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When architecting payment solutions, rigorous and extensive testing is not just beneficial, it’s imperative. In November of last year, a significant Federal Reserve processing glitch impacted around 900,000 payment transactions across three major US banks.

One of the most crucial ongoing discussions we have at Moov—and I suspect at most startups—is how to make decisions around priorities and resources.

If I were still using paper checks, I’d write the date as 2020, because the last few years have been a blur.

At Moov, when we design a new system, one of the first conversations we have is what communication methods it will utilize.

From a consumer’s perspective, debit and credit cards are relatively straightforward. You sign up for a card, and you use that card to pay for goods or services – either with money directly from your account (for debit card purchases) or with borrowed money that you’ll pay back (for credit card purchases).

It’s been said by many that “docs are the product” and that “docs are the most important part of the product.

Performance, reliability, and maintainability are essential elements of everything we build here at Moov. In design discussions, we pay particular attention to how our services are defined and how information moves between them.

For those uninitiated in the alphabet soup of terminology that fintech serves for lunch daily: KYC refers to the process of Knowing Your Customer.

The COVID-19 pandemic has forced us to re-examine daily life as we knew it. Because of this shift, fresh opportunities for innovation surfaced in many different sectors.

Founded in 1973, the SWIFT (Society for Worldwide Interbank Financial Telecommunication) network connects more than 11,000 financial institutions around the globe, enabling reliable wire transfers in a secure environment.

The Moov ACH Gateway is a customizable payment gateway that enables automated ACH operations including file uploading and downloading. When paired with our test harness, which acts as a financial institution, achgateway serves as the final puzzle piece for ACH transactions.

From currency converters to invoicing tools, the world of open source fintech is overflowing with interesting projects. We’ve put together a curated list of our favorites and hope you’ll add projects you love too.

The Moov ACH Test Harness project provides a configurable FTP/SFTP server to replicate real-world ACH file transfer scenarios like returns and changes.

The Moov Watchman project provides search functionality over U.S. trade sanctions lists, including individuals, groups, and companies legally forbidden to transact with.

The Moov Metro2 project offers an API with several operations for Metro 2 credit reporting files, including bidirectional conversion between plaintext and JSON formats.

The Moov Fed project provides search functionality over Fedwire and FedACH participant data, which includes financial institution routing information.

The Moov ACH project includes an API with several operations for ACH files, including bidirectional conversion between plaintext and JSON formats.

The Moov Wire project offers an API with several operations for Fedwire messages, including bidirectional conversion between plaintext and JSON formats.

The Moov ImageCashLetter project features an API with several operations for X9 files, including bidirectional conversion between ASCII/EBCDIC and JSON formats.

In this post, we explain what an ACH payment is, who the key players involved are, and provide resources for getting started accepting ACH payments.

Real-time payments (RTP) is a payments network owned by The Clearing House (TCH). RTP enables 24/7 real-time electronic payments in the US, meaning you can transfer and receive funds immediately over its network at any time.

The number one question I get about regarding the Moov open source libraries is, “How do these fit into my application stack?

The world of open source software (OSS) is booming. OSS dependencies live in every corner of the digital products we use daily, yet many projects lack a reliable maintenance and contribution plan.

Last week we hosted two conversations for the Moov community. The famous Cokie Hasiotis from Fintech Today joined us for happy hour.

We recently welcomed Zach Bruhnke the CEO/Janitor at HMBradley to be a speaker at our Moov weekly happy hour. Zach is a longtime member of the Moov community and fintech veteran.

How and when to use the Moov ACH library The Moov team was founded by industry veterans who have been dealing with legacy technology for decades.

The recap This month marked the first meetings of the Moov ACH and ICL working groups. Our first of many ongoing monthly meetings where community members come together and discuss how we can improve our open source projects.

Getting started Building ACH files is no small task. The sheer number of fields required is enough to make your head spin.

In Part 1 we covered how to update our README and GitHub Pages documentation. In this article, we’ll map out how to quickly and easily suggest changes to our API documentation.

The documentation for our open source projects is here to serve you, the community. We’re always interested in feedback from those using our open source libraries and incredibly thankful to anyone willing to contribute to them.