52 posts tagged with "Payment Run"

We have enhanced the Payment Fund UI component by introducing a new funding options selection screen. This update allows users to choose between funding a 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. manually or through the embedded 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. flow.

To enable customers to fund a 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. via manual 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., the Payment Fund UI component has been updated to include a mandatory reference field. Customers must provide this reference when submitting 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..

To ensure consistency across our APIs, the group_reference field in the Simulate Funding API endpoint has been renamed to reference.

The Simulate a 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. endpoint has been updated to remove unnecessary fields from the request payload, making requests more streamlined and efficient.

We've made improvements to the UBO declaration form, which is required for end corporate customers to complete as part of the 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. process.

We've added two new buttons to the Link Account and Payment Fund UI components for users manually linking a bank account or funding a 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.. Clicking these buttons now triggers two new events to confirm user interaction.

We've introduced additional styling customisation options in the Link Account, Payment Fund and 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. Authorisation UI Components to enable you to better align with your brand's design.

We have updated our 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. questionnaire to allow your customers to specify the currency they use for their projections and reporting.

As mentioned in our previous update, we are introducing another way for your customers to link an account and fund their payment runsPayment 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. to cover instances when their bank is not supported via 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.. This initiative involves a number breaking change to the current AIS, PIS and 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. Declaration UI Components.

We are deprecating the Linked Account Declaration UI component to streamline the loading process and simplify your integration with UI components.

We are introducing another way for your customers to link an account and fund their payment runsPayment 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. to cover instances when their bank is not supported via 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.. This initiative involves a breaking change to the current AIS and PIS UI Components.

We have introduced two new API endpoints to allow users to cancel and update 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. lines when a 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 created.

To enhance security during 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. authorization and to help end-users verify the correct 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., we have introduced a unique 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. ID in 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. Authorisation UI Component.

We've introduced a new authentication method that allows your users to log in via passcode. You can now embed this as a UI component, providing a secure and seamless login experience using a passcode.

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).