Mastercard Adds Transaction Details To Online Purchase History

Mastercard has debuted a new service to boost transparency for users’ purchases online, a press release says.

The payments company’s service, delivered via Ethoca, will give customers more details on their purchases like the merchant’s name, logo and location of the purchase.

Merchants have been invited to upload their logos and increase their brand’s visibility, as well as doing away with confusion on the purchases that have led to unnecessary chargebacks before.

In addition, the release says Mastercard is also working with issuers to help make a new industry standard, in which the better visibility and details are more entrenched in digital bank channels in the next year.

The release also cites a recent survey by Mastercard where many users said they’d had trouble identifying some of their recent transactions, and, thinking they’d been scammed, filed chargebacks even though the purchases actually had been their own.

Some of the issues that crop up in trying to look through transactions include unrecognizable merchant names, or if the payment processor’s name is displayed rather than the merchant’s.

The survey found that 77 percent of users sometimes could not identify purchases made on their own accounts for those or other such reasons.

Companies will be able to upload their logos by visiting Ethoca’s website and completing the associated form, the release says.

Brian Morris, vice president of product development for CEE at Mastercard Europe, said the company believes that “greater transaction transparency significantly improves digital banking channels’ user experience and gives consumers peace of mind and sense of control over their spending.”

“From issuers’ point of view, it increases cardholders’ interactions with bank’s digital channels, and merchants will get enhanced brand’s visibility,” he added. “Also, both banks and merchants would benefit from lower volume of consumers’ calls and complaints.”

Chargebacks have become a point of friction in the digital age, PYMNTS reports, and with the digital shift of the pandemic, the number of chargebacks and confusions are likely to be higher for the time being.

CPG Firms Missing Out as Treasurers Face Collaboration Barriers

Treasurers can play a vital role in consumer packaged goods (CPG) firms. Their input allows for better management of liquidity and positively influences the firm’s financial health. But how often is their expertise underused?

Treasurers at CPG firms report barriers, such as limited collaboration opportunities and a lack of understanding of their role, preventing them from fully contributing to strategic decisions. The consequences can be severe. Treasurers with limited influence report less cash flow predictability and more missed opportunities for financial optimization.

PYMNTS Intelligence data shows that an unsettling amount of department heads see treasurers as highly influential, highlighting a major disconnect. Most treasurers report facing three or more barriers to collaboration. These challenges restrict treasurers’ ability to drive financial stability and operational improvements. CPG firms looking to maximize their potential need to take a second look at the benefits treasurers can provide.

Inside “The Impact of Misunderstood Treasurers in the Consumer Packaged Goods Sector,” you’ll discover:

  • Why just 43% of treasurers’ peers at CPG firms view them as highly influential in decision-making
  • The key obstacles treasurers face, including a lack of collaboration opportunities and limited recognition of the treasury’s value
  • How greater collaboration can improve cash flow predictability and reduce debt
  • How empowering treasurers can unlock operational efficiencies and long-term growth opportunities

Download the report: The Impact of Misunderstood Treasurers in the Consumer Packaged Goods Sector

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    This report provides valuable insights into optimizing treasury functions for better cash flow and strategic outcomes for CPG financial leaders and executives. It provides data-driven strategies and actionable solutions. Download your copy today.

    About the Report

    The Impact of Misunderstood Treasurers in the Consumer Packaged Goods Sector” is a PYMNTS Intelligence and Citi collaboration. It examines how CPG firms can overcome barriers to treasurer involvement and harness their expertise to improve financial performance. This edition explores the influence gap faced by treasurers and its direct impact on cash flow predictability and operational outcomes. It draws on data from a survey held between April 9, 2024, and May 28, 2024, which included 100 CPG treasurers and department heads from finance, strategy and operations.