How Tjommi is putting price match refunds on autopilot

Launched in 2018, Norweigian startup Tjommi is on a mission to find better prices and get your money back. Here’s how they’re using Tink’s account aggregation technology to create greater transparency to price match guarantees and help people get refunds – without any hassle.

TL;DR – Quick summary

  • Tjommi is a Norwegian startup helping people take advantage of price match guarantees and automatically get refunds when a product’s price drops.

  • The Tjommi app scans the user’s receipts to track prices, and automatically files claims to help the user get refunded.

  • Tjommi uses Tink’s account aggregation to track users’ purchases straight from their bank account.

How Tjommi is putting price match refunds on autopilot

Imagine doing some personal shopping for a TV or a washing machine only to later find the same item online for a lower price. The joy you got from the new purchase quickly turns into a sour feeling of having poured money down the drain.

Retailers frequently have sales (especially around the holiday season) and prices drop all the time. Most big online retailers have a price guarantee that offers cash back if they find a lower price within a specific period of time.

This means consumers can get a refund for the price difference. But in reality, not many people do. They don’t have time or simply don’t know how. That’s where Tjommi steps in.

Refunds on autopilot

The Tjommi app helps people save time and money by tracking prices online – and helping users get deductions on already made purchases when prices drop. Tjommi is growing steadily, already counting 16,500 users, and having processed €1.4 million in transactions for their user base.

The way it works couldn’t be simpler. Users just sign up with their email, and from here, Tjommi automatically scans their inbox for online shopping receipts (or users can also upload receipts manually). Then, Tjommi registers the purchased products in their database and immediately starts tracking their prices across the internet.

Once a price drop is detected, Tjommi files a digital claim on your behalf – right from the users’ email address. And if it can get money back, the refund goes directly to the user’s bank account.

So if you pay €1,000 for a computer at GiantShop, and Tjommi finds the same model for €800 at Amazine, it sends an email on your behalf asking GiantShop for a refund. If they give the refund, the user gets €150 back in savings (since Tjommi takes a 25% commission).

Powering fairer shopping with open banking

Using Tink’s account aggregation, Tjommi can access users’ real-time transaction data straight from their bank accounts (with consent, of course). This lets them track purchases and cross-check for receipts in their inbox. If Tjommi doesn’t find an email receipt, they’ll notify the user to upload the receipt manually so they can scan for better prices.

In addition, Tjommi is leveraging account aggregation to fetch users’ account details to simplify the payout process. This lets users quickly connect their accounts to get their refunds without having to manually fill in account details.

By integrating with Tink Link – a process that took less than two days – Tjommi can leverage open banking without needing to worry about how users connect to their banks. Tink Link takes care of the authentication process, guaranteeing a smooth user experience. This spares Tjommi the time and effort of handling all the connections themselves and lets them focus on their thing: helping people save money.

To find out how you can build the financial services of the future with Tink, check out our getting started guide.

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