Overview
Applicability
This functionality allows partners to onboard merchants to the PXP Financial Acquiring Service. The API allows submitting:
- a subset of data of a new merchant for pre-screening
- the data of a new merchant, together with shops, bank accounts and other related entities
- documents associated with the merchant or any of its sub-entities
- additional shops or other related entities for a merchant that has already been onboarded.
Restrictions
This iteration of the Onboarding API focuses on frontoffice/processing and thus only supports a subset of the data that PXP Financial requires. The next iteration will extend the capabilities of the API to cover backoffice/settlement as well.
Resources
Prescreen Merchants
A prescreen merchant entity contains a subset of merchant data needed for pre-screening purposes by the PXP Financial risk team. Those entities are created when a partner transmits a potential merchant (and its shop) via POST /prescreen-merchants.
Merchants
The merchant as an entity represents the combination of:
- the details of the legal entity
- a specific type of business (expressed in terms of a specific MCC)
- the settlement setup: all transactions for this merchant will be settled together and to the same set of bank accounts (currencies).
The merchant is the root entity in the API. All other types are directly associated with the merchant in 1-to-many relationships.
Submitting a merchant to the PXP Financial System triggers the onboarding process. The response to the POST /merchants contains the current state of the merchant. Over time this state will change to reflect the onboarding progress. State change notifications will be sent to a dedicated email address and/or listener URL supplied by the partner when it is enabled for PXP Financial Onboarding API. See Notifications] for more information.
Shops
A shop represents an acceptor location, i.e. the URL of a website from which goods and services are sold.
Related People
For a related person which is associated with the merchant in question, some information is required. Every person submitted can have one or multiple roles, such as Owner, Shareholder, DirectorOrExecutive, UltimateBeneficiary, OperationalContact or TechnicalContact. In a smaller company, the same person usually fulfills more than one role.
Related Companies
A related company is associated with the merchant in question in some way, for example as an owner, beneficiary or shareholder. If the merchant to be onboarded is owned by another parent company, this information needs to be disclosed for this entity.
Bank Accounts
This is a bank account the merchant would like to settle to.
Settlement Routing Information
Currently, it is not possible to send settlement routing information (which processing currencies should be settled to which bank account). This will be enabled later.
Questions and Answers
This is a set of answers to predefined questions, mainly related to underwriting. The questions themselves can be retrieved by calling GET /questions. Questions are grouped into different categories, depending on the entity (merchant, shop) they relate to.
When submitting a merchant or shop, a collection of question (identified by the ID of the question) and answer pairs has to be submitted. Please see Additional Onboarding Questions for more information on this topic.
Documents
Documents are files representing contracts or passport copies for example.
The documents can be associated with various different entities, like the merchant itself (e.g. signed copy of the contract), a bank account (e.g. bank letter as proof of ownership), a person (e.g. copy of the passport) or even a shop (e.g. a licence proving that the shop is allowed to operate in a certain country).
Please see the Required Documents section for a list of documents needed.
Customer Due Diligence Level for a Merchant
When a merchant is onboarded with PXP Financial, certain data elements, documents and questions have to be provided. The set of mandatory parameters is defined per Customer Due Diligence Level (CDD-Level.)
Currently two CDD-Levels are supported:
| CDD Level | Condition |
|---|---|
| SoleTrader | The legal form of the merchant must either be Sole Trader or Sole Proprietor. ( legalForm equals "SoleTrader" or "SoleProprietor") |
| Standard | The legal form of the merchant is not Sole Trader or Sole Proprietor. ( legalForm does not equal "SoleTrader" or "SoleProprietor") |
Which information has to be sent per CDD-Level is described here:
Updated almost 5 years ago