Product Updates

Announcing Quiltt's Real-Time Balances: The Key to Seamless Payments

Ruben Izmailyan
Co-Founder, CEO
February 19, 2024

At Quiltt, we're committed to streamlining financial operations for businesses that leverage open banking data. Today, we're thrilled to announce our latest feature: Real-Time Balances. This feature tackles a common pain point in open banking payments – the risk of working with outdated account balance information.

What are Real-Time Balances?

Normally accounts connected through an aggregator like Plaid or MX provide balances that may be several hours to several days out of date. This makes these balances unsuitable for payment workflows, without handling provider-specific balance refresh flows. Quiltt’s Real-Time Balances solves this problem by providing on-demand, up-to-the-minute balance information for a user's connected bank accounts through a single straightforward API interface. With Quiltt, you always have the most accurate financial picture at your fingertips, no matter the provider under the hood.

Why are Real-Time Balances Important?

  • Seamless Payments: Say goodbye to declined transactions due to insufficient funds. Real-Time Balances ensure you have the precise data needed to initiate successful payments.
  • Informed Decision-Making: Make business-critical financial decisions with confidence, knowing that you're working with the most current balance information available.
  • Enhanced Customer Experience: Prevent payment failures and deliver a frictionless experience that builds trust and loyalty with your customers.

How Quiltt Makes Real-Time Balances Easy

We've designed our Real-Time Balances feature to be intuitive and powerful:

  • Webhooks Integration: Get notified instantly when an account balance changes, thanks to our seamless webhook integration.
  • Straightforward Interface: Requesting and using real-time balance updates is effortless within Quiltt's user-friendly platform.
  • Simple API Calls: Initiate balance refreshes quickly and easily through our state-of-the-art API.

Upgrade Your Payment Operations

Quiltt's Real-Time Balances feature eliminates the guesswork in open banking payments, empowering you with accurate financial data whenever you need it.  This translates into fewer failures, smarter decisions, and happier customers.

Are you ready to experience the power of real-time financial data? Contact us today to learn more about Real-Time Balances and revolutionize your payment processes with Quiltt!

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