Pay into merchant accounts

A merchant account is an account managed by Truelayer. You can have your users make payments into this account and later you can refund via payouts.

Get your merchant account

You can get your Truelayer managed merchant accounts by making a GET request to /merchant-accounts. A successful request would return

{
  "items": [
    {
      "id": "66e3fe90-59dd-44a5-b4b7-6831c9423756",
      "currency": "EUR",
      "scheme_identifiers": [
        {
          "type": "iban",
          "iban": "GB46CLRB04066200004401"
        }
      ],
      "available_balance_in_minor": 100000,
      "current_balance_in_minor": 100000,
      "account_holder_name": "ozum safaoglu"
    },
    {
      "id": "c54104a5-fdd1-4277-8793-dbfa511c898b",
      "currency": "GBP",
      "scheme_identifiers": [
        {
          "type": "sort_code_account_number",
          "sort_code": "040662",
          "account_number": "00004383"
        },
        {
          "type": "iban",
          "iban": "GB47CLRB04066200004383"
        }
      ],
      "available_balance_in_minor": 100000,
      "current_balance_in_minor": 100000,
      "account_holder_name": "ozum safaoglu"
    }
  ]
}

You can allow users to make payments into your merchant account by changing the beneficiary field in the request body when you create a payment.

The following example shows a request body to create a payment into your merchant account:

{
  "amount_in_minor": 1000,
  "currency": "GBP",
  "payment_method": {
    "type": "bank_transfer",
    "statement_reference": "ref",
        "provider_filter": {}
  },
  "user": {
    "type": "new",
    "name": "Remi Terr",
    "email": "[email protected]",
    "phone": "+44777777777"
  },
  "beneficiary": {
    "type": "merchant_account",
    "id": "{{merchant-account-id}}",
    "name": "Merchant Name"
  }
}

After your payment is successfully created, you can have it authorised the same way you would authorise payments into external payment accounts. However, payments into merchant accounts have a different set of terminal statuses. Instead of failed and successful, your payment can be failed, successful (in the case of a failed settlement) or settled.

You can find out more about payment statuses. You can fully or partially refund these payments using payouts.


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