SmartCards (Secured)

Updated on 15 Dec 2023

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SmartCards (Secured)

Overview

This document outlines the step by step process flow of getting a secured smartcard in the hands of your customers, including compliance requirements for onboarding, application, account creation and funding, and card issuance.

Disclosure Requirements

When a customer onboards who will be issued a Smartcard, there are a few disclosures that need to be shown to and accepted by the user.

SmartCard Agreement - this serves as the deposit agreement and the card agreement. Synctera provides a template for this agreement.
Security Agreement - this is baked into our SmartCard Agreement template, so if you are using it, you will not need to draft additional language.
Authorization for Automatic Payments - Synctera does not provide a template for this, and it pertains to the terms surrounding your customers opting in and out of automatic payments. This is only required if you plan to offer automatic payment services to your customers.

Check out our Consumer or Business Onboarding solution guides for other product-specific requirements on disclosures - this document is not detailing requirements for other features you might offer in addition, such as ACH.

Solution Maps - Smartcard Disclosures.png

SmartCard Creation Flow

See our V1 Guides on Synctera Smart Cards, Credit Applications and Secured Charge Accounts for more details.

Solution Maps - WIP-SmartCard Secured 1.png

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