Account-Based Services
The wallet is a Fiserv-issued Demand Deposit Account (DDA) issued through a sponsor bank, with an attached debit card. Funds reside in the participant's account rather than in a balance that your platform holds and administers.
Account Capabilities
| Function | Description |
|---|---|
| Receives | Payouts from your platform, settled internally rather than over an external payment rail. |
| Holds | Funds in an account held in the participant's name and available for immediate use. |
| Spends | Spend the funds anywhere the card network is accepted, and they are drawn directly from the account. |
| Reports | Balance and transaction history |
Cards are available in virtual, physical, or both formats, based on your platform's configuration. Virtual cards become available upon account creation, enabling participants to access and spend as soon as their first payout is received.
Account Lifecycle States
| Status | Description | Eligible for Payouts |
|---|---|---|
| Pending | Requested and still completing account opening requirements | No |
| Active | Open and fully usable | Yes |
| Suspended | Temporarily restricted due to compliance review, fraud indicators, or platform action | No |
| Closed | Permanently closed by the participant, platform, or regulatory requirement | No |
Commerce Hub for Platforms consolidates account status, card status, and any applicable restrictions into a single payout eligibility status. Your platform receives updates whenever that status changes, enabling payout decisions based on current participant eligibility and reducing failed payout attempts.
Account Opening Requirements
Some participants may need to provide additional information to satisfy an account-opening requirements beyond the information collected during participant onboarding.
Fiserv works with your platform to configure an appropriate onboarding experience based on your business requirements. Consider these requirements when designing your participant experience.