Although they are not a traditional retailer, they do have precious data in the form of lineitem level data from every purchase.
Credit card issuers typically only get to see the merchant and total amount of a purchase (pizza place, $200).
Retailers and marketplaces have a higher level of detail including each item and the amount ordered (6 beers * $15 each, 2 pizzas * $55 each) which they can use to inform their decisions and provide a better customer experience.
Mastercard and Visa already support sharing line item data in what is called Level 3 data. Nevertheless they do not support it through physical credit card terminals and in many cases online acquirers don’t transmit it to those networks.
In the spirit of YC’s and Plaid’s request for startups, is there an opportunity to:
- Connect merchants and issuers to share item level data ?
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Request for Startups: Connect merchants and issuers to share item level data.
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Every company is now becoming a fintech.
Rappi recently announced the launch of their credit card.
Although they are not a traditional retailer, they do have precious data in the form of line item level data from every purchase.
Credit card issuers typically only get to see the merchant and total amount of a purchase (pizza place, $200).
Retailers and marketplaces have a higher level of detail including each item and the amount ordered (6 beers * $15 each, 2 pizzas * $55 each) which they can use to inform their decisions and provide a better customer experience.
Mastercard and Visa already support sharing line item data in what is called Level 3 data. Nevertheless they do not support it through physical credit card terminals and in many cases online acquirers don’t transmit it to those networks.
In the spirit of YC’s and Plaid’s request for startups, is there an opportunity to:
- Connect merchants and issuers to share item level data ?