# Activate Merchant Account (For Business) 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 01 (Mexico)** Supported payment methods: SPEI (Finco Pay) ```json { "merchantId": "15126673", // (required, number: id of the merchant) "fiat": "MXN", // (required, string: name of the fiat currency [MXN]) "trench": "CLABE - FINCO PAY" //(required, string: trench [CLABE - FINCO PAY]) } ``` **or MXN Account 02 (Mexico)** Supported payment methods: SPEI (Tesored) ```json { "merchantId": "15126673", // (required, number: id of the merchant) "fiat": "MXN", // (required, string: name of the fiat currency [MXN]) "trench": "CLABE - TESORED" //(required, string: trench [CLABE - TESORED]) } ``` **For ARS Account 01 (Argentina)** Supported payment methods: CBU/CVU (Momentum) ```json { "merchantId": "15126673", // (required, number: id of the merchant) "fiat": "ARS", // (required, string: name of the fiat currency [ARS]) "trench": "CVU - Momentum" //(required, string: trench [CVU - Momentum]) } ``` **For ARS Account 02 (Argentina)** Supported payment methods: 3.0 Transfer (QR) ```json { "merchantId": "15126673", // (required, number: id of the merchant) "fiat": "ARS", // (required, string: name of the fiat currency [ARS]) "trench": "QR Argentina", //(required, string: trench [QR Argentina]) "fieldList":{ "cuit": "123456789" //(optional,string: Additional arbitrary metabata to attach to the transaction.) } } ``` **For COP Account (Colombia)** Supported payment methods: PSE, ACH, Bre-B ```json { "merchantId": "15126673", // (required, number: id of the merchant) "fiat": "COP", // (required, string: name of the fiat currency [COP]) "trench": "COP Account" //(required, string: trench [COP Account]) } ``` **For BRL Account 01 (Brazil)** Supported payment methods: Pix (Genial) ```json { "merchantId": "15126673", // (required, number: id of the merchant) "fiat": "BRL", // (required, string: name of the fiat currency [BRL]) "trench": "BANCO GENIAL" //(required, string: trench [BANCO GENIAL]) } ``` **For BRL Account 02 (Brazil)** Supported payment methods: Pix (a55) ```json { "merchantId": "15126673", // (required, number: id of the merchant) "fiat": "BRL", // (required, string: name of the fiat currency [BRL]) "trench": "a55" //(required, string: trench [a55]) } ``` **For PEN Account (Peru)** Supported payment methods: Bank Transfer ```json { "merchantId": "15126673", // (required, number: id of the merchant) "fiat": "PEN", // (required, string: name of the fiat currency [PEN]) "trench": "PEN Account" //(required, string: trench [PEN Account]) } ``` **For EUR/USD Account 01** Once activated, the EUR account supports both EUR and USD transactions. Supported payment methods: ACH\_push, ACH\_Virtual Account, WIRE, WIRE\_Virtual Account, SEPA ```json { "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": "rturo@gmail.com", // (optional, string: Email, if the merchant information is not provided, it must be filled in) "companyName": "CAPITAL SA COCOS", // (required, string: Company Name) } } ``` **For USD Account 02** Supported payment methods: ACH Account\_Cross River Bank, WIRE Account\_Cross River Bank, Wire - Standard Charted Bank, SWIFT Account\_Cross River Bank ```json { "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": "contact@example.com", // 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": "john.smith@example.com", // 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/CNY/HKD/EUR/SGD/NGN/PHP** **Account 03** Supported payment methods: Wire (CPN), CIPS (CPN), FPS (CPN), CHATS (CPN), SEPA(CPN), BANK-TRANSFER(CPN), PESONET(CPN), FEDWIRE(CPN)
```json { "merchantId": "15126673", // (required, number: id of the merchant) "fiat": "USD", // (required, string: name of the fiat currency [PEN]) "trench": "Circle Payment Network", //(required, string: trench) } ``` #### **Example Responses** **Example Response (MXN/ARS/COP/BRL/PEN)** ```json { "code": 200, "msg": "SUCCESS", "data": { "fiat": "USD", "status": 0, "verifyLink": "https://verify-sandbox.aiprise.com/?business_onboarding_session_id=xxx", "failReason": "" } } ``` **Example Response (USD / EUR)** ```json { "code": 200, "msg": "SUCCESS", "data": { "fiat": "USD", "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.