Update Merchant Registration Data

Key Features:

Registration Information

Data provided at the root of the request body (e.g., first_name, business_name) pertains to the Principal Signer/Control Owner or the business itself.

Additional Representatives/Beneficial Owners:

If there are Additional Representatives or Beneficial Owners, include their information in the meta.representatives array.
Each representative should be provided as an object containing their details.

Electronic Signature

This field should contain the HTML content of the terms and conditions.

Retrieve the terms and conditions using the Retrieve Terms and Conditions endpoint.

Include this content to capture the merchant's agreement to the terms during the enrollment process.

Auto-Verification

Determines whether to run automatic verifications on the registration information.

Verifications help confirm the accuracy of the merchant's information and identify any additional documents required.

Types of Verifications:

Person Identification and SSN Verification:

Run on the principal and any beneficial owners.
Validates personal information against external databases.

Business Identification and Banking Verification:

Run on the business information.
Ensures that the business is legitimate and that banking details are correct.

If a verification fails, the relevant registration documents will be enabled.

Federal Compliance

As of May 11, 2018, you must provide information on Control Owners and Beneficial Owners (individuals owning 25% or more of the entity).

Requirements:

Provide information on any additional representatives if any individuals directly or indirectly own 25% or more of the entity.
Ensure that all necessary personal and ownership details are included for compliance.

Self-Registration Field Permissions

Control the visibility and editability of fields during the self-registration process, particularly when using Stax's hosted Signup Pages.

Automatic Field Hiding:

Set hide_prefilled_fields: true in your payload to automatically hide any fields that are prefilled via the API. This streamlines the registration process by only displaying fields that require the merchant's input.

Manual Field Control:

Use the field_permissions object within the registration parameter to manually set permissions for specific fields.

Field Permission Options:

null: Field will be hidden.
read: Field will be read-only.
write: Field will be writable (default behavior).

If all fields in a given section are hidden, the entire section or page will be hidden from the front-end user interface.

If all fields for a given page have been prefilled and hidden, the page will be removed from the sidebar tracker in the self-registration application.

Hidden fields with values passed in will not be visible on the review step.

Important Considerations

Data Accuracy

Ensure all provided information is accurate to prevent delays in the underwriting process.
Inaccurate or incomplete data may lead to failed auto-verifications and additional document requirements.

Compliance Requirements

Be thorough in collecting information on all required representatives to meet federal regulations.
Missing information on beneficial owners can result in application rejections.