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.
Endpoint Information
Request Header: X-BH-TOKEN: ******
Request Header: Content-Type: application/json
Request Method: POST
Request Path: /v2/merchant/accounts
Authorization Required: Yes
Example Requests (For Business)
For MXN Account (ARCUS FI)
{ "merchantId":"15126673",// (required, number: id of the merchant)"fiat":"MXN",// (required, string: name of the fiat currency [MXN]) "trench":"ARCUS FI",//"trench": "Account_Lead Bank", //(required, string: trench [Account_Lead Bank/Wire - Standard Charted Bank]) }
For MXN Account (FINCO PAY)
For ARS Account (Argentina)
For COP Account (Colombia)
For BRL Account (Brazil)
For PEN Account (Peru)
For EUR/USD Account_Lead Bank
After the EUR currency account is activated, it can be used for both EUR and USD transactions.
For USD Business Wire - Standard Charted Bank
Example Responses
Example Response (MXN/ARS/COP/BRL/PEN)
Example Response (USD / EUR)
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.
{
"merchantId": "15126673", // (required, number: id of the merchant)
"fiat": "MXN", // (required, string: name of the fiat currency [MXN])
"trench": "FINCO PAY" //(required, string: trench [FINCO PAY])
}
{
"merchantId": "15126673", // (required, number: id of the merchant)
"fiat": "ARS" // (required, string: name of the fiat currency [ARS])
}
{
"merchantId": "15126673", // (required, number: id of the merchant)
"fiat": "COP", // (required, string: name of the fiat currency [COP])
}
{
"merchantId": "15126673", // (required, number: id of the merchant)
"fiat": "BRL", // (required, string: name of the fiat currency [BRL])
}
{
"merchantId": "15126673", // (required, number: id of the merchant)
"fiat": "PEN", // (required, string: name of the fiat currency [PEN])
}
{
"merchantId": "15126673", // (required, number: id of the merchant)
"fiat": "EUR", // (required, string: name of the fiat currency [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)
}
}
{
"merchantId": "15126673", // (required, number: id of the merchant)
"fiat": "USD", // (required, string: name of the fiat currency [USD])
"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)
}
}
}
