Account Structure
Finix is composed of several objects and resources that work together and get updated based on the transaction at hand.
This guide details those different resources and how they make changes to one another to process payments.
Account Overview
When you sign up for Finix, you get a pair of credentials that you use to setup your Finix Dashboard or create requests with Finix's API. Due to the sensitive nature of these credentials, access is tightly controlled.
Users have three potential roles in Finix, which provide different levels of access:
Role | Permissions |
---|---|
ROLE_PLATFORM |
|
ROLE_PARTNER |
|
ROLE_MERCHANT |
|
Finix ROLE_PLATFORM
credentials have the highest levels of access and offer the most customizability. However, more developer work is involved, and ROLE_PLATFORM
users are held liable for more responsibilities like approving Settlements
.
- Finix Flex customers receive ROLE_PARTNER credentials.
- Finix Core customers receive ROLE_PLATFORM credentials.
If you have any questions about the credentials you receive, reach out to your Finix point of contact or Finix Support.
Resources
Applications
The Application
resource represents your app or platform. This could be an iOS or Android app, a website, an online marketplace, a SaaS platform, etc. Any web service that connects buyers (i.e. customers) and sellers (i.e. merchants).
In other words, an Application
is a resource that represents the program that's integrating with Finix and merchants are using to connect with customers (i.e. buyers).
Authorizations
An Authorization
resource represents a charge or card hold made by a Merchant
to verify the buyer's payment method has the necessary funds.
When an Authorization
gets created, a specific amount gets reserved on the Payment Instrument
associated with the Identity
that represents the buyer. The amount gets captured (i.e. debited) at a later date, usually within 7 days.
When an Authorization
gets captured, a Transfer
resource gets created to process the movement of funds.
Identities
The Identity
resource represents either a buyer or a merchant.
-
Sales (called
Transfers
) and payment methods (calledPayment Instruments) get created under and linked with an
Identity`. -
The
Identity
resource helps manage payments, payment methods, bank accounts, transaction history, identity verification, and payouts between buyers and merchants.
Merchants
The Merchant
resource represents a business, such as a web service that connects buyers (i.e. customers) and sellers (i.e. merchants) and the account created for them with our payment processor.
A Merchant
is created under an Identity
(or a collection of Identity
resources) and is used to process buyers' credit cards and receive Merchant Identification Numbers (MIDs) from our payment processor.
Payment Instruments
The Payment Instrument
object represents a payment method (a credit card, bank account, token etc.).
A Payment Instrument
gets created under an Identity
and can only get linked to that one Identity
. Once created, a Payment Instrument
can't be disconnected from the Identity
it was created under.
When a Payment Instrument
gets created, the payment method details get tokenized, and a unique Payment Instrument
ID gets created that represents the payment method in Finix moving forward.
Settlements
A Settlement
resource represents a collection (i.e. batch) of Transfers
that will get paid out to a Merchant
.
Merchants get paid out when settlements are approved by either the platform (Finix Core only) or Finix. For more information, see Payouts.
Transfers
A Transfer
resource represents any flow of money from one Payment Instrument
to another.
An Authorization
always creates a Transfer
when captured; however, Transfers
can get created for other reasons, including processing refunds, reversals, and paying out merchants.