Provide value and insights to your customers with transaction data enrichment
The Merchant Reconciliation System API (MRS) turns confusion into clarity by enriching ambiguous transaction information with accurate data points, creating compelling experiences that generate trust. For a given transaction, MRS can provide: clean merchant name, logo, category, website, address, contact information and much more
#Whitepaper: 'The Significance of Location Intelligence and Transaction Enrichment for Financial Services'
In this paper we outline consumer demands for increasingly digital and transparent banking services and how data enrichment plays a key role in increasing user confidence and satisfaction.
Delight your customers with easy to understand transaction information
The Snowdrop Merchant Reconciliation System, helps to make “messy” transaction data clear and easily understood. Our solution is designed to help Fintechs, Digital Banks and Traditional Banks to both provide a better user experience and to save on customer service costs.
Thinking on the consumer, it results in a better user experience from reduced anxiety around transactions. It also increases engagement with the customer application or website.
Merchant Reconciliation System ensue cost savings from reduced contacts with the customer service function as well as reduced chargebacks from unrecognised transactions. For banks with physical branches, reducing the number of customers visiting the branches has benefits in terms of both operating costs and wait times for customers.
See it in action
Hugo chose to work with Snowdrop as a transaction enrichment provider to deliver an engaging user experience that provides convenience and clarity around card spending. Snowdrop’s API, Merchant Reconciliation System (MRS), has been easily integrated into Hugo’s digital platform.
Wirex has launched a range of location-enriched services to show their users where payments take place. In partnership with Snowdrop Solutions, the service removes the confusing information often found in a card transaction and replaces it with the merchant name, location and, where appropriate, associated brand.
Rebellion Pay has taken a step forward to improve users’ purchase control by being the first in Spain to offer Google Maps “Location Intelligence”. Thanks to this functionality, the user will see a reduction in the uncertainty of transactions, by knowing all the data of the merchant, location, date and time and by providing a unique visual experience of their operations.
Know more about about how MRS can transform your business
If you want to find out how MRS can fit with your business, leave us a message and our specialists will be in touch within 24 hours.