14 posts tagged with "Breaking Change"

As mentioned in our previous update, to mitigate against security risks, we are now requiring the user who is updating an authorised user to step-up their token.

As mentioned in our previous update, whenever your customers creates a GBP 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., all Payment Service Providers using the UK Faster Payment System will need to perform a check on the payee's name to ensure it matches the account details based on the sort code and account number. This requirement aims to help prevent payments from being accidentally sent to the wrong account or maliciously misdirected. This process is known as Confirmation of PayeeConfirmation of Payee A service that automatically verifies bank account details when creating payment runs or outgoing wire transfers. For GBP payments, CoP checks return results showing Exact Match, Close Match, or No Match, including reason codes and additional information to help verify the payee details are correct. (CoP).

As mentioned in our previous update, we are implementing measures to combat Authorized Push Payment (APP) Fraud.

In the UK, APP (Authorized Push Payment) Fraud is a growing type of scam, where fraudsters trick individuals into authorizing payments to accounts controlled by criminals. Unlike traditional fraud, where unauthorized transactions are made without the victim’s consent, APP fraud involves convincing the victim to willingly 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. money under false pretenses.

To mitigate against security risks, we are now requiring the user who is updating an authorised user to step-up their token.

Starting this October, whenever your customers creates a GBP 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., all Payment Service Providers using the UK Faster Payment System will need to perform a check on the payee's name to ensure it matches the account details based on the sort code and account number. This requirement aims to help prevent payments from being accidentally sent to the wrong account or maliciously misdirected. This process is known as Confirmation of PayeeConfirmation of Payee A service that automatically verifies bank account details when creating payment runs or outgoing wire transfers. For GBP payments, CoP checks return results showing Exact Match, Close Match, or No Match, including reason codes and additional information to help verify the payee details are correct. (CoP).

As previously communicated, we are introducing a breaking change to 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 enhance your ability to track the status of currency creation. This breaking change will include modifications to the HTTP 200 response when creating and updating a 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., as well as changes to the webhook events to support 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. updates.

As previously communicated, we are removing the deprecated delete a linked account endpoint.

On 3rd September 2024, we are introducing a breaking change to 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 enhance your ability to track the status of currency creation. This breaking change will include modifications to the HTTP 200 response when creating and updating a 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., as well as changes to the webhook events to support 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. updates.

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