Weavr product updates: UK faster payments, more spend rule options, Emoji-friendly card names, Forex configuration, Twilio customer authentication, and more!
Product updates! Two weeks after announcing our Series A and sign-posting our upcoming launch in the US, we’re proud to share what our dev team have introduced this month, as well as providing a look at what will be coming soon.
- Spend Rule – Allowed Merchant Countries
You can now specify an allowed – or blocked list – of countries from where the user can make purchases. The card purchase country is determined from the merchant’s registration country.
- Spend Rule – Single Card Purchases
You can now specify the minimum and / or maximum amount of a single card purchase via the Multi API. Card purchases that are below the minimum amount or above the maximum amount will be automatically declined. This control can be configured per card.
- UK Faster Payments – Inbound and Outbound
GBP managed accounts for both consumers and corporates will be enabled to receive funds from 3rd parties, as well as send funds to 3rd party bank accounts using UK Faster Payments.
- Card Purchase Simulator – Forex Configuration
You can now simulate card purchases that include a Forex fee and / or a Forex padding via the Multi portal. This option has been added to the “Purchase by Card ID” and “Purchase by Card Number” simulators.
- Authorisation Webhook – Additional Forex Information
Forex padding is now available as part of the card authorisation webhook. This field is included when the purchase currency is different from the card’s currency and therefore Forex is required.
- Card-Friendly Names – Emojis Support
Your customers can now include emojis in their card friendly names to further personalise their cards ✨
🎁 Coming Soon
- Push Notification Authentication – via Twilio Authy
You can opt to enable your customers to use Twilio Authy to comply with Strong Customer Authentication requirements. Twilio Authy push notifications remove the need for users to input one-time-passwords received via SMS and, instead, approve or reject actions via the mobile application.
- Flexible KYC Flows
When onboarding Consumers, you can opt to ask your customers to provide base level due diligence level KYC details only, allowing for up to €150 per card, and optionally upgrade their identity later with full KYC details.
Consumers onboarding with only simplified due diligence level KYC details can create managed accounts and cards, as well as execute transactions, within basic limits and restrictions. To remove these restrictions, Consumers would need to complete the full KYC process.