Backed by data, this is how Razer Merchant Services excels payment with data science

The lack of data skills in payment could bring a lot of chaos to payment. With more than 60% of the resources with engineering background, Razer Merchant Services has centralized data science in decision-making and problem-solving.

In today’s world, when business does not work closely with data science, some data may be redundant and problems will take longer time to be solved. Data science helps to identify crucial issues immediately.

On the other hand, Malaysia’s first online-to-offline payment channel, Razer Cash also broke its daily processing volume to nearly 15mil processing on the 24-hours sale alone. The payment channel enables customers to shop online and pay at more than 2,200 7-Eleven outlets.

At Razer Merchant Services, data science does not work separately with other business operations. The close links between data science has brought better solutions to the company, merchants and customers.

How Razer Merchant Services data scientists help to solve issues?

Our data scientists are data-driven problem solver. In addition to the advanced technology, our data scientists and engineers often work hands in hands to deliver good solutions and results.

1. Visualize and communicate with data
With good visualisation and identification skills, issues were able to be solved quickly and avoid delays. The example of data tabulation is as below (event on chronicle or timeline sequence):

Combination of all parties distribution, doesn’t it look like a genetic analysis?

Histogram, another viewpoint based on event counts and to observe its long-tail effect

Pareto chart used to demonstrate on Razer cash payment lead time distribution:-

When different patents are present in the data, our scientists are able to spot the anomalies and deliver the right message to our engineers to take action.

2. Solve issues more efficiently
When data is incorporated into problem-solving process, there are lesser chance for the data scientist to divert their attention from the relevant information. This is very important, especially when it comes to solving high-level problems.

3. Fast optimization and adjustment
At Razer Merchant Services, our payment optimization is done continuously until we achieve the desirable response rate or speed. Data science skill is essential to be implemented into the process as we improvise our payment flow and patterns.

Data science does not only focus on looking into the data, but also employing the data into the operation and it is how we build the practice of working to resolve issues immediately.