Activate Merchant Account
This endpoint is used to activate a merchant's fiat currency payment account. Supported currencies include MXN, ARS, COP, BRL,PEN,USD, and EUR. Once activated, merchants can send and receive funds through local banking channels with increased flexibility and efficiency.
Each merchant will receive dedicated account details (e.g., ARS accounts include CVU number / CUIT for Argentina).
Merchants can deposit funds via wire transfer; VelaFi will automatically reconcile the transaction and credit the merchant’s account balance.
Both business and individual account types are supported, enabling broad use across various payment scenarios.
Note: Once a EUR account is activated, it enables the merchant to operate with both EUR and USD currencies simultaneously.
Endpoint Information
Request Header:
X-BH-TOKEN: ******Request Header:
Content-Type: application/jsonRequest Method:
POSTRequest Path:
/v2/merchant/accountsAuthorization Required: Yes
Request Parameters
The request body should include the following fields:
For MXN Account (ARCUS FI)
{
"merchantId": "15126673", // (required, number: id of the merchant)
"fiat": "MXN", // (required, string: name of the fiat currency [MXN/ARS/COP/BRL/PEN/USD/EUR])
"flow": "ARCUS FI", //"trench": "Account_Lead Bank", //(required, string: trench [Account_Lead Bank/Wire - Standard Charted Bank])
"fieldList": { // List of channel fields
"email": "[email protected]", // (optional, string: Email, if the merchant information is not provided, it must be filled in)
"idNoType": "CURP", //(required, enum: type of identification document [CURP/RFC])
"idNo": "MACM000502IR6",//(required, string: identity number)
"cardIssueDate": "2019-06-01", // (required, string: Card Issue Date (yyyy-MM-dd))
"cardExpireDate": "2029-06-01", // (required, string: Card Expiry Date (yyyy-MM-dd))
"address": "Celle Lagu Wenner 50", // (required, string: Address)
"city": "Ciudad de Mexico", // (required, string: City)
"state": "CMX", // (required, string: State)
"zipCode": "09060", // (required, string: Zip Code)
"phone": "35580481683", // (required, string: Phone)
"companyName": "Rrturo Tellez", // (string: Company Name, required if merchantType is BUSINESS)
"aliasName": "Rrturo", // (string: Alias Name, required if merchantType is BUSINESS)
"companyType": "SC", // (string: Company Type, required if merchantType is BUSINESS)
"incorporationDate": "2019-02-01", // (string: Incorporation Date (yyyy-MM-dd), required if merchantType is BUSINESS)
"birthday": "1988-07-02", // (string: Birthday (yyyy-MM-dd), required if merchantType is INDIVIDUAL)
"name": "Tellez", // (string: Name, required if merchantType is INDIVIDUAL)
"fatherSurname": "Rrturo", // (string: Father's Surname, required if merchantType is INDIVIDUAL)
"motherSurname": "" // (string: Mother's Surname, required if merchantType is INDIVIDUAL)
}
}For MXN Account (FINCO PAY)
{
"merchantId": "15126673", // (required, number: id of the merchant)
"fiat": "MXN", // (required, string: name of the fiat currency [MXN/ARS/COP/BRL/PEN/USD/EUR])
"flow": "FINCO PAY", //(required, string: trench [FINCO PAY])
"fieldList": { // List of channel fields
"alias": "rrturo_alias", // (required, string: alias)
}
}For ARS Account (Argentina)
{
"merchantId": "15126673", // (required, number: id of the merchant)
"fiat": "ARS", // (required, string: name of the fiat currency [MXN/ARS/COP/BRL/PEN/USD/EUR])
"fieldList": { // List of channel fields
"email": "[email protected]", // (optional, string: Email, if the merchant information is not provided, it must be filled in)
"cuit": "30708424478", // (required, string: CUIT)
"name": "COCOS CAPITAL SA", // (required, string: Full Name)
"alias": "soc.te" // (optional, string: Alias)
}
}For COP Account (Colombia)
{
"merchantId": "15126673", // (required, number: id of the merchant)
"fiat": "COP", // (required, string: name of the fiat currency [MXN/ARS/COP/BRL/PEN/USD/EUR])
"fieldList": { // List of channel fields
"alias": "soc.te" // (required, string: Alias)
}
}For BRL Account (Brazil)
{
"merchantId": "15126673", // (required, number: id of the merchant)
"fiat": "BRL", // (required, string: name of the fiat currency [MXN/ARS/COP/BRL/PEN/USD/EUR])
}For PEN Account (Peru)
{
"merchantId": "15126673", // (required, number: id of the merchant)
"fiat": "PEN", // (required, string: name of the fiat currency [MXN/ARS/COP/BRL/PEN/USD/EUR])
"fieldList": { // List of channel fields
"customerIdentificationType": "00", // (required, string: identification type[00:CC (8 digits), 01:CE (>9 digits), 02:Tax ID (11 digits), 03:PAS (>9 digits), 04:PAR, 05:LMI])
"customerIdentification": "12345678", // (required, string: identification number)
"customerName": "Tom", // (required, string: name)
"lastName": "", // (optional, string: surname, The merchant type must be selected as "Individual" for this field.)
