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One UK start-up said: “We think it’s insane that today you can go around tapping your card or paying with watches or even your face, yet the only way to keep track of exactly what we buy in the real world is on tiny pieces of paper.”
Card processors such as Barclaycard and Worldpay already tell businesses about when, where and how much customers are spending, while neobanks such as Monzo and Revolut have helped make spending analysis a popular feature for consumer banking apps. But it is still difficult to provide a full breakdown of spending: Monzo might be able to show that you spent £500 in “grocery stores” last month, but it can’t tell whether the money went towards food, drinks or electronics.
https://www.ft.com/content/b18e4a38-46a6-11ea-aeb3-955839e06441
