11 posts tagged with "Buyers"

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.

We have updated the permissible company types in the Create 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. endpoint to match our current KYBKYB Know Your Business - the identity verification process for corporate identities. This process allows you to seamlessly and securely verify your business customer's identity. Weavr will ask users to submit the necessary information and documentation so that they can get approved by financial providers. restrictions.

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.

We are excited to introduce the ability to fund and pay suppliersSupplier A trusted business or individual that receives payments from Buyers through payment runs. Suppliers can be stored in a trusted supplier list, and when marked as trusted, may allow Buyers to skip Strong Customer Authentication when executing payment runs to those suppliers. in both EUR and GBP currencies. This optional new feature provides greater flexibility and convenience.

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.

We are making a number of changes in this release to how we handle expiry of proof of ID (PoI) documents in KYCKYC Know Your Customer - the identity verification process for consumer identities. This process allows you to seamlessly and securely verify your user's identity. Weavr will ask users to submit the necessary information and documentation so that they can get approved by financial providers. and KYBKYB Know Your Business - the identity verification process for corporate identities. This process allows you to seamlessly and securely verify your business customer's identity. Weavr will ask users to submit the necessary information and documentation so that they can get approved by financial providers.. Expiry refers to the “valid until” or “expires” date shown on the form of ID (such as a passport or national ID card).

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.

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