Payment Data Enrichment
Mireia Tomàs

Financial Protection: Tools for Identifying Fraudulent Transactions

What is a fraudulent transaction? It involves the unauthorized use of an individual’s accounts or payment information. In an increasingly digital world where our finances are managed through mobile devices, crucial for financial institutions to keep this in mind; a fraudulent transaction means loss of funds and loss of trust.

In this article, we will focus on the importance of eradicating this problem if you have a financial product. There are tools that help to eradicate and detect potential fraud in advance, one of which is the enrichment of transaction data.

A Growing Problem

Perhaps you didn't know, but 60% of credit card holders have experienced fraud. In a recent article, published these results.

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The study was conducted in America, and the graph shows that in 2024, 45% of people suspected unauthorized movements in their accounts. The most striking aspect is how this has been growing over the years; in 2021, it was 35%.

What happens when users see this type of movement? They report it and initiate the infamous chargeback, an action that financial institutions dread. Chargebacks are one of the major issues faced by banks. Why? Disputes are EXPENSIVE: for every dollar in a disputed transaction, an additional $1.50 is spent on fees and expenses.

But they are also a problem for the following reasons:

1. Chargebacks are often used as a mechanism to dispute fraudulent or unauthorized transactions.

2. Chargebacks result not only in revenue loss but also in additional costs, such as chargeback processing fees and the time and resources required to investigate and respond to disputes.

3. Excessive chargebacks can harm a merchant's reputation and make payment processors reluctant to work with them.

4. Chargebacks can lead to compliance investigations and fines if it's proven that a merchant hasn't adequately protected credit card information.

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As mentioned in the report, “128 million Americans have been victimized by credit card fraud, 52 million in the last year alone — more than 90 percent of those crimes employed remote technology without access to a physical card.”

The Role of Transaction Data Enrichment

Enriching transaction data involves adding valuable context and information to basic transaction details. This process transforms raw data into meaningful insights that can help banks detect anomalies and identify potentially fraudulent activities. By integrating enriched transaction data into their fraud detection systems, banks can achieve a higher level of accuracy and efficiency in their fraud prevention efforts.

Triple API

Our API allows you to extract valuable information from your financial data. What information can you display?


At the heart of our model lies the concept of brand representation, which signifies the counterpart associated with the transaction. Each brand comes with its own official identity and visual representation in the form of a logo.

Contact Details

We provide essential contact particulars, encompassing website URLs, phone numbers, and email addresses.


Transaction categorization stands as a pivotal aspect of data enrichment. We meticulously assign categories and subcategories. to each transaction from a standardized list, ensuring clarity and organization.


Transactions occurring at physical points of sale are accompanied by location details, encompassing coordinates and vendor addresses. However, online transactions do not qualify for location data.


Identifying recurring payments, we provide additional metadata related to subscriptions, facilitating streamlined management.

Payment Processor

Certain transactions are routed through intermediary entities known as Payment Processors. We recognize the prevalent ones, such as PayPal, Klarna, or Curve, furnishing their official names and logos.

Carbon Footprint

We conduct an extensive assessment of the carbon emissions footprint associated with each transaction, adhering to verified standards such as the Statistical Classification of Economic Activities (NACE) and publicly available company data.


In the fight against financial fraud, enriched transaction data emerges as a powerful tool for institutional banks. Our API offers an effective solution to enhance data accuracy. By adopting advanced transaction data enrichment tools, banks can strengthen their defenses against fraud and protect their customers' financial well-being.

Stay ahead in the battle against financial fraud with our transaction data enrichment API. Contact us today to learn more about how our product can help your institution achieve superior fraud protection.

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