April 25, 2023

Payouts and Payins

New features

• Updated Fetch Remittance Life Cycle Status API with additional remittance statuses in its response. The new statuses provide granular information about each state of the transaction. The new statuses are:

  • INITIATED — This status indicates that the transaction is accepted for processing.
  • IN_PROGRESS — This status indicates that the transaction is undergoing compliance review.
  • RFI_REQUESTED — This status indicates that Nium's compliance has raised a request for information (RFI).
  • RFI_RESPONDED — This status indicates that the customer has responded to the RFI.
  • COMPLIANCE_COMPLETED — This status indicates that Nium’s compliance has completed its review and that the transaction is going to be sent to the beneficiary’s bank.
  • REJECTED — This status indicates that the transaction is rejected due to compliance reasons.
  • SCHEDULED — This status indicates that the transaction is scheduled and is going to be processed on the set date.

  The description of the new statuses is available in the statusDetails field of this API.

• Added the Saudi riyal (SAR) currency for the Payin use case of collections and funding through an international wire transfer.

Issuance and Cards

Enhancements

The response body of the Card Transaction Reversal webhook event type is updated to include the notification of additional transaction reversal scenarios. We now support transaction aging scenarios in addition to the merchant reversals.

Nium One platform

New features

Electronic Know Your Business (eKYB) identification process for onboarding US corporate customers.

The eKYB check is now available for onboarding US corporate customers for clients in all countries where Nium operates. Using eKYB, corporate customers can get approved soon after submitting their application. Applicants aren't required to upload documents, making this an automated process. See the US Corporate Customer Onboarding guide for more information about the implementation instructions of the eKYB process. Contact Nium customer support to get your template configured for eKYB to use this feature.

Enhancements

Updates to the Customer List report that can be downloaded from the UI portal.

• The following fields are added to the report:

  • Billing Country
  • Case Id
  • Client Hash Id
  • Client Id
  • Client Name
  • Compliance Region
  • Registered Date
  • Segment
  • Wallet Compliance Level

• The following fields are removed from the report:

  • Compliance Profile
  • Designation
  • KYC Status
  • Preferred Name

API breaking changes

We've introduced two additional required fields for onboarding corporate customers in the US.

• businessDetails.applicantDetails.additionalInfo.applicantDeclaration
• businessDetails.description

The required fields apply to Nium clients in all countries. Applications missing any of the required fields result in a validation error. The changes are effective July 1, 2023. Clients are required to collect a declaration from the applicant during the time of corporate customer onboarding for the eKYB and manual KYB processes. This update only applies to corporate customers in the US.

Clients are required to show the following text to the applicant and collect a click-to-accept agreement for the declaration.

"I certify that I am the authorized representative of the customer and all information provided and documents submitted are complete and correct. I have read and accept the Nium Terms and Conditions."

After the applicant accepts the declaration, they send a Yes value for the below field in the Onboard Corporate Customer API.

businessDetails.applicantDetails.additionalInfo.applicantDeclaration