Card App provides unprecedented visibility into purchases with enriched transaction information and insights to spend smarter. When customers understand their spending, they have higher engagement and fewer service calls and disputes.
Transaction Enrichment cleans up transaction and merchant data, allowing customers to more easily recognize their purchases, including cleaned up merchant names, logos, and locations on a map. It also allows them to contact the merchant directly within the app, resulting in fewer service calls, disputes and chargebacks.
Nearly half of all chargebacks and a third of customer service calls are made by cardholders that don’t recognize a transaction.
Providing easy access to insights on customer spending helps them stay informed and feel in control – and positions you as a trusted and innovative financial partner. Combined with real-time alerts, this gives customers powerful feedback and awareness of their spending.
90% of customers are interested in a mobile application that gives them real-time spending feedback.
Allow customers to keep track of where their card number is being stored. Card App identifies monthly subscriptions, as well as card-on-file merchants such as online marketplaces or ridesharing companies. Offering a single place for all of this information means customers are more likely to choose your card first for their card-on-file and recurring charges.
The average American household spends $237.33 per month across 21 recurring categories, including new categories like streaming TV and meal subscriptions, as well as traditional categories like mobile service and internet.