Implement your marketplace solution

Data requirements

• identifier: Provide Seller ID on the platform.
• account_details.business_details.industry_category_code: Industry category code for your business.
• account_details.business_details.url: URL(s) for your store.
• primary_contact.email: Primary contact details for your business.
• customer_agreements.terms_and_conditions.service_agreement_type: Set this to RECIPIENT.

In addition to the information provided for All sellers, provide the following data for sellers who have a registered business.

Data requirements

• account_details.business_details.business_structure: Set this to COMPANY or SOLE_PROPRIETOR.
• account_details.business_details.business_name: Legal entity name.
• account_details.business_details.business_name_trading: Trading/DBA name.
• account_details.business_details.registration_address.country_code: Country where the business is registered.
• account_details.business_details.business_identifiers.*: Provide country_code, number (Business Registration Number (BRN) or equivalent business identifier) and type.

In addition to the information provided for All sellers, provide the following data for sellers who do not have a registered business.

Data requirements

• account_details.business_details.business_structure: Set this to NON_REGISTERED_SOLE_PROPRIETOR.
• account_details.business_address.country_code: Country where seller's business operates.
• account_details.business_person_details.first_name: Seller's first name.
• account_details.business_person_details.last_name: Seller's last name.
• account_details.business_person_details.date_of_birth: Seller's date of birth.
• account_details.business_person_details.roles: Business person role.
• account_details.business_person_details.identifications.primary.*:
  • ID number for any of the identification documents: drivers_license / passport / personal_id / tax_id
  • identification_type: One of DRIVERS_LICENCE, PASSPORT, PERSONAL_ID, TAX_ID
  • issuing_country_code

To complete the account creation, platform needs to collect terms and conditions acceptance from sellers for the use of ledger.

Refer to the following resources for detailed information:

• Recipient agreement
• Collect T&C acceptance guide

If terms & conditions are agreed upon after account creation, use Agree to Terms and Conditions API.

Accounts may be updated in stages using Update a connected account API. After all the required information has been collected, call Submit account for activation API.

If the information provided fulfils the requirements determined in Step 1, the account status will be updated to SUBMITTED.

To create a beneficiary based on the seller’s bank information, use Create a beneficiary API and ensure to log the beneficiary_id.

This method uses Airwallex as the payment service provider (PSP) to acquire funds and deposit them into the seller’s ledger account. It is the recommended approach for clear funds flow and compliance.

Key steps:

1. Collect payments: Use Airwallex’s acquiring API to process payments directly from buyers.
2. Split funds: After payment collection, split the funds between the seller and the platform using the Funds Split API.
3. Deposit to ledger account: Allocate the seller’s portion to their ledger account using the account_id.

Refer to these resources for detailed information.

• Use Airwallex’s Online Payments: Process payments and manage funds
• Fund Split to ledger: Create funds split

When using a third-party PSP, additional steps are required to ensure compliance and accurate funds flow.

Key steps:

1. Set up a holding account: Establish a holding account to receive funds from the third-party PSP.
2. Split funds: Use Airwallex’s PSP-agnostic APIs to split the funds and allocate the seller’s share to their ledger account.
3. Deposit to ledger account: Transfer the seller’s portion from the holding account to their ledger account using the account_id.

Refer to the following resources for detailed information.

• PSP-Agnostic Setup: Get started with PSP-agnostic solutions
• Handle Settlements: PSP-agnostic solution for settlements

Call create a transfer API with the required information.

• x-on-behalf-of header: Specify the account_id of the seller’s ledger account in the request header.
• payer object: Include the platform’s information in the payer object to display the platform’s name in the bank transfer record.

For detailed information on the payload, see product docs.