February '24 updates: Instant Payment optimization, Cancel Transfers, and Book Transfers

This Changelog post details the updates made to the Newline Platform in February, 2024.

What we launched

• Released our cancel a Transfer endpoint, which now allows for quick error resolution before payment execution!
• Updated our docs to include the book_transfer payment rail, which allows for quick payments between Customer-managed, liability general Synthetic Accounts.

What we improved

• Optimized our Instant Payments eligibility check flow to reduce the total time for payment execution by 70%.

Why these matter

• Optimizing our Instant Payments flows supports Client use cases where quick counterparty eligibility and Transfer execution are necessary to their business case; for example, micro-credits and debits as a form of Account Validation.
• Enabling a cancel Transfer function empowers Clients to quickly resolve incorrect or invalid payment submissions to Newline, preventing downstream error handling or network errors.
• Book Transfers allow Clients and Customers to easily move assets between their accounts on Newline, making our platform flexible to both originated Transfers that have internal or external impact.