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June 2023

July 4th, 2023 by Harsha M N

We work hard to ensure everyone who uses ZWITCH gets the best experience. Every day we take small steps towards developing new products, enhancing existing features, and improving the performance of our system. We also fix (the occasional) bug in the system.

Below is a list of new feature releases, product improvements, and bug fixes we made in June 2023.

📘

Note

  • Except for breaking changes, all other changes are backward compatible.
  • Currently, we work on a daily release cycle. We push changes to the production environment as they are developed. However, we will notify you about breaking changes, new feature releases, and major enhancements via email before they are released.

🚀 New Features

Below is a new feature we released in June 2023.

Accounts

Virtual Account used as Collection Tool - Add settlement Account

The only purpose of a virtual account collection tool is to collect payments. ZWITCH's Primary virtual account is used as a settlement account by default when a collection tool is created.

Now you can add the settlement account on which you wish the payment to be received.

📘

Note

If no settlement account is passed in the request the ZWITCH primary account is used

Shown below is a sample request and response to create a Virtual Account used as a collection tool.

{
  "type": "virtual",
  "name": "Anil Reddy",
  "email": "[email protected]",
  "mobile_number": "9900112233",
  "used_as": "collection_tool",
  "create_vpa": true,
  "metadata": {
    "order_id": "12345"
  },
  "kyc": {
    "state_code": "KA",
    "city": "Bangalore",
    "pan": "AAAPA1111A",
    "postal_code": 560010,
    "business_type": "individual",
    "business_category": "daily_wage",
    "contact_person": "Sunil"
  },
  "whitelisted_remitters": [
    {
      "account_number": "12345678901234",
      "ifsc_code": "ICIC0666666"
    }
  ],
  "settlement_account_id": "va_YI5rNlbeCoB0uhkA6dYPJVuOU"
}

{
  "id": "va_WBp3xiL6NAKO2Pxt20lN11UPD",
  "object": "account.virtual",
  "type": "virtual",
  "used_as": "collection_tool",
  "bank_name": "yes_bank",
  "name": "Anil Reddy",
  "mobile_number": "9900112233",
  "email": "[email protected]",
  "account_number": "36363651946830094",
  "ifsc_code": "YESB0CMSNOC",
  "vpa": "open20001759@icici",
  "additional_vpa": [],
  "whitelisted_remitters": [
    {
      "account_number": "12345678901234",
      "ifsc_code": "ICIC0666666"
    }
  ],
  "kyc": {
    "city": "Bangalore",
    "postal_code": "560010",
    "state_code": "KA",
    "pan": "XXXXXX111A",
    "business_type": "individual",
    "business_category": "daily_wage",
    "contact_person": "Sunil"
  },
  "customer": {
    "id": "cus_4lTsTUPCR6pBK5DWVBW1dOmif",
    "mobile_number": "9900112233"
  },
  "metadata": {
    "order_id": "12345"
  },
  "status": "active",
  "created_at": 1688453361,
  "is_sandbox": true,
  "settlement_account_id": "va_YI5rNlbeCoB0uhkA6dYPJVuOU"
}

🎉 Enhancements

Below is the improvement we made in June 2023 to our FD Account APIs.

The parameter fd_account_number name has been changed to account_number in order to maintain consistency in our Accounts APIs response.

Shown below is a sample request and sample response to create a Fixed Deposit Account.

{
  "type": "fixed_deposit",
  "linked_to_account_id": "sa_sbmmvY5ilOghrWpJDJys4TY2MMEC",
  "amount": 700000.45,
  "tenure_in_months": 24,
  "maturity_instruction": {
    "payout_frequency": "monthly",
    "auto_renew": "no"
  },
  "nominee": [
    {
      "name": "Geetha Reddy",
      "relation": "daughter",
      "address": "RGA Tech Park",
      "city": "Bangalore",
      "postal_code": 560037,
      "state_code": "KA",
      "date_of_birth": "2010-10-10",
      "guardian": {
        "name": "Seetha",
        "relation": "mother",
        "address": "RGA Tech Park",
        "state_code": "KA",
        "city": "Bangalore",
        "postal_code": 560037,
        "mobile_number": "9481184261"
      }
    }
  ],
  "device_data": {
    "latitude": 12.12,
    "longitude": 12.12,
    "ip_address": "121.122.1.1"
  },
  "metadata": {
    "some_data": 12345
  }
}

{
  "id": "fd_slzXW9ABlnYPkbUL3ALSXUr0X",
  "object": "account.fixed_deposit",
  "type": "fixed_deposit",
  "linked_to_account_id": "sa_sbmmvY5ilOghrWpJDJys4TY2MMEC",
  "amount": 700000.45,
  "tenure_in_months": 24,
  "maturity_instruction": {
    "auto_renew": "no",
    "payout_frequency": "monthly"
  },
  "nominee": [
    {
      "name": "Geetha Reddy",
      "relation": "daughter",
      "address": "RGA Tech Park",
      "state_code": "KA",
      "city": "Bangalore",
      "postal_code": "560037",
      "date_of_birth": "2010-10-10",
      "guardian": {
        "name": "Seetha",
        "relation": "mother",
        "address": "RGA Tech Park",
        "state_code": "KA",
        "city": "Bangalore",
        "postal_code": "560037",
        "mobile_number": "9481184261"
      }
    }
  ],
  "status": "active",
  "account_number": "20012201594461",
  "device_data": {
    "latitude": 12.12,
    "longitude": 12.12,
    "ip_address": "121.122.1.1"
  },
  "interest_rate": 6,
  "maturity_amount": 10614,
  "maturity_date": "2025-07-04",
  "settled_amount": 0,
  "closed_date": null,
  "metadata": {
    "some_data": 12345
  },
  "created_at": 1688454460,
  "updated_at": 1688454460,
  "is_sandbox": true
}