PaymentVision v.5.20 is now available in production. The purpose of this release is to add a set of new modes to our Recurring Payment Adjustment Application (Automatic Payment Extension) and fix 1 issue (UserDefinedTwo).
Automatic Payment Extension
Automatic Payment Extension is a set of new modes within our Recurring Payment Adjustment Application that will automatically extend an automatic payment until the balance is paid in full.
How does it work?
- Create an installment recipe
- Associate it with a transaction series
- PaymentVision will extend the series until the balance is paid in full
How to create an installment recipe?
PaymentVision has added PersistInstallmentRecipe as a new property within the installmentSchedule object for use within our PreviewInstallmentSeries request method. Setting this property to true will record the installment recipe and return an InstallmentRecipeIdentifier.
How to associate an installment recipe with a transaction series?
PaymentVision has added InstallmentRecipeIdentifier as a new property within the transactionSeries object for use within our MakeIDBasedTransactionSeries request method. Populating this property will associate the transaction series with an installment recipe.
How does PaymentVision extend a transaction series?
PaymentVision has added two new modes to its Recurring Payment Adjustment Application that will check the account balance before processing the last payment within a series and extend the series if the amount is insufficient to pay off the balance. One mode will use the same amount as the last payment. Another mode will adjust the amount to equal the balance in the event that the balance is less than the payment amount. In both modes, the Recurring Payment Adjustment application adds one more payment to the series and uses the installment recipe to establish the payment date.
UserDefinedTwo is an existing property of the achPayment, creditCardPayment and cashPayment objects within PayAPI that enables metadata to be associated with a transaction. An issue was preventing it from being included as part of the transaction record and that has been resolved as part of this release.