"customerEmail": "[email protected]", // (required, string: email)
"customerPhone": "975728895" // (required, string: phone number)
}
}For EUR/USD Account_Lead Bank
After the EUR currency account is activated, it can be used for both EUR and USD transactions.
{
"merchantId": "15126673", // (required, number: id of the merchant)
"fiat": "EUR", // (required, string: name of the fiat currency [MXN/ARS/COP/BRL/USD/EUR])
"trench": "Account_Lead Bank", //(required, string: trench [Account_Lead Bank/Wire - Standard Charted Bank])
"fieldList": { // List of channel fields
"email": "[email protected]", // (optional, string: Email, if the merchant information is not provided, it must be filled in)
"companyName": "CAPITAL SA COCOS", // (string: Company Name, required if merchantType is BUSINESS)
"firstName": "CAPITAL SA", // (string: First Name, required if merchantType is INDIVIDUAL)
"lastName": "COCOS" // (string: Last Name, required if merchantType is INDIVIDUAL)
}
}For USD Business Wire - Standard Charted Bank
{
"merchantId": "15126673", // (required, number: id of the merchant)
"fiat": "USD", // (required, string: name of the fiat currency [MXN/ARS/COP/BRL/USD/EUR])
"trench": "Wire - Standard Charted Bank", //(required, string: trench [Account_Lead Bank/Wire - Standard Charted Bank])
"callbackUri": "https://localhost/home", //(string: callback address after accepting the agreement)
"fieldList": { // List of channel fields
"companyInfo": { // Company information (required when Merchant Type BUSINESS)
"companyName": "Example Corp", // Full company name (required)
"companyDescription": "A fintech company providing payment solutions", // Company description (required)
"companyIndustry": "FINANCIAL_SERVICES", // Industry type (Financial Services)(required)
"email": "[email protected]", // Company contact email (required)
"phoneNumber": "+15551234567", // Company contact phone number (required)
"incorporationDate": "2015-06-15", // Company registration date (required)
"taxType": "EIN", // Tax ID type [EIN/SSN/VAT/TIN/UTR](required)
"taxId": "123456789", // Tax ID (required)
"website": "https://www.example.com", // Company website (required)
"street1": "123 Main St", // Street address 1 (required)
"street2": "Suite 100", // Street address 2
"city": "New York", // City (required)
"state": "NY", // State/Province (required)
"postcode": "10001", // Postal code (required)
"countryAbbr": "US", // Country code (required)
"legalPresenceUrl": "example-corp/articles.pdf", // Company registration document (required), size between 10KB - 3MB, Upload File endpoint: /v2/base/file/upload
"ownershipStructure": "example-corp/ownership.pdf" // Ownership structure proof (required), size between 10KB - 3MB, Upload File endpoint: /v2/base/file/upload
},
"companyUbosInfo": [ // List of company Ultimate Beneficial Owners (UBO) (required when merchantType=2)
{
"personType": "UBO", // Person type (UBO=Ultimate Beneficial Owner)(required)
"firstName": "John", // First name (required)
"lastName": "Smith", // Last name (required)
"email": "[email protected]", // Email (required)
"phone": "+15559876543", // Contact phone number (required)
"percentageOfOwnership": 0.65, // Ownership percentage (65%)(required)
"taxIdentificationNumber": "987654321", // Personal tax ID (SSN)(required)
"dateOfBirth": "1980-03-15", // Date of birth (required), age must be between 18 and 120 years.
