Increase

Behind every swipe, tap, or online card payment is ISO 8583 — the protocol that keeps transactions secure and seamless worldwide. 🌍 In this article, we break down what ISO 8583 is, how it powers billions of payments, and why it’s essential for modern payments infrastructure. https://lnkd.in/e534Sdcq

As a parallel core for our bank partners, we take seriously the responsibility of reconciling the activity in our systems with cash movements at the Federal Reserve. Discover how we approach cash reconciliation to ensure seamless, programmatic alignment and maintain trust in every transaction: https://lnkd.in/gcQRisJQ

Congratulations to our partner Pipe for launching their embedded card program!

The Visa network has ensured high availability for over 60 years. Learn more about Visa’s evolution from manual authorizations to modern redundant systems, and how Increase mirrors these principles for reliable connectivity. https://lnkd.in/guPair8d

Traditional bank cores weren't built for financial technology use cases. They often operate with rigid data structures, offer limited visibility into transaction details, and lack robust, developer-friendly APIs. Enter modernized, parallel cores: Increase operates one for our bank partners, unlocking new possibilities. Learn why this matters: https://lnkd.in/gJ39s9hk

We're excited to announce Check Lockboxes! Now, you can create unique mailing addresses for each of your customers. When a check is mailed to these addresses, we’ll automatically process and deposit the funds. Learn more at: https://lnkd.in/gzZBfpe5

Fedwire closes at 7pm... but reopens at 9pm.

Typically, bank accounts have a single account number. This one-to-one mapping means reconciliation often needs to be done manually, as all activity is tied to the same identifier. With Increase, you can instantly create multiple account numbers for a single account and manage them programmatically. This unlocks many interesting use cases and allows you to create and manage your own ledger or use Increase as your system of record. Learn more: https://lnkd.in/gTSDBQWn

When building support for remote deposit capture (RDC), be aware of potential failures related to parsing the Magnetic Ink Character Recognition (MICR) strip of a check. In 2015, an extra digit (the number 6) was introduced to the MICR code to identify remotely created checks[0]. However, many banks and RDC tools are unable to process the MICR line when this extra digit is present, leading to unintuitive and often frustrating errors. Some RDC tools allow you to manually enter the MICR line, which can be helpful in these instances. However, others may not. If you’re depositing remotely created checks, watch for the extra digit 6. [0] https://lnkd.in/gV2dfFSy

If you’re operating an ACH integration, you’ll sometimes receive return requests beyond the allowed window. NACHA rules for late return requests require that you provide the receiving institution with evidence that the debit was authorized by the account holder. At scale, this process can be manual and toilsome. Luckily, we’ve built an API for responding to these requests that can automate this workflow. Learn more at: https://lnkd.in/gEpn23sn