Transfer, Dashboard & card brand updates
Transfer updates
The following IDs have all been added to the transfer model:
sweepIDoccurrenceIDscheduleID
The sweep ID is present when the transfer represents a sweep generated by Moov from the wallet. The schedule ID provides a reference to the schedule the transfer was automatically created from. The occurrence ID provides a reference to the specific occurrence of that schedule.
Moov recently released a scheduled transfers beta. The new schedule ID and occurrence ID make it easier to filter and find scheduled transfers. See our scheduling API for more details.
In addition, the default statement descriptor on a sweep is now in the following format: swp_6d72dh. The default sweep statement descriptor can be overwritten by setting your own statement descriptor when initiating a sweep. See the API reference for details.
Mastercard settlement timing
Mastercard has updated their cutoff time for processing card payments. The cutoff is now 2 AM ET instead of 6 PM ET. Transfers created before the cutoff time are typically credited to a merchant’s Moov wallet the next banking day.
See our settlement timing guide for more information.
Dashboard bug fixes
- Fixed an issue where the capability status would be shown as “In Review” instead of “Pending” in certain situations.
- Fixed an issue where the search bar would be hidden if the search request by ID had no results.
- Fixed an issue where an error would appear instead of an empty result when searching for accounts.
Card brand updates
We’ve implemented the standard fall updates for card brands, including new interchange calculation tables.
American Express
We’ve implemented American Express’s new discount fees for utility merchants:
| Pricing | Threshold | Discount fees |
|---|---|---|
| Tier 1 | ≤$1,000.00 | 0.00% + $0.75 |
| Tier 2 | $1,000.01 - $5,000.00 | 0.00% + $1.50 |
| Tier 3 | >$5,000.01 | 2.30% |
Visa
We’ve implemented Visa’s interchange changes for the following programs:
New installment credential standard credit product for AP region:
| Interchange program | Fee |
|---|---|
| Premium Card - Base Fee | 1.85% |
Changes for corporate & purchasing fee programs for transactions from fleet & fuel merchants:
| Interchange program | Fee |
|---|---|
| Commercial Fuel Level 2 Data | 2.20% + $0.10 |
| Commercial Fuel Level 3 Data | 1.90% + $0.10 |
Two fee programs will no longer be supported:
| Interchange program | Fee |
|---|---|
| Corporate Card Fuel Level 2 | 2.20% + $0.10 |
| Purchasing Card Fuel Level 2 | 2.20% + $0.10 |