API Suite - March 2022 Release Notes Summary

Summary of changes for the API Suite functional release for March 2022

Settlement Notification
When settlement has not been received by the payment release date minus one business day, a new settlement webhook is delivered back to the client. Information included:

Customer ID
Batch or Order ID (API can be initiated by Batch or OrderID)
Date the funds were received
Value Date
Release Date
Settlement currency
Total settlement amount
Settlement amount received
Remaining settlement amount (when the settlement received is not for the full amount)

Chinese Yuan Renminbi (CNY) Payments
A new validation rule has been added to the payment creation process to require the Beneficiary phone number when the payment currency code is set to CNY. If not provided the payment will not be accepted. This update is to ensure payments are processed successfully and not rejected by our banking partner.

Regulatory – Canadian AML
The Government of Canada has introduced new data requirements for payments sent into and out of Canada. This is a result of changes to the Proceeds of Crime (Money Laundering) and Terrorist Financing Acts.

Details on the new requirements can be found in the Canadian Payments page.