Overview
The Confirmation of Funds API allows Card-Based Payment Instrument Issuers (CBPIIs) to verify that a NewDay customer has sufficient funds in their account by submitting a funds confirmation consent request. Access is granted only with the customer’s (PSU’s) explicit consent. Customers can manage this consent, including checking and revoking their confirmation status.
For more details, refer to our the Confirmation of Funds API Reference.
Benefits
Innovation
Supports the development of innovative payment products for consumers.
Enhanced User Experience
Provides a seamless and secure payment experience, allowing customers to efficiently manage their finances.
How it works
Before starting, ensure you meet regulatory requirements as an CBPII:
- 1Regulatory Approval: Register with your local authority as an CBPII, such as the Financial Conduct Authority (FCA) in the UK via their website.
- 2Open Banking Directory: Enrol with the UK Open Banking Implementation Entity (OBIE) and upload valid transport and signing certificates to the Directory.
- 3NewDay Registration: Register with NewDay via the Dynamic Client Registration (DCR) endpoint to gain API access.
You may also like:
Was this page helpful?