Connected Accounts enable you to integrate and manage individual merchant accounts within your platform. Each connected account represents a bank account that will receive payments, process payouts, and manage transaction-related activities independently—all while being fully controlled through our API and Platform Dashboard.

Overview

Purpose

Connected Accounts allow you to offer payment services to multiple merchants or business entities on your platform. This means each merchant (for example, a sports club, an online store, or any service provider) can have their own payment setup, including the ability to process transactions and receive payouts.

Benefits

• Flexibility: Create and manage multiple connected accounts per merchant.

• Control: Retrieve detailed account data, update account settings, and onboard users seamlessly.

• Scalability: Easily integrate new merchants as your platform grows.

Timeline

When looking at the lifecycle of a Connected Account, we can see how easy it is to go from creation, to receive payments, running payouts to the merchants and archiving, using our API and optionally our Embeddables.

1. Creating a Connected Account:

   Use our API to create a new Connected Account by supplying the necessary details, such as external reference IDs, business name, and banking information. The account can begin to receive payments immediately.

2. Onboarding:

   Generate an onboarding link that the account creator uses to accept our Terms of service. As part of this process, the owner selects the mandatory signatories from the business board, as dictated by regulatory data from Brunnøysundregisteret completing the required compliance steps.

3. Receiving Payouts:

   Once signed by the required parties, the account becomes active and automatic payouts to the merchants bank accounts will begin.

4. Archiving:

   Archive inactive or finished accounts while preserving historical records to maintain a clean list of active accounts.

Keeping in sync

When using our services you most likely want to store more information surrounding our data. Whether you're adding a few extra data points or maintaining a complete database copy, our webhook notifications automatically synchronize all changes in real time.

See the Webhooks-section.

Webhooks

Summary

• Creation & Management:
  You can create multiple connected accounts per merchant, retrieve detailed account information, update tenant associations, and facilitate user onboarding through dedicated API endpoints.

• Flexibility:
  Our API is designed to handle various scenarios—from setting up a new connected account to managing existing account data and ensuring smooth onboarding for account owners.

• Integration:
  With clearly defined models and example responses, integrating with our Connected Accounts API is straightforward, allowing you to tailor the payment experience to your platform's needs.

By leveraging these endpoints and models, you can seamlessly integrate and manage connected accounts, ensuring that each merchant on your platform has a robust and fully functional payment solution.

This page serves as a comprehensive guide to understanding and integrating our Connected Accounts within your platform. For further details, refer to our full API-documentation or contact API Support at support@kredd.it.