Card Processing

Introduction

Card Processing (also called Interchange Processing) pushes/pulls funds for external debit or credit cards. Interchange Transactions are near-instant, and thus much faster than alternative transaction methods. However, they expose the platform to chargeback risk and are generally more expensive than ACH transactions, especially for larger amounts, as their cost (with the exception of Push-to-Debit) is in part based on a percentage of the transferred amount.

Debit Card Processing vs Credit Card Processing

Debit card processing may be preferable over credit card processing for:

  • Funding Deposit Accounts: Use of a credit card to fund a deposit account might be considered a cash advance by some credit card companies (leading to the credit card company charging fees for your end-user).
  • Purchasing Cryptocurrencies: Some credit card companies do not allow users to purchase cryptocurrencies.
  • Lower Transaction Fees: credit card pulls are more expensive than debit card pulls.

What We Currently Offer:

  • Debit Pull: Pulling funds from a debit card
  • Credit Pull: Pulling funds from a credit card
  • Push to Debit: Pushing funds to a debit card

Coverage (Networks We Currently Support)

  • Visa
  • Mastercard
  • Some smaller networks such as STAR, Pulse, Accel, and NYCE.

Transaction Node Type: INTERCHANGE-US

Steps to Initiate a Card Push or Pull Transaction

  1. Make sure your controls (what you are allowed to do in our system) allow for at least one of our card processing transactions.
  2. Have an account owned by a user with SEND-AND-RECEIVE permission and who is not a match in one of our sanctions lists click here for a guide on how to check for this.
  3. Link the target external card to our system. Please look at Linking a Card for more information.
  4. If all the steps above have been successfully executed, you can now create a transaction.
    • For Pulls you will input the node ID of the linked card in the node_id path parameter and the desired recipient account in our system in the call payload.
    • For Pushes, you will input the node ID of the Synapse-hosted account you wish to push funds from in the node_id path parameter and the node of the desired linked card in the call payload.

Don't Store or Transmit Card Numbers

Storing or transmitting card numbers requires platforms to be PCI compliant. We recommend using our Interchange UI and making the relevant API calls inside the app or website to avoid having access to card data. Please keep in mind the following considerations when using our Interchange UI:
• OAuth the user on your server, but only with scope NODE|GET.
• Send this oauth_key to the user's app
• Do full_dehydrate=yes from the app

Sub-Resources

Return Codes

Mitigating Risk Card Processing

Card Processing


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