MasterCard, IBM to offer big data analytics to smaller merchants

MASTERCARD and IBM on Wednesday said they will partner to offer smaller merchants with big data analytics.

The real-time market insights will focus on data around revenue, market share, customer demographics and competitors.

MasterCard's latest research showed more than 70 per cent of smaller businesses in Asia-Pacific expect higher business costs in 2016.

"There is an increasing wealth of data today that merchants can leverage to better understand their market and consumers. However, smaller merchants often don't have the resources to maximise the insights," said Eric Schneider, senior vice-president, MasterCard Advisors, in a media statement.

Merchants who accept MasterCard will get access to the service from mid-2016. An additional fee will be levied onto businesses for this.