Velocity limits

Velocity limits can be used to control transaction spending*. It defines the aggregated amount and the total number of transactions** which can be performed by a cardholder within a specified time***. Like balance limits, velocity limits are also linked with the card product. Cards associated with the card product shall follow the velocity limits tied to that card product. 
* What are transaction spending controls? For example, allow 50 USD per authorization or 15,000 USD spending per month.
** What is total number of transactions?  For example, allow upto 5 authorizations per day. Also known as transaction frequency.
*** What is specified time? For example, specified time can be daily, monthly, yearly, or lifetime.
Velocity limits can be applied to the card product at the time of creation of the card product or the velocity limits can be modified later as well.
Create a velocity limit
You can create a new velocity limit by sending a POST request to /velocitylimits endpoint as given below.
​POST /velocitylimits​
{
    "description": "The velocity limit - withdrawals",
    "type": “PER_TRANSACTION”,
    "min_amount": 1500,
    "max_amount": 1500,
    "currency": "USD",
    "frequency": 3,
    "period": "DAILY",
    "transaction_scope": [
        "WITHDRAWALS"
    ]
}
Retrieve velocity limits
The nCore platform offers following retrieval options for velocity limits.
Retrieve all velocity limits
You can retrieve all existing balance limits by sending a GET request to /velocitylimits endpoint shown below.
​GET  /velocitylimits​
Retrieve a specific velocity limit
You can retrieve a specific velocity limit by sending a GET request to /velocitylimits/{id} endpoint, where id is the balance limit id.
​GET /velocitylimits/{id}​
Update velocity limit
You can update the existing velocity limit as required. Send a PUT request to /velocitylimits/{id} endpoint to update a velocity limit. Include the limit ID as a path parameter to indicate the velocity limit which is required to be updated.
​PUT /velocitylimits/{id}​
Link velocity limit with a card product
You can link a velocity limit to your card product by sending a POST request to /cardproducts/{id}/velocitylimits:link as given below.
​POST /cardproducts/{id}/velocitylimits:link​
Unlink velocity limit from a card product
You can unlink a velocity limit from your card product by sending a POST request to /cardproducts/{id}/velocitylimits:unlink as given below.
​POST /cardproducts/{id}/velocitylimits:unlink​
Retrieve linked velocity limits
You can retrieve all velocity limits which are linked with your card product. Send a GET request to /cardproducts/{id}/velocitylimits endpoint as shown below.
​GET /cardproducts/{id}/velocitylimits​

Balance limits

Fees

Last modified 1yr ago