Merchant Onboarding Options

Exact offers two merchant onboarding options.

Once a custom underwriting workflow is set up and attached to the partner profile partners can utilize our online web application in the PayFac portal to start onboarding merchants immediately.

Or, our Hosted Application Service can be found in the same PayFac portal in the merchant onboarding section. The iFrame link is available for use after a partner's custom underwriting workflow is set up by Exact. Simply click on the “View Underwriting Workflow” button near the top to access the workflow. Then click the copy button to the right side to open a dialogue box allowing you to copy the workflow into your own application. This workflow URL is a web form hosted by Exact enabling secure collection and submission of merchant application data in the same format you see in the online portal.

Merchant application data is then processed for underwriting using the partner's custom underwriting workflow(s) for validating KYC, KYB, AML, OFAC, and other business rules.

In addition to the Hosted Application Service, Exact offers partners a complete merchant onboarding API that enables a partner to collect and submit merchant application data for underwriting and payment account activation. This RESTful API allows a partner to POST new application data, or simply pass-thru previously collected data in the customer onboarding process. If utilizing the API method, once a POST is submitted, the platform returns a unique onboardingID used to search, edit, or update the merchant application at a later time.

The example below shows a typical data set to be included in a merchant application in order to cover all sponsor bank requirements with the Onboarding API.

API Versioning Support

A new versioning header is supported with our production launch on April 11, 2024. Use the latest version 1.0 in this header for any onboarding integration implementation from this date forward. Onboarding integrations prior to April 11, 2024 do not need to submit a header.

curl --request POST \
     --url https://api.exactpaysandbox.com/organization/organizationId/onboarding \
     --header 'Accept: application/json' \
     --header 'Content-Type: application/json' \
     --header 'X-API-Version: 1.0' \

{
    "workflow": "string",
    "merchant": {
        "name": "Exact's Coffee Shop",
        "businessRegistrationNumber": "881234567",
        "dbaName": "Exact's Coffee Shop",
        "establishedDate": "01/01/2001",
        "numberOfEmployees": 10,
        "telephone": "8005001234",
        "email": "[email protected]",
        "onlinePresence": "https://www.exactpay.com",
        "entityType": "LLC",
        "address": {
            "line1": "123 Main Street",
            "city": "Scottsdale",
            "postalCode": "85251",
            "country": "USA",
            "countrySubdivision": "AZ"
        },
        "principal": [{
            "address": {
                "line1": "50 South Drive",
                "city": "Phoenix",
                "postalCode": "85007",
                "country": "USA",
                "countrySubdivision": "AZ"
            },
            "firstName": "John",
            "lastName": "Demo",
            "title": "CEO",
            "telephone": "4805001234",
            "email": "[email protected]",
            "dateOfBirth": "10/01/1950",
            "driversLicense": "D12345678",
            "driversLicenseState": "AZ",
            "ssn": "123321123",
            "percentOfOwnership": 100,
            "currentOwnershipYears": 1,
            "currentOwnershipMonths": 5
        }],
        "anticipatedTransAmounts": {
            "averageTicketSize": 250,
            "maxTicketSize": 500,
            "anticipatedMonthlyVolume": 120000
        },
        "bankingDetails": {
            "bankName": "Wells Fargo",
            "routingNumber": "091000022",
            "ddaNumber": "123456789"
        },
        "businessProfile": {
            "acceptanceMethods": {
                "internet": 100,
                "moto": 0,
                "swipe": 0,
                "keyed": 0
            },
            "servicesDescription": "Coffee Products",
            "currentlyAcceptingPayments": false,
            "recurringServices": false,
            "refundPolicyDescription": "30 Days"
        },
        "mcc": "5261"
    }
}