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Lithic Product Update: November 2022

Lithic Product Update: November 2022

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Welcome to our monthly product update, where you can learn about new features, company highlights, and upcoming releases.

In this update: faster timelines for physical cards, improvement to list transactions requests, settlement API closed beta, and several new guides and resources.

🗓️ Reminder: Based on customer feedback, we are rolling out a few breaking changes to our API in Q1, with changes coming to the sandbox environment first on January 4, followed by production on February 8. Read this guide for more details on the upcoming changes.

Product Highlights

Settlement API Closed Beta: We kicked off the closed beta for our new Settlement API, which enables you to retrieve your total daily settlement for a given report date and a transaction-level breakdown of your daily total settlement. If you’re interested in participating, contact your account manager.

List transactions requests Improvement: List transactions requests will now return transactions across the entire program by default. Previously, those requests only searched customers’ default accounts instead of all accounts enrolled under the program (more detail about these concepts here).

Upcoming Releases

Network-provided risk score in ASA: We are currently beta testing the addition of transaction-level risk scores provided by the card networks to the ASA message. This provides users with a valuable signal of the network’s view of the risk associated with a given authorization.

We are planning for a public release in the coming weeks, and availability of this data may vary by card program. Contact your customer success manager for more information on how to enable this feature once it’s available.

New Resources

Physical Card Program Setup Guide: A guide on how to set up a physical card program using Lithic’s APIs.

Guide to maximizing interchange: A guide on maximizing interchange that provides actionable tips for optimizing interchange on four common types of card programs.

Explainer on Bank Identification Numbers: A primer on Bank Identification Numbers (BINs) with insight on how they work and how they can impact your card program.