"street": "456 Oak Ave", // Street address (required)
"street2": "", // Street address 2
"city": "Brooklyn", // City (required)
"state": "NY", // State/Province (required)
"postcode": "11201", // Postal code (required)
"countryAbbr": "US", // Country code (required)
"idType": "3", // ID type [1:ID card, 2:Driver's license, 3:Passport/Residence permit](required)
"idNumber": "P12345678", // ID number (required)
"govIdCountryAbbr": "US", // ID issuing country (required)
"govIdFrontUrl": "john-smith/passport-front.jpg", // ID front side (required), size between 10KB - 3MB, Upload File endpoint: /v2/base/file/upload
"govIdBackUrl": "john-smith/passport-back.jpg", // ID back side (required), size between 10KB - 3MB, Upload File endpoint: /v2/base/file/upload
"hasControl": true, // Has control rights (required)
"hasOwnership": true, // Has ownership rights (required)
"hasSigner": true, // Is signatory (required), at least one must be true
"relationshipEstablishedAt": "2015-06-15" // Relationship establishment date (required)
}
],
"companyQuestionnaireInfo": { // Company questionnaire information (required when merchantType=2)
"tradeName": "Example Payments", // Trade name (required)
"industryType": "cooperative", // Industry subdivision (required)[cooperative/s_corporation/b_corporation/close_corporation/nonprofit_corporation/general_partnership/limited_partnership/limited_liability_company/other/sole_proprietorship/trust]
"organizationalChartUrl": "example-corp/org-chart.pdf", // Organizational chart (required), size between 10KB - 3MB, Upload File endpoint: /v2/base/file/upload
"estimatedAnnualRevenueUsd": "100000_999999", // Estimated annual revenue (USD)(required)[0_99999/100000_999999/1000000_9999999/10000000_49999999/50000000_249999999/250000000_plus]
"expectedMonthlyPaymentsUsd": "500000", // Expected monthly transaction volume (USD)(required)
"highRiskActivities": "none_of_the_above", // High-risk activities[none_of_the_above/adult_entertainment/gambling/hold_client_funds/investment_services/lending_banking/marijuana_or_related_services/money_services/operate_foreign_exchange_virtual_currencies_brokerage_otc/safe_deposit_box_rentals/third_party_payment_processing/weapons_firearms_and_explosives]
"purposeOfAccount": "charitable_donations", // Account purpose (required)[charitable_donations/ecommerce_retail_payments/investment_purposes/operating_a_company/other/payments_to_friends_or_family_abroad/personal_or_living_expenses/protect_wealth/purchase_goods_and_services/receive_payment_for_freelancing/receive_salary]
"sourceOfFunds": "business_loans", // Source of funds (required)[business_loans/grants/inter_company_funds/investment_proceeds/legal_settlement/owners_capital/pension_retirement/sale_of_assets/sales_of_goods_and_services/tax_refund/third_party_funds/treasury_reserves]
"transmitsCustomerFunds": true, // Handles customer funds (required)
"transmitsCustomerFundsDescription": "We process payments for merchants" // Funds handling description (required)
}
}
}For USD Individual Wire - Standard Charted Bank
{
"merchantId": "15126673", // (required, number: id of the merchant)
"fiat": "MXN", // (required, string: name of the fiat currency [MXN/ARS/COP/BRL/USD/EUR])
"trench": "Account_Cross River Bank", //(required, string: trench [Account_Lead Bank/Wire - Standard Charted Bank])
"callbackUri": "https://localhost/home", //(string: callback address after accepting the agreement)
"fieldList": { // List of channel fields
"personalInfo": { // Personal information (required when when Merchant Type INDIVIDUAL)
"firstName": "tom", // First name (pinyin or English)(required)
"lastName": "fr", // Last name (pinyin or English)(required)
"phone": "+12570000000", // Personal phone number (with country code)(required)
"email": "[email protected]", // Personal email (required)
"taxIdentificationNumber": "31010119800000000", // Personal tax ID/ID card number (required)
"nationality": "US", // Nationality code (China)(required)
"dateOfBirth": "1980-10-10", // Date of birth (YYYY-MM-DD)(required), age must be between 18 and 120 years.
