Merchant Payment Cleansing
Merchant identifications and classifications can be retrieved by Posting transaction details to the Merchant endpoint. Segmint’s transaction cleansing service ingests this data and transforms the complex, cluttered description into a simple, easily understood merchant name. Additionally the solution provides two levels of merchant classification that provides context to the data tag so that you know if Pirate’s Cove is a Miniature Golf establishment or a Themed Restaurant.
This stand-alone solution requires no other data sources to be provided by the institution. However, to help train our algorithms for your unique customer data, Segmint requests a set of seed transaction data. For optimal results, we prefer this historical file to contain 6 months of data.