Go beyond your own rails and lagging indicators. Enigma provides real-time card transaction intelligence to help you accurately size, acquire, and grow your merchant portfolio with confidence
The Challenge
Your Payments Blind Spot is Costing You
For over a decade, payments leaders have struggled with the same core problem:
Payment teams see only their own rails. To size a merchant's real card volume, revenue leaders juggle:
- Tedious processing statement reviews
- Blunt revenue intel built for enterprises, not SMB merchants
- Internal data blind to share-of-wallet against competition
- Expensive, manual prospect research
The result: Sales reps chase the wrong accounts, risk models misfire, and competitors scoop up untapped GPV.
The Solution
From Guesswork to Ground Truth
Enigma replaces flawed estimates with real payment flow
We provide the industry's most accurate signal on merchant financial health, sourced directly from our panel of anonymized U.S. card transaction data.
While no single source can capture 100% of a merchant's total revenue (including cash, B2B, and ACH), Enigma provides the definitive ground truth on the most critical component: Gross Processing Volume (GPV) from consumer card transactions.
It's the clear, trusted signal you need to make smarter, faster decisions across your entire organization.
Use Cases
How Payments Leaders Win with Enigma
Focus Sales on High-Potential Merchants
Prospecting & Sales Operations
Stop wasting your GTM team's time chasing ghosts.
Equip your RevOps and Sales teams with the real GPV and growth trajectory of every lead. Automate lead routing to ensure your top reps are focused on the highest-potential merchants, while your long-tail is managed with perfect efficiency.
Outcomes
- Size actual card GPV for every prospect before the first call.
- Automate lead routing to separate self-serve from SMB, Mid-Market, and Enterprise tiers.
- Uncover emerging brands growing rapidly under the radar of traditional data providers.
- Qualify with precision: Companies like Preflect use our data to block 3.3x more bad leads and increase demo-to-close rates by 29%.
Capture the Full Card Wallet
Account Management & Growth
You see what they process with you, but how much do they send over other rails?
Enigma reveals the total card payment wallet, highlighting opportunities to consolidate processing from competitors or capture volume from new merchant flow types like subscriptions, online ordering, or in-person "tap-to-pay."
Outcomes
- Benchmark your share-of-wallet against a merchant's total card GPV.
- Identify competitive displacement opportunities when you see volume flowing to other processors.
- Uncover ancillary revenue streams: Use Enigma’s unified revenue perspective to spot opportunities across channels (multiple selling points)
Onboard and Underwrite with Confidence
Risk & Onboarding
A successful onboarding strategy isn't just about checking compliance boxes.
It's about understanding the true identity and viability of a merchant from day one. Enigma goes beyond standard KYB. We connect verified legal entity data from sources like the Secretary of State with real-world financial activity from our card transaction panel. This provides a holistic view, allowing you to not only confirm a business is legitimate but also that it's financially active, helping you automate more approvals and underwrite with unparalleled confidence.
Outcomes
- Verify a business is real and active based on the presence of recent card transactions—a key signal to avoid fraud.
- Streamline KYB pre-checks by filtering out non-viable businesses upfront.
- Improve underwriting models for BNPL, lending, or cash advance products with historical transaction stability data
The Trusted Data Foundation for Payments & Fintech
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$7.1T
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Explore Enigma's Merchant GPV
Get in touch with our data experts or explore our API documentation to get started