How do I add recipients via API integration?

Clients may decide to host a W9 form of recipients during their onboarding process to collect information and payment methods that will then be transmitted to Velo via API calls.

 

There are four steps for this implementation:

  1. Display links to Velo's Terms of Service and Privacy Policy
  2. Provide opt-in checkbox to Velo's Terms of Service
  3. Implement data collection and transmission
  4. Provide screenshots to Velo for review

 

Display links to Terms of Service and Privacy Policy

Links to Velo's Terms of Service and Privacy Policy must be displayed during the recipient onboarding process. 

Recipient Term should link to https://gobold.com/terms and Privacy Policy should link to https://gobold.com/privacy

 

Provide opt-in checkbox to Velo's Terms of Service

In the signup flow, also include an opt-in checkbox to Terms of Service with the following language:

Payment processing services are provided by Velo-Payments, Inc. (the "Payment Processor") and are subject to the Velo Recipient Terms, which constitute a legal agreement between you and the Payment Processor. By agreeing to these terms or continuing to operate an account, you agree to be bound by the Velo Recipient Terms, as the same may be modified by the Payment Processor from time to time. 

 

Implement data collection and transmission

Collect W9 information and payment preference from recipients. The W9 form should include: Recipient type (company or individual), company name (if applicable), first and last name (if applicable), email, address, city, state, postal code, and tax ID.

Payment preferences will be dependent on payout method selected.

  • Bank - bank routing number (9 digits), bank account number
  • Check - address, city, state, postal code

Recipient information will then need to be transmitted to Velo via the Add Recipient API call.

 

Clients must include 3 extra API parameters to implement hosted onboarding: skip_onboarding=true, accepted_terms=true, accepted_terms_ip[recipient's IP address]

POST /v1/recipients
{
  "remote_id": "jsmith@email.com",
  "first_name": "Jacob",
  "last_name": "Smith",
  "email": "jsmith@email.com",
  "type": "individual",
  "address": "123 Main St",
  "city": "San Francisco",
  "state": "CA",
  "postealcode": "94133",
  "country": "US",
  "skip_onboarding": "true",
  "accepted_terms": "true",
  "accepted_terms_ip": "80.0.1.22"
}

Payment preferences then need to be transmitted to Velo via the Add Wallet API call.

POST /v1/wallets

{
  "remote_id": "jsmith@email.com",
  "type": "bank",
  "routing_number": "021000021",
  "account_number": "42340005737"
}

For more information about Velo's API suites, click here.

 

Provide screenshots to Velo for review

Finally, clients must submit screen shots of the key onboarding pages to Velo at support@velopayments.com for review and approval.

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