Limit profiles are one of the important sets of configurations linked to the merchant while the merchant onboarding process. Payfac can have multiple set of master limit profile plans which can be linked to the merchants based on different parameters & details provided by the merchant.
Limit profile APIs can help PayFac to create a limit profile, these profiles can be fetched, modified, or deleted using their limit profile id. PayFac can check the status for the configured limit profile. PayFac can also configure & fetch the limit specific to the merchant while merchant onboarding.
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 an individual organization’s existing payments portfolio.
For support and guidance on aligning asset to the production environment and questions related to compatibility with the product, please contact Opus by emailing email@example.com
Here the merchant is getting onboarded on Payfac platform to start their business,
-Merchant fills up an application form and will provide 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