"street1": "example street1", // Street address (required)
"street2": "", // Street address 2
"city": "New City", // City (required)
"state": "AZ", // Province/State code (required)
"postcode": "901203", // Postal code (required)
"countryAbbr": "US", // Country code (required)
"idType": "1", // ID type [1:ID card, 2:Driver's license, 3:Passport/Residence permit](required)
"idNumber": "31010119800000000", // ID number (required)
"govIdCountryAbbr": "US", // ID issuing country (required)
"govIdFrontUrl": "user-654321/id-front.jpg", // ID front side (required), size between 10KB - 3MB, Upload File endpoint: /v2/base/file/upload
"govIdBackUrl": "user-654321/id-back.jpg" // ID back side (required), size between 10KB - 3MB, Upload File endpoint: /v2/base/file/upload
},
"personalQuestionnaireInfo": { // Personal questionnaire information (required when merchantType=1)
"actingAsIntermediary": false, // Acting as intermediary (false=No)(required)
"employmentStatus": "employed", // Employment status (required)[employed/homemaker/retired/self_employed/student/unemployed]
"expectedMonthlyPayments": "5000_9999", // Expected monthly transaction volume (USD)(required)[0_4999/5000_9999/10000_49999/50000_plus]
"purposeOfAccount": "charitable_donations", // Account purpose (required)[charitable_donations/ecommerce_retail_payments/investment_purposes/operating_a_company/other/payments_to_friends_or_family_abroad/personal_or_living_expenses/protect_wealth/purchase_goods_and_services/receive_payment_for_freelancing/receive_salary]
"occupation": "132011", // Occupation (required), see list below: occupation codes
"sourceOfFunds": "salary" // Source of funds (required)[company_funds/ecommerce_reseller/gambling_proceeds/gifts/government_benefits/inheritance/investments_loans/pension_retirement/salary/sale_of_assets_real_estate/savings/someone_elses_funds]
}
}
}
occupation codes:
132011:Accountant and auditor
272011:Actor
152011:Actuary
172021:Agricultural engineer
132031:Budget analyst
412010:Cashier
172041:Chemical engineer
499091:Coin, vending, and amusement machine servicer and repairer
271021:Commercial and industrial designer
273041:Editor
472111:Electrician
434071:File clerk
131111:Management analyst
119199:Manager, other
191040:Medical scientist
195010:Occupational health and safety specialist and technician
27102X:Other designer
2912XX:Other physician
5191XX:Other production worker
519151:Photographic process worker and processing machine operator
211029:Social worker, other
132081:Tax examiner and collector, and revenue agent
151254:Web developer
515111:Prepress technician and worker
273042:Technical writer
172199:Engineer, other
433099:Financial clerk, other
1320XX:Other financial specialistResponse Structure
The response will include the following fields:
{
"code": 200,
"msg": "SUCCESS",
"data": {
"fiat": "MXN", // (string: name of the fiat currency [MXN/USD/EUR])
"status": 1, // (enum: status of the channel [1: authenticating, 2: normal, 3: authentication failed, 4: incomplete])
"failReason": "", //（string: cause of failure)
"verifyLink": "" // (string: Verified link, only through the IBAN channel is it possible)
}
}Example Requests
Example Request (MXN)
{
"fiat": "MXN",
"merchantId": 15126673,
"fieldList": {
"email": "[email protected]",
"idNoType": "CURP",
"idNo": "MACM000502IR6",
"cardIssueDate": "2019-06-01",
"cardExpireDate": "2029-06-01",
"address": "Celle Lagu Wenner 50",
"city": "Ciudad de Mexico",
"state": "CMX",
"zipCode": "09060",
"phone": "35580481683",
"companyName": "Rrturo Tellez",
"aliasName": "Rrturo",
"companyType": "SC",
"incorporationDate": "2019-02-01",
"birthday": "1988-07-02",
"name": "Tellez",
"fatherSurname": "Rrturo",
"motherSurname": ""
}
}Example Request (ARS)
{
"fiat": "ARS",
"merchantId": 15126673,
"fieldList": {
"email": "[email protected]",
"cuit": "30708424478",
"name": "COCOS CAPITAL SA",
"alias": "soc.te"
}
}Example Request (BRL)
{
"merchantId": "15126673",
"fiat": "BRL"
}Example Request (COP )
{
"merchantId": "15126673",
"fiat": "COP",
"fieldList": {
"alias": "soc.te"
}
}Example Request (PEN)
{
"merchantId": "15126673",
"fiat": "PEN",
"fieldList": {
"customerIdentificationType": "00",
"customerIdentification": "12345678",
"customerName": "Tom",
"lastName": "",
"customerEmail": "[email protected]",
"customerPhone": "975728895"
}
}Example Request (EUR/USD)
{
"fiat": "EUR",
"merchantId": "15126673",
"fieldList": {
"email": "[email protected]",
"companyName": "CAPITAL SA COCOS"
}
}Example Responses
Example Response (MXN/ARS/COP/BRL/PEN)
{
"code": 200,
"msg": "SUCCESS",
"data": {
"fiat": "MXN",
"status": 1,
"failReason": ""
}
}Example Response (EUR/USD)
{
"code": 200,
"msg": "SUCCESS",
"data": {
"fiat": "EUR",
"status": 4,
"verifyLink": "https://www.vealfi-test.com/business/channel/verify?token=12ceff08f9621808b5a573972cdfb10f",
"failReason": ""
}
}Notes
Ensure that all fields in the request body are filled out correctly to facilitate the activation process.
Merchants may need to provide additional documentation based on the type of account being activated.
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