May 23, 2024

Síminn Pay partners with Snowdrop for Advanced Transaction Enrichment

Reykjavík, Iceland – May 23rd, 2024 – Snowdrop Solutions, a leading financial data enrichment solutions provider, announced today a successful integration of its transaction enrichment API (MRS API) with Icelandic fintech company Síminn Pay‘s digital banking platform. This integration empowers Síminn Pay to deliver a richer user experience by offering customers clearer and more insightful transaction details.

Síminn Pay leverages the MRS API to automatically enrich customer transactions with key data points, including merchant logos and clean names, the location of the purchases on a Google Map, smart categorisation of each transaction, and merchant contact details. This enhanced information streamlines expense management and fosters greater financial clarity for Síminn Pay users. By simplifying transaction recognition, the MRS API empowers users to feel confident and in control of their finances.

“We are thrilled to welcome Síminn Pay as our first customer in Iceland,” stated Ken Hart, CEO and Founder of UK-based Snowdrop Solutions. “This partnership is a testament to our ongoing commitment to global expansion and reflects the growing demand for advanced transaction enrichment solutions. By continuously investing in our MRS API, we empower innovative fintech companies like Síminn Pay to deliver the best possible user experience for their customers.”

Alignment with Síminn Pay’s Vision

This integration aligns perfectly with Síminn Pay’s mission to provide innovative financial solutions that empower users and promote financial transparency. By offering a user-friendly platform with insightful transaction details, Símmin Pay can further enhance customer experience and satisfaction.

Síminn Pay mobile app after integrating Snowdrop's advanced transaction enrichment API

For instance, Símmin Pay’s corporate card solution prioritises secure access control, clear overviews, and efficient sorting – all areas where the MRS API excels. With enriched transaction data, corporate card users can easily identify expenses, categorise them appropriately, and gain valuable insights into their spending habits. 

“Snowdrop’s MRS API perfectly complements our focus on user empowerment. Clear transaction data simplifies expense management and strengthens financial control. It empowers us to deliver the user-friendly experience our customers deserve, especially with corporate cards and travel spending. We’re excited to explore the potential of the API’s new features for even more personalised services.”

Gunnar Hafsteinsson, Managing Director of Siminn Pay

About Síminn Pay

Síminn Pay, the digital wallet app from Iceland’s Síminn telecom, simplifies payments with secure contactless transactions, flexible payment options, and convenient features like parking payments, deal discovery, receipt management, and charitable donations—all in one app. Compatible with numerous retailers nationwide, it’s ideal for individuals seeking comprehensive management in one convenient location.

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