Onboarding a new Merchant is an integral part of the Finix Flex (Flex) program. The onboarding process for a new Flex customer at a high level consists of the following steps: 

1. Completing the Merchant application 
2. Submitting the Merchant application 
3. Underwriting the Merchant application 

For additional information on the process, contact your Finix Customer Success manager.

Completing the Merchant application 

If approved for the Beta launch of the Flex program, Finix provides Flex customers with an online boarding form that includes all the information required to create a Merchant Identity on the Flex platform. The online form captures the following information: 

• Merchant information including but not limited to: 
• Legal business name 
• DBA 
• Tax ID/ EN 
• Business address

• Payments information including but not limited to: 
• Type of services provided 
• Annual gross revenue 
• Average transaction size 
• Payment instrument information including the bank account to be paid into

The submitted form creates a Merchant Identity and Merchant payment instrument on the Flex platform.

Submitting the Merchant application 

The next step in the onboarding process is to submit the Merchant application. This is part of the underwriting process. 

After submitting the Merchant application, webhooks are configured that communicate the application’s status change as it progresses through the underwriting process. Wehook notifications are generated and sent to the Flex customer at the following stages: 

1. When the Merchant Identity and payment instrument are created 
2. When the Merchant Identity is created on the Flex platform 
3. When the Merchant is underwritten and approved and verification status is updated 
4. When the Merchant provisioning onboarding state is updated

Underwriting the Merchant application 

Underwriting process 

The underwriting process for Flex customers is dependent on if the Merchant application is approved or rejected.

Approved application 

A successful application is approved by both Finix and Worldpay. A successful application creates a Merchant Identity on the Flex Dashboard and a MID on Worldpay. 

Rejected application 

An application can be rejected by Finix or Worldpay. If the application is rejected by Finix, a notification (email or ticket) is sent to the Flex customer. The Flex customer can work with their Finix Customer Success manager to review the rejected application and submit for reconsideration. 

If the application is rejected by Worldpay, a notification is sent via webhook. On the Flex Dashboard, the reason for the rejection can be viewed in the Merchant record. The Flex customer can work with Finix to determine what can be done to get the application approved by Worldpay. 

Application review timeline 

Merchant applications are forwarded and reviewed by Worldpay, Monday through Friday from 9 am to 6 pm EST. Applications are typically reviewed by Worldpay within one hour.

Updating a Merchant’s application 

At the current moment, a Merchant application cannot be updated or corrected after it has been submitted. The Flex customer can make updates to the application and then submit a Support ticket to Finix to have the application resubmitted for a new verification. 

Viewing the Merchant Identity on the Dashboard 

The Merchant application creates a Merchant Identity on the Flex Dashboard. This Merchant Identity can be queried using the Dashboard or by the Identity resource ID provided by the webhook notification.