Onboarding KYB Workflow
Prerequisite Steps
Note
Before starting this workflow, you must do the following in the Partner Portal:
Step 1: List Offerings - Retrieve the Offerings and select the offering that will be used in the next step when the organization is created.
Step 2: Create Organization - Create the merchant's organization that also includes their
merchant_account_id- The ID of the merchant's account (String starting with org_).
Note
After the organization is created, the merchant receives an invitation email from Rapyd to register to the Rapyd Client Portal. The merchant has the option to accept the invitation and create an account in the Rapyd Client Portal.
KYB Steps
Note
There is an additional header parameter for all the methods after step 2 in this section: merchant_account_id . See also Create Organization.
Step 1: Get Application Template - Retrieve the template for the application in order to view its fields and valid values.
Step 2: Get information to create the application:
List Industries - List the industries in order to know the MCC code of the proprietor.
Step 3: Create an application for relevant type of proprietor. One of the following:
Step 4: Update Application - Update the application with fields that have been populated.
Step 5: Upload Document to Application - Upload document files for each field that requires a document.
Step 6: Submit Application - Submit the application for review and final status.
Step 7: Retrieve Application - Retrieve the application to view its current application status and its field values. You can also retrieve an application via the wallet ID of the application.
Organization Status Updates
Note
The header parameter merchant_account_id is not required for any organization method.
Get Organization - Check the details of the organization (merchant) including its current KYB status. You also have the option to view the details of all your organization via List Organizations.
Optional - Add Bank Accounts
Note
You can add settlement bank accounts to a merchant during the KYB process or after it.
Step 1: Upload Bank Statement Verification File - Upload a bank statement verification file in order to begin the process of adding a settlement bank account. After this method is completed successfully, you can proceed to add a settlement bank account.
Step 2: Add Settlement Bank Account - Add a settlement bank account to a merchant during or after the onboarding process. Bank accounts are linked to the merchant wallet.
Auxiliary request: Update Settlement Bank Account - Update settlement bank account details.
Auxiliary request: List Settlement Bank Accounts - List the settlement bank accounts of a merchant wallet.
Auxiliary request: Delete Settlement Bank Account - Delete a settlement bank account from a merchant wallet.