Payment Enrichment Services Transaction data reinterpreted BETA Generate added value from transaction data while bringing transparency to your customers' personal and corporate finances. With Payment Enrichment Services from SIX, you'll transform raw data into useful information and create unique user experiences based on new, data-driven offers. Contact us How it works Works with all Swiss payment methods and purposes, not just cards Excellent accuracy rate of over 90% when categorizing transactions Reliable and clean assignment of merchant names to transactions Made for everyone who wants to get more out of their transaction dataPayment Enrichment Services are aimed at all companies in Switzerland that work with payment data. Check out our showcase with Kaspar&. How it works Two core services that you can build upon. Transaction Categorization Benefit from our intelligent categorization model, which is significantly tailored to the Swiss payment market. High accuracy in categorizing transactions and assigning merchant names Takes into account all payment methods commonly used in Switzerland: Bank transfers, cards, QR bills, eBill, TWINT, etc. Extensive categories that can be tailored to your purposes: Shopping, Transport, Salary, Tax, Pension (e.g. 3rd pillar) etc. «Pretty Names» Forget cryptic merchant names. With Pretty Names you give payment information in your app a worthy appearance while your customers profit from more transparency in their earnings and spendings. Uniform and clean display of merchant names without unnecessarily confusing information Reliable identification of both Swiss and international merchant names The ideal basis for additional value-added servicesExtend your apps with new services and features based on our transaction categorization: Display income and expenses more clearly Show category-related savings potential UX: display not only merchant names but also the corresponding logos and many more possibilities such as enriching transaction data with carbon emission values Showcase: Kaspar& The Swiss investment app integrated our Payment Enrichment Services as part of its latest update – in record time. THE INVESTMENT APP OF KASPAR& IN ITS NEW LOOK & FEEL INCLUDING TRANSACTION CATEGORIZATION AND PRETTY NAMES "Payment Enrichment Services by SIX allow us to seamlessly integrate payment categories into our app in a completely customized way. It's an offering we couldn't find anywhere else in the Swiss market in this form and quality." Jan-Philip Schade, CEO Kaspar& Do you want your app to look like this too? Upgrade now FAQsFour burning questions about Payment Enrichment Services. Why do you need SIX's categorization model when you can simply use Merchant Category Codes (MCCs)? We have identified three main weaknesses in Merchant Category Codes (MCCs): Incorrect: Wrong categorization Inaccurate: No categorization at all or too broad definitions of categories Inconsistent: Same merchant names are assigned to several different categories at the same time In our model, we have overcome this error-prone categorization (to a high degree). What categories does SIX's model include? The standard category model is based on common international examples and distinguishes three main categories with varying granularity and up to 75 subcategories. In particular, our model includes a comprehensive range of Switzerland-specific categories (e.g. pension 3a or taxes). If required, the category model can be extended individually and for specific use cases. We are happy to show you what is possible. What transaction data can the model process? SIX has developed a generic model that can process data from all known payment types. In addition to classic incoming and outgoing payments in e-banking or mobile banking, this also includes debit or credit card payments, TWINT payments, eBill and QR invoices. Are there transaction formats that the model cannot categorize? Transactions that contain no or insufficient information cannot be categorized. Examples of this are missing intended uses, internal reference numbers without reference to a company name or similar cases. Why are we doing this?Payment data is a valuable and highly underestimated source of information that - correctly interpreted - opens the doors to innovative value-added services. As a key infrastructure provider for business and private payment transactions in Switzerland (e.g. new debit cards, eBill or Open Banking), SIX has leading knowledge and proven experience in handling transaction data of all kinds. Building on this foundation, we are now going one step further by enabling innovative companies to generate compelling added value from their customers' transaction data. To do this, we are building the data models of the future, which are inherently tailored to specific needs of the Swiss market. Find out more about this service. Contact us.