Full Transaction Breakdown

(Andrew Battisson) #1

Transaction Breakdown :mondo:

Hey All :smiley:,

Here’s the basic idea: be able to tap on a purchase and get a breakdown of the individual items that make up that purchase.

So for example:

Tesco: £15 :money_with_wings:
Freddo - £5 :moneybag:
Curly wurly - £5 :moneybag:
Snaps - £5 :moneybag:

I’m not sure if this is entirely possible currently as I haven’t seen a single implementation of this idea, but i’d love to find out!

Product Level Data
A few features ideas
What you're spending your money on
(Rika Raybould) #2

While I agree that this should be the goal, where exactly would this information come from?

There have been a few threads about merchant integration. Requiring merchants to write to Mondo’s API is unlikely to gain mass-traction though, I’m personally really hoping that digital receipts is something the card networks are looking in to.

(Andrew Battisson) #3

Thats my thinking, I wasn’t sure whether a transaction retained information of each item; let alone made them accessible to Mondo or other platforms.

Would be really interested in looking into the future of this as a true breakdown of purchases would be a great step forward, I find it strange that we still get a large slip of paper for a 40p pack of gum yet cannot access, as suggested, a digital receipt, which would make keeping records for disputes or what have you a searchable archive.

We’ll just have to ‘Disrupt’ the receipt business! :boom:

(James Billingham) #4

Yeah, this is why I’m advocating for some kind of open standard usable by any bank and any merchant. We definitely would not integrate solely with Mondo.


Take a photo of the receipt, software analyses and provides breakdown. This is done by all of the major Accountancy software.

(Andrew Battisson) #6

A unified standard for providing information to banks would be a real win in terms of bringing banking into modern times.

@Harrison I know that there is a way, I was just bringing forward the idea of possibly bringing everything into one place .

I’d like to see exactly how the information of a purchase is passed through to a Bank, would be interesting to see how it is formed :wrench:.

(https://youtu.be/5DmYLrxR0Y8) #7

Sainsburys definitely link your purchases with Nectar. I’ve picked up cigarettes for someone at work on numerous occasions and it they appeared in my suggested purchases when we did an online shop. My Wife was quite annoyed with me, took some convincing until she believed I wasn’t smoking again.

(Rob) #8

To facilitate this would require a full breakdown of your expenditure being submitted to the merchant’s bank, the acquiring banks and intermediaries, and ultimately to the issuing bank. Technically that would be a feat in itself.

And although I have nothing to hide, I am not convinced that I would want all of my detailed purchases to be available to these companies/organisations. Your bank and lots of other commercial enterprises (I’m thinking Google and Facebook here) harvesting a helluva lot of information, and knowing more about you than you might care to share. Everything about your life will be targeted and monetised. A scary proposition.

Fancy your inbox being bombarded with emails reminding you that you could have saved 50p buying that last pack of condoms from retailer ‘x’ instead of ‘y’? Or how about you’ve tried brand/flavour ‘x’ of something, have you tried brand/favour ‘y’ instead? And here’s a discount voucher to entice you? It potentially very powerful; which is precisely why the big retailers spend lots of money on their own loyalty schemes. But you have a choice there - sign-up or don’t sign-up to a loyalty scheme. If the granular detail of all your purchases are automatically uploaded, digested and processed at point of sale, you may not have a choice and lots of organisations will know an awful lot about you. Arguably too much.

(Andrew Battisson) #9

This is definitely a concern, considering as you said that most of our data is collected anyway, because I often get emails even now that shows products i’ve looked at / bought or adverts online that are scary predictive of what I may want.

It seems we have already crossed over into the world of being a data asset, I do however hope that a possible solution could arise that doesn’t become just another plug for the big boys to siphon through.

It would be interesting to see how that data is used anyway because ultimately the information is present, I’m wondering how that data persists currently, and just because we can’t yet get it to our phones does it not already end up somewhere else?

The plot thickens… :spy:

(Giacomo Vannucchi) #10

Hi can you provide an example of this?


Why not just the ability to self break down a transaction within that transaction yourself you dont need the merchant to do anything which could solve privacy concerns.

For example it says I spend £23 in Tesco as my overall transaction (as Mondo would know) is £23. Then when I click into the transaction and three options would be notes, receipt and break down. Within breakdown you could split the £23 down into parts if you wished. Overall Mondo would still be £23 but it would be for your information that you can break it down into smaller chunks to explain.

Just like recently I bought 3 items on iTunes. Now it doesn’t show three separate items, just one overall purchase. Breaking it down would be appreciated. As someone said above, if a scan of the receipt also did it it would be better but not crucial to this idea.

People concerned with privacy. The app just needs an opt in for anything like advertising. However for this idea advertising isn’t needed. I would just like an itemised list of purchases.

(Frank) #12

I think the interim solution has already been mentioned above. We have the ability to add a receipt to a transaction. The next step would be to build in an analysis tool to extract the items from the receipt. I think one issue would be vat. Some receipts show items with and without vat and/or a separate vat amount. Also discounts on a full transaction could skew the figures.

Longer term it would be good to have an API that would link a card number to an email address or unique reference for where the digital receipt should be send to. So if I shop in H&M and use card number 1234 H&M systems knows the digital receipt needs to be sent to user/reference 5678. It does not have to be through the merchant systems however sending the data this way would always be more succinct.