New in November: Card Tracking, Card Reissuing, Statements Updates and more
November brings exciting news! This month, we have some fantastic updates that will empower you to improve the experiences you deliver to your customers.
We're delighted to announce updates to our card functionality including the ability to easily access tracking numbers and reissue cards with the same PAN and PIN. We're also embarking on a journey to revamp our statements experience. Being mindful of the regulatory impact of generating accurate statements for our bank partners while also aiming to create a positive user experience for end customers, we are rebuilding our statements functionality to make generating statements and updating their content a smoother process for you, with less reliance on Treasury Prime.
Looking for more updates? Check out the Changelog.
Card tracking numbers
You can now retrieve the tracking number for specific cards ordered for end users. Simply use the new 'tracking_number' field in the Card Fulfillment object. Just keep in mind that this field is available only for shipping methods that provide tracking numbers. Please note that USPS Standard, the most commonly used shipping method, does not offer tracking numbers.
Reissuing cards with same PAN, PIN
Exciting news! You are now able to reissue debit cards with the same PAN and PIN numbers. To make this happen, just use the new 'reissue_pan_from_card_id' field in the Card object. These reissued cards will have the same PAN and PIN numbers but will have new CVV and expiration dates.
Reissuing a card is preferable when a card is damaged or about to expire. However, if a card has been compromised, lost, or stolen it is best to create an entirely new card and PAN. In certain instances including in the case of a lost, stolen or compromised card, where there is a greater risk for fraud and nefarious activity, your bank partner might require re-issuing a new card and PAN.
We’re making improvements to our Statements experience to make the functionality more efficient. These improvements will reduce dependence on Treasury Prime and empower fintechs to customize their statements — all while enabling sponsor banks to ensure statements generated meet regulatory standards.
The first wave of Statements improvements took effect for statements generated on 11/02/2023 for the October 2023 period. The changes include:
- The Description field in the Interest section is now labeled as "Interest Paid" instead of "Interest".
- Replaced "Starting Balance" with "Beginning Balance" in the Account Activity section.
- Eliminated unreadable transaction types from our sample statements in order to enhance their readability and make them similar to statements generated in production.
- Removed “N.A.” as the default part of the bank’s name in sample statements to accurate represent a bank’s respective charter.
Stay tuned for more updates to our Statements functionality.
Network Transfers in Developer Dashboard and Bank Console
We’ve added a Network Transfers page to the Developer Dashboard and Bank Console. This means that OneKey Banking customers and their sponsor banks can now search and view Network Transfers directly from the Developer Dashboard or the Bank Console in a safe and secure manner.
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