Creating Your Merchant

Create a legal individual or business entity (Merchant) to operate under VelaFi's compliance framework.

• Submit your detailed merchant information to initiate the KYC/KYB compliance verification process.

• Upon successful verification, the platform will assign a unique Merchant ID (MID) to you or your client.

Upon a successful API request, the response will include a unique URL that redirects the user to a secure KYC/KYB verification page. You may choose to:

• Redirect users directly to the provided URL to complete their verification process, or

• Embed the verification flow within your front-end application using an <iframe>, offering a seamless user experience.

Please ensure that the URL is used promptly, as it may be subject to expiration or session constraints depending on the configuration.

Endpoint Information

• Request Header: X-BH-TOKEN: ******

• Request Header: Content-Type: application/json

• Request Method: POST

• Request Path: /v2/merchants

• Authorization Required: Yes

Request Parameters

The request body should include the following fields:

For New Merchant

{     
    "merchantName": "Tom", //(required, string: Merchant Name (Unique))
    "email": "[email protected]", //(required, string: Email (Unique))
    "merchantType": "BUSINESS", //(required, string: Merchant Type [INDIVIDUAL, BUSINESS])
    "callbackUrl": "https://localhost", //(required, string: URL for KYC/KYB completion callback)
    "languageCode": "en", //(optional, string: Interface language (en(default)/es/pt/zh))
    "remark": "test" //(optional, string: Remark)
}

For Unverified Merchant

{
    "merchantId": 15126673, //(required, number: id of the merchant)
    "callbackUrl": "https://localhost", //(required, string: URL for KYC/KYB completion callback)
    "languageCode": "en" //(optional, string: Interface language (en(default)/es/pt/zh))
}

Response Structure

The response will include the following fields:

{
    "code": 200,
    "msg": "SUCCESS",
    "data": {
        "merchantId": 15126673, //(number: id of the merchant)
        "kycLink": "https://www.velafi.com/verify?token=abc123" //(string: Link for conducting KYC/KYB verification)
    }
}

Example Requests

Example Request (New Merchant)

{     
    "merchantName": "Tom", 
    "email": "[email protected]", 
    "merchantType": "BUSINESS", 
    "callbackUrl": "https://localhost", 
    "languageCode": "en", 
    "remark": "add tom merchant"
}

Example Request (Unverified Merchant)

{
    "merchantId": 15126673, 
    "callbackUrl": "https://localhost", 
    "languageCode": "en"
}

Example Response

{
    "code": 200,
    "msg": "SUCCESS",
    "data": {
        "merchantId": 15126673,
        "kycLink": "https://www.velafi.com/business/token=_act-sbx-jwt-eyJhbGciOiJub25lIn0.eyJqdGkiOiJfYWN0LXNieC0xNGY3YWE4MS1kMTRjLTRmN2ItYTZmYy0xMzA4NWJiN2Y4MWUtdjIiLCJ1cmwiOiJodHRwczovL2FwaS5zdW1zdWIuY29tIn0.-v2&merchant_type=PERSONAL&callback_url=https%3A%2F%2F"
    }
}

I. Multi-Merchant Management

Once your primary merchant account has successfully passed KYB verification, you are eligible to create and manage sub-merchant entities (for individuals or businesses) under your account. This allows for tiered merchant management with flexible role and access controls.

II. Reliance Mode Integration (Optional)

If you are a licensed financial institution, you may apply to enable Reliance Mode, which grants greater autonomy over your merchant operations:

• You will be responsible for the review, risk control, and ongoing compliance of your sub-merchants. VelaFi will not intervene in the onboarding process.

• VelaFi provides the technical infrastructure and operational support, ensuring transaction security, efficiency, and regulatory compliance.

• Reliance Mode requires a higher-tier compliance review by the VelaFi compliance team.

🔗 Click here to learn more about the Reliance Mode application process