> For the complete documentation index, see [llms.txt](https://docs.velafi.com/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.velafi.com/api-reference/merchant/activate-merchant-account-for-business.md). # 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 - Woovi ```json { "merchantId": "15126673", // (required, number: id of the merchant) "fiat": "BRL", // (required, string: name of the fiat currency [BRL]) "trench": "Pix - Woovi", //(required, string: trench [Pix - Woovi]) "fieldList": { "companyInfo": { "companyName": "AURORA SANDBOX TECNOLOGIA LTDA.", // (required, string: Company legal name) "companyDescription": "test desc", // (required, string: Company Description) "countryStateOfIncorporation": "BR-SP", // (required, string: The country of residence - The state/province of residence) "website": "1234.com", // (required, string: Website) "socialMedia": "social media", // (required, string: Social Media) "street1": "Avenida Paulista, 1000", // (required, string: Company address, first line (max 256 chars)) "street2": "fda", // (Optional, string: Company address, second line.) "city": "São Paulo", // (required, string: Company city (max 256 chars).) "countryStateCode": "BR-SP", // (required, string: // (required, string: The country of residence - The state/province of residence)) "postcode": "01310-100", // (required, string: Company postal code (max 256 chars).) "reasonForAccountOpening": "ecommerce_retail_payments", // (required, enum: charitable_donations, ecommerce_retail_payments, investment_purposes, other, payments_to_friends_or_family_abroad, payroll, personal_or_living_expenses, protect_wealth, purchase_goods_and_services, receive_payments_for_goods_and_services, tax_optimization, third_party_money_transmission, treasury_management) "sourceOfFunds": "grants", // (required, enum: business_loans, grants, inter_company_funds, investment_proceeds, legal_settlement, owners_capital, pension_retirement, sale_of_assets, sales_of_goods_and_services, third_party_funds, treasury_reserves) "numberOfEmployees": "11-50", // (required, enum: 1-10, 11-50, 51-200, 201-500, 501-1000, 1001+) "estimatedAnnualRevenueUsd": "less_than_100k", // (required, enum: less_than_100k, 100k_to_1m, 1m_to_10m, 10m_to_50m, 50m_to_100m, more_than_100m) "estimatedMonthlyVolumeUsd": 10000, // (required, number: Positive integer as string (e.g. "2000")) "companyRegistrationNumber": "42731085000167", // (required, string: Company registration number.) "taxIdentificationNumberTin": "10000000316452", // (required, string: Company TIN/CNPJ.) "taxIdentificationDocumentUrl": "https://files.r2.smallpdf.com/7252fd2f0af7225fd617479a5da271b4.pdf", // (required, string: Certificate of Incorporation, The document must be in PDF format.) "certificateOfIncorporationDocumentUrl": "https://files.r2.smallpdf.com/dffcd8e4dfdfa43c55580df208489960.pdf" // (required, string: Tax Identification Document, The document must be in PDF format.) }, "companyUbosInfo": [{ "personType": "CEO", // (required, string: Website) "firstName": "tom", // (required, string: First Name) "lastName": "tom", // (Optional, string: Last Name) "email": "11@qq.com", // (required, string: UBO contact email) "phone": "+14151231234", // (required, string: UBO contact phone) "percentageOfOwnership": 1, // (required, string: Percentage of Ownership,0.01 - 1) "nationality": "CN", // (required, string: Nationality) "taxIdentificationNumber": "432524199612188018", // (required, string: Tax identification number. For BRA a valid CPF is required; for USA a 9-digit number is required.) "dateOfBirth": "1999-05-13", // (required, string: YYYY-MM-DD. Minimum age 18.) "street1": "789 street", // (required, string: Street address, first line (max 256 chars).) "street2": "123", // (required, string: Street address, second line.) "city": "Shanghai", // (required, string: City of residence. ) "countryStateCode": "CN-SH", // (required, string: The country of residence - The state/province of residence) "postcode": "200001", // (required, string: Postal code.) "idType": "1", // (required, string: gender Only Support [1, 2, 3],[1: ID_CARD,2: DRIVERS ,3: PASSPORT]) "govIdCountryAbbr": "CN", // (required, string: Gov ID Country) "govIdFrontUrl": "https://i.ibb.co/v6nTV8z1/me-id-front-png.jpg" // (required, string: ID Document Front,identification documents accept image/png or image/jpeg) }] } } ``` **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": "Lead 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 "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/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. --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter, and the optional `goal` query parameter: ``` GET https://docs.velafi.com/api-reference/merchant/activate-merchant-account-for-business.md?ask=&goal= ``` `ask` is the immediate question: it should be specific, self-contained, and written in natural language. `goal` is optional and describes the broader end goal you are ultimately trying to accomplish on behalf of the user. GitBook uses it to tailor the answer towards what is most useful for that goal. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.