Genuine question with all of these things: What would you do with the Merchant Category Code information?
In my opinion, empowering users does not mean showing you every possible piece of information, it’s about giving you the right information and tools in the app to make decisions. Knowing that Amazon was MCC 5942 - Bookshops until April this year, when they changed to MCC 5999 - Miscellaneous and specialty retail outlets possibly isn’t the most useful to people.
Merchant Category Codes already power several app features such as transaction emoji, default categories, and gambling block off the top of my head. The majority of transactions just use one of the generic “not otherwise categorized” codes though.
Give you information about how merchants see themselves. Gives you info about payment processing.
Incredibly useful in troubleshooting any issues with payments, points, cashback.
Absolutely vital in reconciling statements. I have spent hours trying to work out what several transactions on my statement with cryptic names just as “MB” and “Mega Ent.” are. With the MCC this would have been solved in seconds.
Hey guess what? It’s not just about you. Because only others use a feature does not mean you get to veto it!
It’s about all the people who would find it useful on a daily basis as well as other metadata inexplicably hidden from us.
The data is already there, it costs nothing to shove it in a csv or wrap it in some CSS. What exactly would you lose from having this available?!
It’s not exactly a UX miracle to make it available to those who need it without clogging up feeds of others.
Woah woah woah. Can’t disagree with this more. If there are non-confidential data, making them available to the owners of that data can never be a bad thing. It can be tucked away inside a csv export or similar if you want, but there’s never ever a reason why this should be withheld! Who would possibly lose out by making this available to us?
Sorry, this sounds a little arrogant to me? The point I was making is that it is massively useful to a lot of people (and for other use cases I haven’t identified). Why are you seemingly writing it off because it’s not relevant to you?!
As I said, I’ve given concrete examples where this is the case.
To repeat one. I go through my bank statements monthly. One time I saw a payment I didn’t recognise as all my bank statement said was “MB” and the date it cleared. I had no idea what actual date it was made, no idea about the time, the location. No idea whether it was chip+pin, cardholder not present, 3DS, nothing. I had to call to find the exact time the payment was made, then go through my google maps location history to check all the places I’d been and my browser history to the websites I’d visited. Finally, with the MCC I was able to narrow it down sufficiently to a company called “Roar”. There are dozens of metadata here that could have saved me a lot of time.
With just the name “MB” and the date, it was virtually impossible to work out what this payment was a about and whether I should query it before it’s too late.
Now banks can either choose to show the bare minimum “date” and “MB”. Or all the other data. Monzo use things like location to great effect. Time is very useful on days where you process dozens of transactions. So are all the other pieces of data.
Just because many people haven’t found themselves using postcodes of transactions regularly in the past with legacy banks doesn’t mean if we have the ability to display it would should hide it from everyone…!
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Weird. I’ve been reconciling statements for 40 odd years, and yet had to Google MCC to find out what it was.