External Card Authorization

📘

Work in Progress

This documentation is still a work in progress, please share your comments and suggest edits to improve it.

When you are using your own banking services outside of our system but still want to use some of our modules, you can use the External Authorization Module for issuing whitelabel VISA cards and authorize the transactions in your system. The Account Creation and the Issuing and delivering cards process works the same and you can configure Billing and Limits.

Because of the risks involved in this operation, we need a collateral deposit based on how much a client usually authorizes in a given week to avoid costs related to defaulting.

Configuring the Authorizable Assets

The first thing to do to start authorizing transactions in your banking system is to set which asset will be the authorizable one in your instance. You can create a Custom Assets for that or using another one that you have available.

Setting up the card authorization limits

After you have created your custom asset and configured it as an authorizable asset in your instance, it's time to start issuing assets for the wallets. First take a wallet with a card associated with it and issue your authorizable asset in that wallet using the Custom Assets flow. If you want to destroy assets you can follow up the asset destruction process aswell.

After you deposited that balance, you'll be able to authorize card transactions for that wallet.

Handling Card Transactions

Card transactions for the external authorization module works just the same as the card transactions in any other way for BT Core. You'll receive postbacks for every transaction execution and the balance will automatically be reduced for that authorizable asset.

Liquidation Process

Every time an authorization happens, we take the user's balance related to the transaction and send it to a transitory account to be later paid to the card brand. In this process, every day Bit Capital will send the report from the last day(known as BASE2) for you of which transactions you should be paying today and if you custody BRL in this transitory account you could simply send a withdraw for us, in case is a custom asset, the amount of that asset in the wallet represents how much you already committed in authorizations.