October 2024 Changelog

James Armstead · November 20, 2024

Product

The last quarter of the year got off to a great start with the release of Token Intents and Bank Verification enrichment. Read on for more information.

Token Intents

We released Token Intents, short-lived resources that can take card details, including CVC, directly from Elements for the purpose of authorization. These token intents allow merchants to authorize the received card details (within a 48-hour window) without first needing to create and store a token in the Vault. If the authorization is successful, merchants can convert the token intent into a token, removing the CVC and staying PCI compliant.

Customers will see a few benefits from integrating token intents into their workflows. First, they’ll have up to 48 hours to authorize a card, which is especially helpful in the case of processor downtime. Merchants can capture the card details when the customer is ready to purchase, and then process when the PSP is operational again.

Likewise, customers will no longer have the worry or expense of tokenizing and storing invalid customer credit card information. Only the cards that are successfully authorized will now be tokenized and stored; Those that fail will automatically expire.

To learn more about Token Intents and start building them into your workflows, access the documentation here.

Bank Verification

We have also optimized the experience of payments through ACH, a tried-and-true method that often offers lower fees for merchants. We released the Bank Verification Enrichment, a service that checks whether a bank account is real and if it can be charged. This service works for both pay-ins and payouts.

For example, Fintechs and marketplaces can use Bank Verification Enrichment to check if they can pay out to a certain bank account. While subscription companies may instead want to use this to verify if a bank account is valid to use for a subscription payment.

Learn more or start using this enrichment today.