New features
🏦 With Multiple Accounts, company account holders can create additional accounts without repeating onboarding or Know Your Business (KYB) processes.
Improvements
🚚 We've added LaPosteTracked as a new shipping method for international card deliveries. This gives cardholders outside of France a reliable way to track their card's delivery from our printing hub.
📄 We've made it easier to reconcile payments by allowing you to use structured and unstructured formats for invoice references in transactions. For SEPA Credit Transfers, use the labelType field to choose the reference standard and the label field for the value. When you retrieve transaction data, this value will be in the transaction.label. You can also specify the ogmVcs type for Belgian OGM VCS references.
Verification of Payee (VoP) updates
⚠️ The following updates are currently available in our Sandbox environment and will be released to the Live environment on October 9.
💸 initiateCreditTransfers endpoint updates
- We'll automatically verify the beneficiary's details and display the results on the consent screen for single SEPA Credit Transfers without a
beneficiaryVerificationTokenin theinitiateCreditTransferscall. - You can now include a
beneficiaryVerificationTokenwhen initiating a credit transfer instead of providing full beneficiary details. Account membership rights remain the same as those described in beneficiaries permissions when using tokens. - A new
beneficiaryVerificationResultsfield has been added toInitiateCreditTransfersSuccessPayload.
📅 scheduleStandingOrder endpoint updates
- When calling the
scheduleStandingOrdermutation, we'll automatically verify the beneficiary's details and display the results in the consent screen. - A new
beneficiaryVerificationResultfield has been added to theScheduleStandingOrderSuccessPayload.
📒 You can now retrieve the beneficiaryVerificationResult using the transaction, transactions, standingOrder, and TrustedBeneficiary queries.
VoP rollout
📥 Starting October 5, we'll automatically handle all incoming VoP requests from other Payment Service Providers (PSPs). Beneficiary details will be verified, and the result will be returned to the PSP before funds are transferred into a Swan account. No action is required from you.
🃏 On October 9, company accounts will be opted out of VoP for bulk credit transfers by default, while individual accounts will be opted in. You can change the setting for bulk transfers with the updateAccountSettings mutation, once the verifyBeneficiary mutation is implemented.
📡 On October 9, the verifyBeneficiary mutation will be available to verify beneficiary details before initiating credit transfers. Use the save parameter to add a trusted beneficiary when the returned token successfully initiates the credit transfer.
📩 On October 19, the save parameter of the verifyBeneficiary mutation will default to false.
Upcoming breaking changes
🛑 Starting October 9, the initiateCreditTransfers mutation will return a new rejection reason if the BeneficiaryVerificationToken was already used to initiate another credit transfer.
✔️ Starting October 31, the beneficiaryVerification query will be deprecated. Use the verifyBeneficiary mutation instead to ensure uninterrupted service.