Card Modes
A card mode determines the funds that the card has access to.
Weavr MultiMulti Weavr Multi is an embedded finance solution that allows you to integrate financial services into your own application, providing a seamless experience for your customers. It enables you to offer managed accounts, managed cards, and transactions without requiring financial expertise. supports two card modes:
- Prepaid modePrepaid Mode A card mode where the card has its own balance and purchases are authorised based on this balance. Cards in prepaid mode can be topped up with funds and support transactions such as transfers and sends. If there are insufficient funds, purchases are declined until the card has sufficient funds. – the card has a balance and purchases are authorised on the basis of this balance
- Debit modeDebit Mode A card mode where the card does not have a balance of its own. Instead, debit cards are linked to a parent managed account and the system uses the linked account's balance to authorise and settle purchases registered on the card. Spend limits can be specified on the card via spend controls. – the card accesses the balance of a managed account
You can create virtual and physical cardsPhysical Card A payment card that is printed or embedded in wearables and sent to customers directly. Physical cards are created by first creating a virtual card and then upgrading it to a physical card. They are sent in an inactive state and must be activated by the card assignee before first use. in prepaid and debit modesDebit Mode A card mode where the card does not have a balance of its own. Instead, debit cards are linked to a parent managed account and the system uses the linked account's balance to authorise and settle purchases registered on the card. Spend limits can be specified on the card via spend controls..
You configure the card mode in the card profile to indicate how cards created using this profile behave. You can offer both card modes to your customers by configuring different card profiles in your application.
You cannot change the card mode after you create the card.
When you create a card using the Weavr MultiMulti Weavr Multi is an embedded finance solution that allows you to integrate financial services into your own application, providing a seamless experience for your customers. It enables you to offer managed accounts, managed cards, and transactions without requiring financial expertise. API, the card profile that you select determines whether the card mode is prepaid or debit.
Prepaid ModePrepaid Mode A card mode where the card has its own balance and purchases are authorised based on this balance. Cards in prepaid mode can be topped up with funds and support transactions such as transfers and sends. If there are insufficient funds, purchases are declined until the card has sufficient funds.
Cards using the prepaid modePrepaid Mode A card mode where the card has its own balance and purchases are authorised based on this balance. Cards in prepaid mode can be topped up with funds and support transactions such as transfers and sends. If there are insufficient funds, purchases are declined until the card has sufficient funds. have their own balance and can be topped up with funds. A purchase transaction is authorised only if there are enough funds on the card’s balance to cover for that purchase. If there are insufficient funds on the card’s balance, the purchase is declined until the card has sufficient funds.
Since cards in prepaid modePrepaid Mode A card mode where the card has its own balance and purchases are authorised based on this balance. Cards in prepaid mode can be topped up with funds and support transactions such as transfers and sends. If there are insufficient funds, purchases are declined until the card has sufficient funds. hold funds, they support transactions such as the 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. and sendSend A transaction type that allows sending funds to another identity's instrument or to a beneficiary. Send transactions may require Strong Customer Authentication depending on the destination and whether it's a trusted beneficiary. transactions, which you can use to move money between different instruments.
Debit ModeDebit Mode A card mode where the card does not have a balance of its own. Instead, debit cards are linked to a parent managed account and the system uses the linked account's balance to authorise and settle purchases registered on the card. Spend limits can be specified on the card via spend controls.
In contrast to the prepaid modePrepaid Mode A card mode where the card has its own balance and purchases are authorised based on this balance. Cards in prepaid mode can be topped up with funds and support transactions such as transfers and sends. If there are insufficient funds, purchases are declined until the card has sufficient funds., cards that use the debit modeDebit Mode A card mode where the card does not have a balance of its own. Instead, debit cards are linked to a parent managed account and the system uses the linked account's balance to authorise and settle purchases registered on the card. Spend limits can be specified on the card via spend controls. do not have a balance of their own. Instead, debit cards are linked to the parent managed account and the system uses 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.’s balance to authorise and settle purchases registered on the card.
You can restrict the amount of funds that are available to spend by specifying a spend limit on the card via the spend controls.
You can only use debit cards for purchases if the parent account has sufficient balance and the debit card is within its own limit. Otherwise, purchases are not approved. The sendSend A transaction type that allows sending funds to another identity's instrument or to a beneficiary. Send transactions may require Strong Customer Authentication depending on the destination and whether it's a trusted beneficiary. and 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. transactions do not support cards in debit modeDebit Mode A card mode where the card does not have a balance of its own. Instead, debit cards are linked to a parent managed account and the system uses the linked account's balance to authorise and settle purchases registered on the card. Spend limits can be specified on the card via spend controls. because these cards do not have a balance from which funds can be transferred.
A managed accountManaged Account An account held at a financial institution that can be created and managed through the Weavr platform. Each account has a balance where customers can hold funds. Optionally, an IBAN can be assigned to enable wire transfers to bank accounts outside of Weavr. can have an unlimited number of cards linked to it, while a card can only be linked to one account. All cards linked to a managed accountManaged Account An account held at a financial institution that can be created and managed through the Weavr platform. Each account has a balance where customers can hold funds. Optionally, an IBAN can be assigned to enable wire transfers to bank accounts outside of Weavr. share the funds available on the managed accountManaged Account An account held at a financial institution that can be created and managed through the Weavr platform. Each account has a balance where customers can hold funds. Optionally, an IBAN can be assigned to enable wire transfers to bank accounts outside of Weavr. on a first-come, first-serve basis.
You can only link a card to a managed accountManaged Account An account held at a financial institution that can be created and managed through the Weavr platform. Each account has a balance where customers can hold funds. Optionally, an IBAN can be assigned to enable wire transfers to bank accounts outside of Weavr. with the same currency.