Q3 2022 Product Update Release Notes | Finix

Here’s what we’ve shipped recently:

1. Developer Tools that help engineers integrate payments more easily

2. Dashboard and Reporting Improvements that save back office managers time and effort

3. Payment Operations Features that help software platforms manage transactions more easily and get to market faster

Developer Tools

We’ve enhanced existing developer tools and added new capabilities to help you integrate payments more easily:

• Normalized and human-readable error messages for transaction processing failures

• Expanded sandbox testing scenarios to trigger specific responses, such as bank account validation

• Publicly available status page to track API and dashboard availability

• Updated libraries and SDKs: Python, Java, Typescript/JavaScript

Dashboard and Reporting Improvements

We’ve revamped the Finix Dashboard and added new reports so you have more insight into your payments:

Finix's new dashboard landing page

• A new landing page (see image above) summarizing key payment metrics, so you can quickly see how your platform is performing.

• Dozens of usability and design tweaks to make the dashboard easier to use.

• In-app tutorial and embedded support contact form to help you find answers quickly.

• New reports can be pulled at the platform or individual merchant level, and are available via CSV download: authorizations, transactions, settlements, consolidated fees (including interchange), net profit, disputes win/loss, and more.

Payment Operations Features

We’ve built new, customizable merchant management tools so you can get to market faster:

• Token migrations let you move credit card information from other processors to Finix—currently available for Stripe and Braintree.

• PCI compliance management tools allow you to create payment card industry (PCI) self-attestation questionnaire (SAQ) forms for merchants on your platform (to be completed annually). Use the Finix API to prefill and send the forms to your merchants, and track form completion via webhooks or in the Finix dashboard.

• Customizable merchant onboarding forms allow you to start onboarding users quickly without using developer resources. Instead, use a Finix-hosted form that can be prefilled with customer information and customized to include your logo/primary color.

We’ve added advanced transaction management capabilities to our API so you can more easily manage fees and fraud:

• Buyer Fees (aka buyer-paid fees): Eligible merchants can charge their customers convenience fees, service fees, or rental fees to help cover the cost of processing card payments (as defined by the Visa Rent Program and other card brand rules).

• Card Type (aka BIN Lookup): Identify and screen out certain types of cards in order to manage fraud, compliance, or costs. For example, Finix has added a new card type parameter to our payments instruments resource to show whether a card is a debit, credit, or HSA/FSA card without you having to inspect the card’s BIN (i.e., the first six digits of a credit card number).

• $0 Authorizations to Validate AVS and CVV: We’ve long supported Address and Card Verification Checks (AVS and CVV, respectively) to help our customers lower interchange fees and reduce fraud. Recently, we began supporting $0 authorizations so our customers can review the AVS or CVV check status on a card without placing a hold on a customer’s card.

To learn more about Finix's API and dashboard, visit our solutions page or check out our documentation. One of our Product Managers, Oscar Barillas, goes into more depth on a few features included in this release here.