Payment Run Plug-in enabled in EEA

We are delighted to announce that Weavr is enabling EEA customers to make use of the Embedded Payment RunPayment Run A list of payments created by Buyers to settle their outstanding financial obligations with their suppliers. Payment runs are typically managed by the accounts payable function within a business on a periodic basis and go through stages of creation, authorisation, funding, and execution. Solution. Apart from the UK, Embedded Payment RunPayment Run A list of payments created by Buyers to settle their outstanding financial obligations with their suppliers. Payment runs are typically managed by the accounts payable function within a business on a periodic basis and go through stages of creation, authorisation, funding, and execution. is now available for end-customers in the European Economic Area. End-customers residing in the EEA can now onboard, fund and make domestic payments in Euros on the SEPA bank transferTransfer A transaction that moves funds between instruments managed by Weavr. The source and destination instruments of a transfer transaction must be owned by the same identity. Transfers can be scheduled for future execution and can be performed in bulk operations. rails.

Effective:

• 01 July 2024 on Sandbox
• 09 July 2024 on Live

EEA countries supported

Weavr is now supporting buyersBuyer A business entity in the Payment Run solution that can be provided with financial services to perform embedded payment runs. Buyers are onboarded through a KYB process and can create payment runs to pay their suppliers. They have roles such as Admin, Controller, and Creator. residing in the following countries:

Austria	Belgium	Cyprus	Denmark
Finland	France	Ireland	Italy
Estonia	Luxembourg	Latvia	Netherlands
Norway	Poland	Portugal	Slovakia
Slovenia	Spain	Sweden

note

The payment runPayment Run A list of payments created by Buyers to settle their outstanding financial obligations with their suppliers. Payment runs are typically managed by the accounts payable function within a business on a periodic basis and go through stages of creation, authorisation, funding, and execution. plug-in will be enabled soon in Germany.

Retrieve Open BankingOpen Banking A service that allows customers to securely share their bank account information and authorize payments directly from their bank account. In Payment Run, Open Banking can be used to link accounts and fund payment runs, providing a seamless experience for buyers. Institutions

To ensure that you can support your buyersBuyer A business entity in the Payment Run solution that can be provided with financial services to perform embedded payment runs. Buyers are onboarded through a KYB process and can create payment runs to pay their suppliers. They have roles such as Admin, Controller, and Creator. to link an account and to fund a payment run we have created an endpoint that retrieves all the available institutions that use open bankingOpen Banking A service that allows customers to securely share their bank account information and authorize payments directly from their bank account. In Payment Run, Open Banking can be used to link accounts and fund payment runs, providing a seamless experience for buyers..

We suggest that you enable your end-customers to verify that their current financial institutions are supported by Weavr before they onboard.

New API endpoints:

• Get Institutions

Account Information Service (AIS) Consent in the EEA

In the EEA, the Account Information Service (AIS) consents can be granted up to 180 days. This means that your users are required to extend their consent to continue using the associated Linked AccountLinked Account An entity in the Weavr system that represents an external bank account or payment service provider (PSP) account which an Identity has verified they own and control. This feature enables users to perform transactions, such as outgoing and incoming wire transfers, between their Linked Accounts and their Managed Accounts as 'self-to-self' transfers. every 180 days.

Retrieve the linked accountLinked Account An entity in the Weavr system that represents an external bank account or payment service provider (PSP) account which an Identity has verified they own and control. This feature enables users to perform transactions, such as outgoing and incoming wire transfers, between their Linked Accounts and their Managed Accounts as 'self-to-self' transfers. consent expiry and status

The Get Linked Accounts & Get a Linked Account endpoints have been updated to contain the consent information with the below fields:

• expiresAt
• expiresIn
• status

Note: If the consent, expired the:

• expiresAt will contain a value of '0'.
• expiresIn will contain the date in the past of the AIS consent expired.

You will also receive the AIS consent expiry and status (expiresAt, expiresIn & status) in the link account update event.

Extend the AIS consent

To extend the consent in EEA you need to provide the linkedAccountId parameter of the linked accountLinked Account An entity in the Weavr system that represents an external bank account or payment service provider (PSP) account which an Identity has verified they own and control. This feature enables users to perform transactions, such as outgoing and incoming wire transfers, between their Linked Accounts and their Managed Accounts as 'self-to-self' transfers. in the AIS UI Component.

• Extending an AIS consent before the 180 days pass

  The consent can be initiated before 180 days elapse, this means that your user will be shown a consent renewal request screen for Weavr to continue accessing their bank account information. If the user clicks on 'I Consent' your user will be redirected to their Bank's portal to approve the consent request. In the Banking portal, the bank will ask them to authenticate and re-confirm the bank account to be shared.

• Extending an AIS consent after the 180 days pass

  Initiating the AIS consent after 180 days, can still be extended, however your user will be shown an expired consent screen. To renew the consent, your user will be redirected to their Bank's portal to approve the consent request. In the Banking portal, the bank will ask them to authenticate and re-confirm the bank account to be shared.

BuyerBuyer A business entity in the Payment Run solution that can be provided with financial services to perform embedded payment runs. Buyers are onboarded through a KYB process and can create payment runs to pay their suppliers. They have roles such as Admin, Controller, and Creator. endpoints updated to accept 'EUR'

We have updated the buyerBuyer A business entity in the Payment Run solution that can be provided with financial services to perform embedded payment runs. Buyers are onboarded through a KYB process and can create payment runs to pay their suppliers. They have roles such as Admin, Controller, and Creator. endpoints to accept the 'EUR' currency in the supportedCurrencies object:

• POST/buyers
• GET/buyers
• PATCH/buyers

Payment runPayment Run A list of payments created by Buyers to settle their outstanding financial obligations with their suppliers. Payment runs are typically managed by the accounts payable function within a business on a periodic basis and go through stages of creation, authorisation, funding, and execution. endpoints updated to accept 'EUR'

We have updated the payment runPayment Run A list of payments created by Buyers to settle their outstanding financial obligations with their suppliers. Payment runs are typically managed by the accounts payable function within a business on a periodic basis and go through stages of creation, authorisation, funding, and execution. API and events endpoints to accept the 'EUR' currency in the currencies object:

• POST/payment_runs
• GET/payment_runs
• GET/payment_runs/{payment_run_id}
• GET/payment_runs/{payment_run_id}/fund

Events endpoints update:

• Payment Run Update
• Payment Update

Linked accountLinked Account An entity in the Weavr system that represents an external bank account or payment service provider (PSP) account which an Identity has verified they own and control. This feature enables users to perform transactions, such as outgoing and incoming wire transfers, between their Linked Accounts and their Managed Accounts as 'self-to-self' transfers. endpoints updated to accept 'EUR'

We have updated the linked accountLinked Account An entity in the Weavr system that represents an external bank account or payment service provider (PSP) account which an Identity has verified they own and control. This feature enables users to perform transactions, such as outgoing and incoming wire transfers, between their Linked Accounts and their Managed Accounts as 'self-to-self' transfers. API and event endpoints to accept the 'EUR' currency in the currencies object:

• GET/linked_accounts
• GET/linked_accounts/{linked_account_id}
• POST/linked_accounts/{linked_account_id}/unlink

Updated Events endpoints

• Linked account update webhook

Embedder PortalEmbedder Portal A web-based portal where embedders can access their Weavr account, manage API credentials, configure settings, view dashboards, and access documentation. The portal provides access to both sandbox and production environments, with separate credentials for each. settings

When you open a sandbox account, upon the registration form you are required to choose the jurisdiction you are residing in. If you select "EEA" (European Economic Area) then by default, the EUR currency will be selected.