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Link Credit Cards within Mobile app to Mastercard network

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  • 18-02-2019 4:45pm
    #1
    abakan
    Registered Users Posts: 546 ✭✭✭


    Hi, How would you link Credit cards/Debit cards from within a mobile app to the Mastercard/visa network.

    We want to be able to see when a Credit card is used if the user has that card linked within the app.

    :confused:


Comments

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    #2
    Draco
    Subscribers Posts: 1,911 ✭✭✭Draco


    Unless you've a deal with the card issuer, you're not going to get access to that data. What are you trying to achieve?


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    #3
    abakan
    Registered Users Posts: 546 ✭✭✭abakan


    Thanks for that.

    It thought is a finance app for money tracking/spending.

    We are trying to see of a way we can see users transactions they spend via credit card and debit card and post those through to our app.

    A user would add there Credit cards to the app and any payment would be seen on a report on the app.


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    #4
    banie01
    Registered Users Posts: 16,496 ✭✭✭✭banie01


    It may be possible to extract the necessary info as PSD2 compliant service and present something like a "Dashboard" view of accounts and payments.

    PSD2 allows financial Data sharing via data and API's but other than that I would have no real knowledge of how to pursue implementation in a "new" app or non regulated entity.


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    #5
    abakan
    Registered Users Posts: 546 ✭✭✭abakan


    Yes - I'm pretty sure we can that information via open banking - Im sure any user who sign's up to the services would allow the app to parse that information that comes from it.

    We thought about getting right to the credit card companies itself - which is looking more challenging.


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    #6
    Draco
    Subscribers Posts: 1,911 ✭✭✭Draco


    PSD2 may not give you access to credit cards - it depends how each country has actually interpreted the directive. It doesn't explicitly include credit cards but they are accessible in the likes of the UK.

    There's a few companies (as well as banks themselves) looking at this already and it'll become a crowded market very quickly.You'd want to have a clear advantage (be it functionality or UI/UX) over the others to get any traction.

    The schemes (Mastercard/Visa/Amex etc) don't provide direct access to the transactions to 3rd parties so you'll need to go through a card issuer or PSD2.


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