Secured Commercial Charge

A Commercial Secured Credit Card Product allows you to issue credit cards funded from a secured deposit. These Payment Cards may be Virtual Cards available on your app or website, Physical Cards mailed to your Business Account Holder, or both.

In the Test Environment, you can create a Commercial Secured Credit Card Product from the Highnote Dashboard or with the CreateCardProduct mutation in the Highnote GraphQL API.

Commercial prepaid cards are used by US business account holders. Use the following mutation to create a US business account holder:

After creating an account holder, you can open an application to onboard them to your card product. Opening an application triggers identity verification processes. You can participate in the application decisioning process using Collaborative Application Decisioning.

In some cases, additional documents may be required to approve an application. For more information on collecting additional documents, see Request Documents for Application Review.

Use the following mutation to open an application for an account holder:

Financial accounts hold the balance for payment cards. To create a new financial account, pass the id of a verified application.

Financial accounts have an externalId variable field that allows you to tie the Financial account to an entity in your system. If you do not pass in an externalId, Highnote will generate one.

Use the following mutation to issue a financial account for an application:

Note: Secure deposits are an exclusive feature of Secured Commercial Charge card products. To enable the feature for your card product, contact support@highnote.com.

Secure deposits require an originated ACH transfer from a verified external account. Once the deposit is successful, the secure deposit will set a credit limit for the account holder.

Use the following mutation to initiate a secure deposit originated ACH transfer:

Once you have created a financial account, you can issue a payment card. By default, all payment cards start as virtual cards. After you issue a virtual card, you can create a physical card order if needed.

Use the following mutation to issue a virtual card:

Note: You can only submit one order for a given payment card. If the order is canceled or fails, you can retry the order for the same card. If the order is successful and you need another physical card, you must issue a new payment card.

After issuing a payment card, you can create an order for a physical card. When ordering a physical card, you can ship to the account holder's address on file or specify a different shipping address.

Physical card orders require:

• Card personalization details
• Shipping address
• Requested ship date
• Shipping method and signature requirements

Warning: Highnote recommends using the Card Viewer SDK to securely display payment card data and and reduce PCI non-compliance.

There are two methods for displaying payment card data on your website or application:

• Fetching the data from the Highnote API
• Use the Card Viewer SDK to ensure PCI compliance

To fetch payment card data from the API, use the following query:

Highnote provides the data necessary to create a statement for a financial account, which you can leverage to populate your own statement template and provide it to your customers.

Billing statement data is created on Financial Accounts and becomes available at the end of a billing cycle. For Credit Card products, the billing period end date may vary across Financial Accounts on your portfolio. Statement data is typically available within 48 hours of a billing period end date.

You can query the latest billing statement data for a Financial Account to generate the Account’s statement in the latestClosedStatement. Billing statements will only include posted transactions and the associated balances for a given billing period. Transactions for the Financial Account’s current billing period and their next, upcoming due date can be found in the currentOpenStatement.

When there is a balance due on the Financial Account, the currentAmountDue will be updated based on credits (e.g. payments, refunds) to the Financial Account between the billing period end date and the due date. You’ll need to reference the type of SecuredDepositCommercialCreditCardFinancialAccountStatement Snapshot to retrieve the current amount due, based on your Card Product. You can present this balance to your customer outside of the statement itself so they are informed on the remaining amount owed since their last statement was generated.

In the Test Environment, you can end a Financial Account’s billing period early so you can simulate a billing period’s statement without waiting for the billing period to end.

The new period must be at least 60 seconds in the future, and if the periodBoundary is not supplied, the statement endPeriod will be set to 60 seconds in the future.

In the Test Environment, you can roll over a Financial Account’s billing period to the next billing cycle so you can simulate ending and starting a new billing cycle for a Financial Account. Rolling over to the next billing period allows you test and view how the statement data for a closed billing period is calculated without waiting until the actual calendar day for the billing period to close.

After configuring your card product and simulating transactions, you can use the following features to further expand your integration:

• Create authorization controls to manage spending.
• Create a rewards program for your card product.
• Set up notifications to automate your integration.