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Oct 24, 2023

6 months ago by Kranti Talluri

  • New features

    • We have added several new features to the Nium portal in sandbox environment including, global wallets view, reports for payout transactions, configure webhook events, invite new users to your sandbox, and transparency with chronometer in the transaction details. Read the announcement blog for more details.

    API breaking changes

    • Document details are required when onboarding in EU

      Nium must report the "documentNumber" associated with the individual stakeholder positions of corporate customers to regulatory authorities through various reports. Until now, clients were not obligated to provide stakeholderDetails.documentDetails in the eKYB process. However, starting January 1, 2024, stakeholderDetails.documentDetails will become a mandatory field for both the eKYB and Manual KYB procedures when the position corresponds to UBO, TRUSTEE, or PARTNER.

      Additionally, stakeholderDetails.kycMode, and stakeholderDetails.documentDetails.document will continue to be optional in the eKYB process when a searchID is provided, but they will be required fields when searchID is not provided for the manual KYB flow.

      See EU required Parameters and EU required documents for more details.

  • New features

    • If you are using the delegated model, we have improved the settlement report file to offer more comprehensive information for transaction matching. The new settlement file includes additional fields and is formatted with the pipe symbol as a delimiter, making it simpler to parse and handle. We're delivering the updated V2 version of the file to the same SFTP location where V1 was previously shared. Clients can take advantage of this enhanced file to improve their settlement processing. Detailed information on the format of the file is available in the Client settlement report guide.

    Enhancements

    • Ability to update name on card for corporate cards. We have enhanced Update Card Details V2 API which will allow customers or cardholders to update card data at individual card level including the name on card.
    • We have included new delivery options for EU & UK. In Add Card V2 API the issuanceMode field has two new options international_delivery_track, and international_delivery_track_sign.

  • New feature

    • Introduced a new API to retreive Account Ownership Certificate (AOC) for your customers. To download the account ownership certificate you can call the Account Ownership Certificate API.
      • Account Ownership certificate is a pdf generated by Nium to provide the details of the virtual account(s) assigned to the name of the underlying customer.
      • AOC are usually required by online market places or payment gateways for registration.
      • AOC document can be used by your underlying customers for providing account details for collections across different payment platforms.
      • Additionally, AOC are required for loan applications or when dealing with government agencies.

    Enhancement

    • Added transparency about timing of the interbank FX rate. In order to ensure that you know the exact time at which we obtained the last traded interbank FX rate being used in an FX quote, a new field called rateCaptureTime was added in the API response for creating a quote and fetching an existing quote. The rateCaptureTime field has the timestamp at which we got it from our rate service provider.