<New feature, separately licensed>
Now corporate card issuers have more flexibility and convenience when they reassign cards from one corporate account to another. This feature benefits issuers of fleet or meal cards the most. It saves time on logistics as well as costs of the production of contactless chip cards.
Possible use cases include:
-
If your contract with a company has been renewed (probably with updated payment terms) and the cards will be used by the same cardholders, but their transactions made from the new contract date should be recorded under the new contract.
-
The cards are being moved between different companies who are members of the same corporate group but have independent contracts with the fleet cards operator.
We have enhanced the existing functionality so that the issuer can choose which card attributes to move from one account hierarchy to another within Way4. The choice may include card settings such as card status, usage limiter thresholds, and current counters and classifiers. The enhanced attribute inheritance simplifies relocation and administration of cards with processing histories, and removes the need to re-setup the relocated cards manually.
From the date of the changeover, all new transactions made with a transferred card will be processed under a new accounting contract. Transactions made with this card before the changeover will be recorded under the previous accounting contract, including reversals and transactions that were processed with some delay.
Please note that this functionality works for ordinary cards personalized with cardholder’s names embossed/encoded on the plastic. We are working to enhance card relocation functionality also for instant cards.
We have also released a new set of Web Service APIs that enables third-party systems to send card relocation requests to Way4. This only applies to fleet cards. The external requests can come from the fleet issuer’s CRM, web portals, mobile apps and other custom interfaces. These web services allow an issuer’s clerk to relocate a fleet card, to schedule the relocation for a future date, to cancel a relocation and to provide a list of previous relocations for selected contract or application. Way4 automatically checks if the requester has rights for card relocation management.
Intelligent hierarchy changeover for merchant contracts and devices is already available.