FreedomPay announces real time availability of “Level 4“ data …
Additional transaction detail captured at the point-of-sale provides intelligent business information to drive real business objectives.
Radnor, PA, July 6, 2010 – FreedomPay, the US market leader of intelligent transaction management solutions, today announced that FreeWay™, the most powerful, flexible, scalable transaction and payment gateway available, now includes “Level 4” Data providing unparalleled visibility into the transactions that power global business. Level 4 Data goes beyond currently-available transaction data and provides intelligent business information to analyze the real business drivers behind every transaction.
Level 4 Data builds on the progression of the payments industry, which began with simple payment data (“Level 1″), escalated to merchant and tax information (“Level 2″) and then advanced to rudimentary item and shipping detail (“Level 3″). Level 4 Data now provides the detail that is the most critical to the real business drivers in an increasingly sophisticated and demanding business environment.
Level 4 Data includes specific details about the product sold, such as manufacturer, make, model, model year, part number, serial number, stock keeping unit (SKU), promotional or loyalty rewards, and other critical information. This detailed level of data allows companies to precisely identify the specific products, promotions, and loyalty programs that are driving sales increases; track service enhancements for preventative maintenance programs; analyze field service and repair efforts; plan for changes in inventory demand; and evaluate supply and demand chain analytics to the individual part number. The data can then be leveraged in planning efforts to focus on those initiatives and product lines that are fueling the most significant return on investment (ROI).
Sam Bellamy, Chief Operating Officer of FreedomPay says, “Level 4 Data from FreedomPay transforms a purchase from a simple payment transaction to intelligent business information that may be analyzed, measured, monitored and leveraged to increase sales, improve efficiencies, reduce costs and drive real ROI to the bottom line.”
Every time a business interacts with a customer, Level 4 Data is available. Now it can be captured and used as a strategic management tool through FreeWay™, a highly customizable gateway that seamlessly connects with other enterprise data sources, such as (Enterprise Resource Planning (ERP) systems, Dealer Management Systems (DMS), point-of-sale (POS) systems, vending and payment terminals. The Level 4 Data may be off-ramped to any number of proprietary or third-party rules-based processing systems for payment settlement, data warehousing, and business intelligence.
Bellamy concluded, “Never before has business had such a need to gain as much visibility as possible into the transaction details that dictate profitability. That’s the promise of Level 4 Data and the basis of our excitement in offering this advancement to businesses.”