You wanted it – you got it. ASB will be delivering credit card feeds directly to New Zealand businesses using Xero from the 11th of September.
ASB and Xero announced a strategic alliance earlier this year and we’re beginning to see that partnership bear fruit. Credit card feeds will be the first deliverable from our work together and heralds a few other initiatives that are on the way.
From today, if you have an ASB credit card, you’ll be able to apply to have a feed delivered to your Xero business directly from the bank. These feeds will replace any Yodlee feeds that you may have been using until now. If you’re using a Yodlee feed or have indicated that you have an ASB credit card, you should receive an email over the next couple of days with instructions on how to transition to the new feed.
There are a few hurdles a financial institution has to overcome when putting direct credit card feeds in place. Credit card statement data is often generated from a different system within the bank, requiring a separate development effort. It’s also important that when the data is delivered to Xero, full credit card numbers are not transmitted. It takes a little more time to sort this out in comparison with standard bank account feeds so we’re really pleased that ASB has put in the effort for their customers.
We’ve been talking a lot with financial institutions this year, and we’re delighted that many of them seem eager to work with us. They are enthusiastic about making the lives of small businesses easier. ASB is demonstrating a real desire to take things forward. More information on the new feeds is available on their blog.