Rey, from Idealista Data, analyzes the value this kind of data has for the real estate sector: “We want to become a company that manages information about homes. Not just about the homes that are bought and sold, but the homes that are active throughout the time this asset is being used. Any information that helps us know who’s behind the door of that home is of value to us. The fact that PayStats is going to include online transactions will also help us obtain a 360º view of the consumer”.

If you want to know more about BBVA´s financial APIs, visit this website

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