Solutions

Merchant Payment Cleansing

Customize OLB Tools with User Friendly Transaction Descriptions

Problem to be Solved:

Often the transaction descriptions that you receive from the credit card and debit card processing systems are very cryptic, cluttered and simply difficult to translate and decipher. Presenting uncleansed descriptions to customers can result in a poor customer experiences, such as unnecessary dispute requests.

How Segmint Data Adds Value:

Leveraging Segmint’s extensive set of merchant name variants and transaction cleansing algorithms, Segmint provides user friendly transaction descriptions and up to two levels of categorization that helps your customer remember if that purchase at Pirate’s Cove was a restaurant or the miniature golf outing on their vacation trip.

To access a friendly transaction description, simply submit a transaction to the following endpoint to receive a simple, clear description and up to levels of classification.

Endpoint: /v2/partners/{partnerId}/merchants/cleanse-transaction

Feed Data Modeling with Enriched Transaction Data

Problem to be Solved:

Data modelers need access to a full universe of customer insights to build models that accurately predict customer behaviors. Product data provides a sliver of the full customer story and transaction data takes significant resources to cleanse and normalize to make it usable.

How Segmint Data Adds Value:

Leveraging Segmint’s extensive transaction analytics toolkit, Segmint enriches transaction data providing consumer-friendly merchant brand names and two levels of merchant categories - a top-level and a detailed category. This type of normalized data can help a FI’s data modeler predict if fuel and discount retail spend is predictive of CC customer retention or continued spend with the FI’s credit card.

To request payment cleansing at the transaction level, simply submit a transaction to the following endpoint to receive a simple, clear description and two levels of classification.

Endpoint: /v2/partners/{partnerId}/merchants/cleanse-transaction