For a comprehensive guide on Child Accounts Onboarding, please head on to our Developer Documentation at https://developers.paymongo.com/docs/child-accounts-onboarding/
For platforms and marketplaces leveraging PayMongo Platforms, efficiently onboarding your sub-merchants (Child Merchants) is key to expanding your ecosystem. This article provides a comprehensive overview of the two primary methods PayMongo offers for sub-merchant onboarding: Hosted Onboarding for a streamlined, no-code solution, and the Onboarding API for complete customization and automation. Understanding these options will help you choose the best approach for integrating your Child Accounts onto your platform.
Prerequisites for Onboarding Sub-Merchants
Activated PayMongo Platforms Account (Parent Merchant): Your primary PayMongo account must be set up and configured for PayMongo Platforms. If you are not yet using PayMongo Platforms, please refer to our article: Introducing PayMongo Platforms: Empowering Marketplaces and Multi-Merchant Businesses.
Developer Resources (for Onboarding API): If you plan to use the Onboarding API, you will need a development team familiar with API integrations.
Defined KYC Requirements: Understand the Know Your Customer (KYC) documentation and information required for the types of Child Accounts you wish to onboard (e.g., businesses vs. individual consumers).
Understanding Your Sub-Merchant Onboarding Options
Hosted Onboarding (Streamlined, No-Code Solution)
Hosted Onboarding provides a quick and easy way to collect KYC information from your Child Accounts through a PayMongo-managed web form.
How it Works: As the Parent Merchant, you generate a unique, secure KYC form link from your PayMongo Dashboard. You then send this link to your Child Account. The Child Account simply clicks the link, provides their necessary documents and information directly on the hosted form, and submits it. PayMongo handles the form display and data collection securely.
Key Benefits for Parent Merchants:
No Code Required: Ideal for platforms that prefer a ready-made solution without development effort for the onboarding flow.
Speed & Ease of Use: Expedites the KYC process for your Child Accounts, allowing them to onboard efficiently.
Secure & Compliant: Leverages PayMongo's secure infrastructure and ensures compliance with KYC regulations.
Streamlined KYC Collection: Centralizes the gathering of required information.
Current Support: As of now, Hosted Onboarding primarily supports Consumer accounts (individuals who can store and transfer funds with a PayMongo Wallet). Support for Child Merchants (businesses accepting payments) is coming soon.
Onboarding API (Customizable, Automated Solution)
The Onboarding API allows for a fully automated and deeply integrated onboarding experience, giving you complete control over the KYC process within your own platform.
How it Works: Your development team will use PayMongo's API endpoints to build a custom onboarding flow directly into your website or application. This means you control the user interface, data collection, and submission process programmatically, leveraging PayMongo's API for the backend verification and compliance.
Key Benefits for Parent Merchants:
Full Customization: Design the onboarding journey to seamlessly match your platform's branding and user experience.
Automation: Automate the submission of KYC information and documents, reducing manual effort.
Expedited Activation: Accelerates the activation of your Child Merchants, giving them quicker access to PayMongo's payment and wallet features.
Scalability: Ideal for platforms with a high volume of Child Accounts requiring onboarding.
Current Support: The Onboarding API supports both Child Merchants (businesses selling goods/services and accepting payments) and Consumer accounts.
Technical Requirement: This option requires significant development effort to build and maintain the integration.
Note: The Onboarding API feature is currently in beta. You may need to contact
[email protected]to enable this functionality for your account.
Choosing the Right Onboarding Method
Consider the following when deciding between Hosted Onboarding and the Onboarding API:
Feature/Consideration | Hosted Onboarding (No-Code) | Onboarding API (Customizable) |
Development Effort | Minimal to None | Significant (requires developer resources) |
Customization | Limited (basic branding) | Full control over UI and workflow |
Speed to Implement | Fastest for basic onboarding | Faster for large-scale, automated onboarding after initial setup |
Account Types Supported (Currently) | Primarily Consumers (Child Merchants coming soon) | Child Merchants and Consumers |
Use Case | Quick setup, simple onboarding for individual users | Automated, high-volume onboarding for businesses, seamless UX |
Key Information for Sub-Merchants During Onboarding
Regardless of the method you choose, your sub-merchants (Child Accounts) will generally go through the following steps to complete their KYC:
Basic Details: Provide initial personal or business information.
Identity Verification: Upload a valid ID and complete a selfie verification for identity confirmation.
Additional Personal/Business Details: Submit any other required information based on their account type (e.g., business documents for Child Merchants).
Review and Finalize: Review all provided information before submitting for final review.
E-signature: Provide an e-signature to agree to PayMongo's terms and conditions.
Review Period: PayMongo's onboarding team typically takes up to 14 days to review and activate a Child Account's application.
Monitoring Status: You can monitor the status of your Child Accounts in the "Platforms" section of your PayMongo Dashboard or by subscribing to our Platforms Webhook for real-time updates.
Managing and Monitoring Onboarded Sub-Merchants
Once your Child Accounts are activated, they gain access to various PayMongo features based on their activated account type. As a Parent Merchant, you can:
View all your Child Accounts and their statuses under the "Platforms" page of your dashboard.
Receive webhook events (e.g.,
merchant.activated,consumer.activated,merchant.declined,consumer.declined) to track their onboarding progress programmatically.
Note: For any configuration requests related to PayMongo Platforms or its onboarding features, please contact [email protected].