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.
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).
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.
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 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.
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 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.
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.
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.
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.
