Fee Profiles are the set of master fee plans which can be linked to the merchant while the merchant onboarding process. Fee profiles for the merchant can be configured at the merchant management system of payfac and can be used during the merchant settlement process.
Fee profile API group is having a set of APIs which can perform the below operations,
Create Fee Profile.
Modify Fee Profile.
Approve Fee Profile.
Get Fee Profile By Id.
Fetch List of Fee Profile.
Delete Fee Profile.
Fetch Card Fee Templates.
Fee Profile API set can help the Payfac platform to perform multiple operations with respect to the Fee profiles like create, fetch, modify & delete the fee profile. These APIs can also help to get the fee profile based on fee profile id & the newly created fee profile can be approved using the four-eyed system. While onboarding to the merchant the fee profiles will be linked to the merchant profile based on the agreement with the merchant.
This asset provides core functionality specific for integrations aligned to the individual processes described. Please consider this as a template for testing and early-stage development purposes, with production availability dependent on individual products and solutions within individual organization’s existing payments portfolio.
For support and guidance on aligning asset to a production environment and questions related to compatibility with the product, please contact Opus by emailing firstname.lastname@example.org
Here the merchant is getting onboarded on Payfac platform to start their business:
- Merchant fills up an application form and provides the necessary details for merchant verification & Onboarding.
- Merchant verification, risk assessment, KYC & credit scoring process will be completed based on application & documents.
If everything goes well, merchant details are configured and the merchant is assigned with merchant id, MCC & merchant is linked with the Fee Profiles & the Limit profiles as per the merchant business