Wirex: Reduction of up to 50% in transaction query calls
Wirex is a worldwide digital payment platform and regulated institution that has forged new rules in the digital payments space. In 2015, Wirex introduced the world’s first crypto-enabled payment card, empowering over 5.5 million customers to seamlessly spend cryptocurrencies and traditional currencies in their real-life transactions.
Challenge
Enhance customers’ experience by integrating Transaction Enrichment services within its app
Wirex sought to enhance its customers’ experience by integrating location-enriched transaction services within its app. They aimed to eliminate the confusion often associated with card transactions and display clear transaction details, in over 150 digital and traditional currencies they offer.
Solution
Better ways to understand and analyse their financial behaviour
In April 2021, Wirex integrated Snowdrop’s Transaction Enrichment API. This partnership allowed Wirex to offer their customers location-enhanced data enrichment services within their app. Snowdrop’s MRS API enabled Wirex to show users detailed transaction information, such as merchant names, logos, addresses with map locations, and merchant categories, giving them a clear and comprehensive view. Moreover, Snowdrop’s technology facilitated the capture of unique spending insights, allowing Wirex to offer their customers better ways to understand and analyse their financial behaviour.
Success
Reduction of up to 50% in transaction query calls
Through their collaboration with Snowdrop and the successful integration of the MRS API, Wirex has been able to enhance their customers’ financial experience, provide valuable insights, and achieve impressive growth in their user base. With over 1.5 million customers registering between January 2021 and January 2023, and a global card transaction volume of nearly $340 million in 2021, Wirex continues to revolutionise the financial landscape.
“Partnering with Snowdrop will give our customers access to even more cutting-edge and convenient financial features that add value to their lives, whilst bridging the gap between the traditional and digital economies.”
Pavel Matveev
Ceo & Co-Founder