Integrated Onboarding is a streamlined merchant application process currently built for Flex customers. Using Finix’s API, platforms can offer their merchants a fully-branded onboarding experience that keeps merchants on the same site from start to submission. You can also use webhook notifications to monitor submissions, denials, and approvals for proactive communication.
Integrated Onboarding Workflow
Merchants go through an underwriting review with our Partner after an application is submitted. Below are the steps for the full onboarding flow.
- Platform sends a Merchant Identity API call with information about the merchant’s business and beneficial owners
- Example: Platform sends a Merchant Identity API call with information about the merchant’s business and beneficial owners
- Platform sends a Payment Instrument API call with information about the Merchant’s bank account
- Platform sends a Provision Merchant API call to create a merchant. This will submit information to our underwriting partner.
- Finix’s underwriting partner reviews the merchant application and provides an approval, rejection, or a request for more information.
- Upon approval from our underwriting partner, merchant information is sent to the processor.
- If the merchant is approved by the processor, Finix will return a MID and move the merchant resource (MUxx) to an approved state.
Application status notifications can be built into your dashboard using webhooks available through the API.
- Merchant completes an onboarding form containing information about their business and bank account information for payouts.
- Merchant details are sent from Finix to our underwriting partner via API for approval. Thereafter, the merchant details are sent to the processor.
- After approval from a processor, a mid is returned via Finix’s API.
- Full API Documentation: https://flex.finixpayments.com/#step-1-create-an-identity-for-a-merchant
- React Sample App: https://github.com/finix-payments/api-onboarding-example