Terapeak Develops Analytic Tool for PayPal Merchants
March 15, 2011
Terapeak, a Canadian e-commerce analytics company, unveiled an analytics tool for merchants that accept PayPal at the online payment company’s recent Innovate 2010 conference. On PayPal’s blog, Terapeak executive Greg Lewis explained how the service grew out of a similar product it had built for PayPayl’s parent eBay. “Since 2004 our Terapeak for eBay tool has used PayPal to gather new and recurring subscription payments,” Lewis said. “As our sales increased, so did the amount of data we were collecting about our customers. Demographics like country, state, and even gender, along with sales data such as subscriptions, sales trends, seasonality and more are all derived from payments data. Being a data aggregation and analytics company, we built a PayPal-based product that would filter and visualize this information without ever setting foot (so-to-speak) in Excel. Then we thought, ‘if we use this for our reporting, any company or individual using PayPal to receive payments could also.’ Terapeak for PayPal was born.” Lewis said Terapeak found that PayPal payments data presents a way to gain insight into strategic and actionable data like most-profitable buyers, buyer location and other metrics that provide clarity into who customers are and what they prefer to buy.