New Features: Card Issuance

Our native card issuance product is now out of beta. This means almost all new cards issued through Synapse are issued with our own, in-house processor.

Building this ourselves has given us better control of our stack. We can troubleshoot quickly and iterate on our product at a significantly faster rate than we could with a third party processor.

Here’s the first wave of new features made possible with our new processor:

Dynamic Transaction Limits

So far our issuance product only had limits that could be set at the client level, but now developers can set daily transaction limits at the card level as well.

Its a simple PATCH call on subnets/<subnet_id> API call.

{
  "preferences":{
    "allow_foreign_transactions": true,
    "daily_transaction_limit":1000,
    "allow_cash_transactions":false
  }
}

Along with limits, now you can enable/disable cash transactions as well.

Transaction Decisioning & Instant Auth

Developers can now use our Webhook Subscriptions to plug into transaction decisioning for a card transaction in real-time. This can allow developers to decline or fund transactions as they occur.

As you receive the webhook, either you can fail a transaction

{
 "decision": "FAIL"
}

or succeed it, if the account has enough funds to cover the transfer

{
  "decision": "PASS"
}

or you can even choose to fund a transaction with multiple accounts

{
  "decision": "PASS",
 
  "amount":
  {
     "amount": 23000, 
     "currency": "cUSD"
  },
  
  "funding_nodes":
  [
    {
      "node_id": "5beb506f6d7ceb002490631f",
      "amount": 
      {
         "amount": 15500, 
         "currency": "cUSD" 
      }
    },
    {
      "node_id": "5b5f58f61374e50151e51e85",
      "amount": 
      {
        "amount": 7500, 
        "currency": "cUSD"
      }
    }
  ]
}

Automated Billing Updater

If a developer chooses to, they can now also enable ABU for their end-users. If ABU is enabled, the card populates an abu_token like this:

{
    "_id": "5e385f31c04b781506c9c74d",
    "_links": {
        "self": {
            "href": "https://uat-api.synapsefi.com/v3.1/users/5d9337157ac0170ed4bfc170/nodes/5daae97675224d15331662ec/subnets/5e385f31c04b781506c9c74d"
        }
    },
    "abu_token": "589acd9ecb3cd400fa75ac06",
    "account_class": "CARD",
    "card_number": "4757",
    "card_style_id": null,
    "client": {
        "id": "589acd9ecb3cd400fa75ac06",
        "name": "SynapseFi"
    },
    "created_on": 1580752689516,
    "cvc": "***",
    "exp": "2024-02-02",
    "nickname": "My Debit Card",
    "node_id": "5daae97675224d15331662ec",
    "preferences": {
        "allow_cash_transactions": true,
        "allow_foreign_transactions": false,
        "daily_transaction_limit": 2500
    },
    "status": "INACTIVE",
    "supp_id": null,
    "updated_on": 1580752690020,
    "user_id": "5d9337157ac0170ed4bfc170"
}

By default, ABU is turned off. To enable ABU, you just need to reach out to us and we can enable it across your platform.

White-labeled support for Tokenized Digital Wallets

We are also finally adding support for tokenized digital wallets like Apple and GooglePay. Now end users will be able to add their cards to the digital wallet of their liking.

By default, tokenization support is turned off. Learn more about how to enable tokenization for your program here.

Fraud Score (in Beta)

We are also starting to propagate our fraud score and reasons for transactions. This product is still in beta and we are improving the predictions for next weeks, but now developers can see a fraud score and reason for the score on each card transaction as well. The information will be inside the meta object like this:

{
   "meta": {
      "fraud_score": {
         "reason": "SUSPICIOUS_ACTIVITY|PREVIOUS_DECLINES",
         "score": 0.444
      }
   }
}

Data Enrichment 2.0

We are also starting to rollout our new data enrichment product. In next few weeks, we will write a standalone blog post for it since there is a lot to unpack here, but just like fraud_score, the enriched data is located inside meta as well. Now we return a facilitator_id and location_id as well to help to add more context to the transaction.

We are also providing a 2 business day SLA on enrichment as well. If we are unable to automatically enrich a transaction, we will review and manually enrich the data.

{
   "meta": {
      "enriched_info": {
         "category": "transportation",
         "entity_id": "5bde7b198ddd931c7ee7d0e4",
         "facilitator_id": "5e37d8ded0089eb81297627d",
         "location_id": "5e37d93245738559f6073b16",
         "status": "REVIEWED"
      }
   }
}

If you are not a current customer and are interested in learning more, please contact sales@synapsefi.com.