The Way4 Payment Methods API now includes a specification for issuing cards and accounts, allowing any limit available in the system to be set and managed via REST API. Limits can be configured by the issuer or the end user through a mobile banking app or digital wallet. Previously, limits could only be set through Web Services or UFX; now, this feature is also available in the new REST API interface.
Way4 supports three main categories of limits:
- Transaction limits:
- By transaction type: for example, limits can be applied to cash withdrawals, ATM transactions, or online purchases.
- By region: Way4 enables to restrict transacts in specific countries.
- By merchant category: limits can be placed on transactions in certain categories like gambling, hotel bookings, or dining.
- By transaction conditions: for instance, magnetic stripe transactions may be declined if the terminal supports EMV chip transactions.
- Time-based limits: for example, restrictions can be placed on the number or total value of purchases within a day or month.
- Suspicious behavior limits: for instance, if several large transactions are made within a short period, the system may require additional authentication or temporarily block the card.
Way4’s response to exceeded limits depends on the type of limit and system settings. The main response scenarios are:
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Transaction decline:
- Negative response code: if a transaction exceeds the set limits (by amount, transaction count per day, or cash withdrawal), the system will automatically decline it with the relevant response code, such as:
57 — Transaction not permitted to cardholder.
61 — Exceeds withdrawal amount limit.
- Immediate rejection: the transaction will halt and the user will receive a decline notification through the terminal or app.
- Negative response code: if a transaction exceeds the set limits (by amount, transaction count per day, or cash withdrawal), the system will automatically decline it with the relevant response code, such as:
-
Fee or penalty application:
If a limit is exceeded, the transaction may still go through, but with an additional fee. This can include fees for exceeding cash withdrawal limits or making frequent transactions within a short period. -
Access restriction for certain services:
- Once a limit is reached, the system can automatically restrict certain types of transactions temporarily or permanently (for example, cash withdrawals or online transactions).
The Way4 REST API offers a more flexible, convenient, and secure way to manage and configure limits, benefiting our client banks, processors, and fintechs, as well as their end users.