The new partnership between Nets and Triple aims to enhance digital banking experiences by turning raw payment data into clear, recognisable merchant information, helping banks cut support costs and improve customer trust.
Nets, part of Nexi Group, has announced a strategic partnership with Triple, a provider of transaction data enrichment technology, to enhance transaction transparency for Nets Estonia clients. The collaboration is designed to improve how card transactions are displayed in digital banking environments, while helping issuers reduce customer inquiries and chargeback-related costs.
The initiative addresses a growing industry challenge. Global chargeback volumes are projected to reach 324 million cases by 2028, with an estimated total cost of nearly $42 billion. A significant share of these cases stems from cardholders failing to recognise legitimate transactions on their statements, a phenomenon commonly referred to as “friendly fraud.” Unclear merchant descriptors and raw payment data often trigger customer concern, leading to increased calls to support centres and unnecessary chargeback claims.
Through the integration of Triple’s API into its technology stack, Nets Estonia will provide enriched transaction data to its clients, with a particular focus on fintechs and neobanks operating across Europe. The solution converts fragmented and unclear transaction strings into standardised, recognisable merchant descriptors. These enriched records include merchant names, logos, spending categories, locations, websites, and contact information, giving end users clearer context for each transaction.
According to the companies, the partnership that combines Nets’ established payment infrastructure and regional expertise with Triple’s data enrichment capabilities is expected to deliver several benefits. Clearer transaction data is intended to help cardholders quickly identify purchases, reducing confusion and increasing trust in digital banking interfaces. For banks, improved clarity is expected to lower the volume of customer support queries and unjustified chargeback requests, contributing to reduced operational costs. The enriched data also enables issuers to build more personalised financial management features within their apps.
The solution also supports regulatory and scheme compliance. Nets Estonia clients will be aligned with Mastercard’s AN4569 mandate introduced in 2023, as well as Visa’s upcoming enhanced merchant data requirements scheduled to take effect in 2027, both of which require issuers to display detailed and recognisable merchant information to cardholders.
The integrated solution is expected to be available to Nets Estonia customers from 2026, representing another step in the modernisation of payment data presentation across European banking platforms.
