Questions

Some companies ask you to link your credit card to them so you can track your spending or get discounts by using the card. How do they do that?

Do you have to work with each and every credit card issuing bank so that they will give you access to their card base? Or do you work with Visa and Mastercard? One example is https://www.mogl.com/. You link your credit card to your Mogl account and you get cashback in the form of credit card bill rebate. How do they do that?

3answers

These companies usually subscribe to services by the likes of Mint (now Intuit) or Yodlee. These companies use the FIX protocol (usually) and receive obfuscated data from the credit card companies and banks. The data is non-transactional data, i.e. you cannot do any transaction with the data, but you can build a spending profile from it.


Answered 6 years ago

Its a combination of the First Data Offerwise Platform and the CardSpring API. You need to get certified by First Data in order to get access to the datasets required to build a service like that.


Answered 5 years ago

I believe the best way to do that what "mogl" does is by working with the merchants directly, in this case restaurants, and then cashback the customer credit card after a deal has been done.

From my experience as a PCI-DSS project manager for a large airline, issuers would not easily share their customers transactions even if they could.

Therefore I would challenge your question by rethinking on why do you need the credit card data? if it is for a similar use case as "mogl" or if you need the actual transaction for some financial app you may get access to that data by leveraging the "endpoint" of the transaction rather than the issuer.


Answered 5 years ago

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