Our product and engineering teams have been busy over the past month delivering features to automate card and payment processes and enhance risk controls! Let’s dive in with some highlights:

• Automatic merchant ‘card-on-file’ updater for debit to Smart Card program transitions
• Take control of the PIN setting experience with our new Set Card PIN API
• Enhancements to the Account Closure API
• Smart Card overpayment and refund automation

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Automatic merchant ‘card-on-file’ updater for debit to Smart Card transitions

Bringing new card products to market is challenging, but Synctera simplifies the process by addressing the technological and compliance hurdles. For customers focused on speed-to-market, debit cards are often the preferred choice, as launching credit products involves additional regulatory complexities.

However, credit products like the Synctera Smart Card offer distinct advantages, including higher interchange rates, opportunities for end-users to build credit, and more.

With our latest release, Synctera improves end-user retention by enabling a seamless transition from a debit program to a Smart Card program. Using the Card Issuance API or the re-issuance function in the Console, customers can replace debit cards with Smart Cards. The updated cards automatically integrate with merchants as the new ‘card-on-file’ and sync with digital wallets, like Apple Pay and Google Wallet, providing a frictionless experience for end-users.

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Take control of the PIN setting experience with our new Set Card PIN API

PCI-DSS certified customers now have the option to use the new Set Card PIN endpoint for setting and managing end-users’ card PINs, offering greater flexibility than the current Set PIN card widget, which has limits to its degree of customization.

This update gives customers more flexibility when designing card and user-authentication processes. For example, a customer might require end-users to create a PIN for app access and may want to synchronize this app PIN with the card PIN. This approach offers a more seamless user experience and enhanced continuity across platforms.

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Enhancements to the Account Closure API

Back in our August Product Update, we announced the launch of our /initate_closure endpoint, designed to automate the process of closing end-user accounts. This month, we made several improvements to enhance its functionality and refine the closure process:

• If a Smart Card is linked to a demand deposit account (DDA) when the endpoint is called, the Smart Card will also be marked as “in-closing,” ensuring no new card activity can happen on the account. However, the account will only be closed after the end-user pays any remaining card balance.
• If the endpoint is called for accounts in a frozen or suspended state, a Case will be created so the Synctera Operations team can review the account closure.

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Smart Card overpayment and refund automation

If an end-user overpays their Smart Card balance or there is a refund on their account that brings their outstanding balance negative, customers now have the ability to configure automation that moves excess funds back to the linked DDA security account. This allows the end-user to spend or move their funds in other ways, such as with an ACH transfer.

If customers choose not to configure this automation, funds will remain in the Smart Card available balance and the end-user can spend them using their Smart Card.

Please reach out to your Synctera representative if you would like to configure this automation or learn more.