Embedded Payments

Collect indirect ownership information

Indirect ownership refers to a scenario where an individual or entity owns a stake in a business not directly, but through one or more intermediary entities. In other words, the ownership is held via a chain of entities, rather than a direct, first-layer relationship with the business.

The following illustration shows an indirect ownership structure. Collect all entities and individuals marked in blue.

Ownership information to collect

For the business to be onboarded, collect the following individual or entities from their ownership chain:

Individual beneficial owners who own, directly or indirectly, 25% or more of the business to be onboarded.
Intermediary owners (entities in the ownership chain) who own, directly or indirectly, 25% or more of the business to be onboarded.

Collect the following information for an Intermediary owner:

Required fields for intermediary owner
Fields	Required value
partyType	ORGANIZATION
roles	INTERMEDIARY_OWNER
organizationType	The legal classification of the entity.
organizationName	The legal name of the entity.
organizationIds	The government-issued ID. Required details: type, value, and issued country.
countryOfFormation	The country in which the entity was formed or domiciled.
addresses	The legal business address of the entity.
natureOfOwnership	"Direct" if directly associated with the business to be onboarded; "Indirect" if not directly associated.

How it works

You can create an indirect ownership structure using one of the following approaches:

Two step approach:
- Step 1 : Use POST /clients to create the business to be onboarded, controller, and individual or entities of direct ownership in single API call.
- Step 2 : Use POST /parties to create each individual or entity of indirect ownership in separate API calls.
Multi-step approach:
- Step 1 : Use POST /clients to create the business to be onboarded.
- Step 2 : Use POST /parties to create each individual or entity of direct ownership in separate API calls.
- Step 3 : Use POST /parties to create each individual or entity of indirect ownership in separate API calls.

Two step approach

Step 1: Use POST /clients to create the business to be onboarded, controller, and individual or entities of direct ownership in single API call.

Sample payload:

Json

{
  "parties": [
    {
      "partyType": "ORGANIZATION",
      "roles": [
        "CLIENT"
      ],
      "organizationDetails": {
        "organizationType": "C_CORPORATION",
        "organizationName": "Central Park Coffees & Cookies",
        "addresses": [
          {
            "addressType": "BUSINESS_ADDRESS",
            "addressLines": [
              "123 Central St"
            ],
            "city": "Palo Alto",
            "state": "CA",
            "postalCode": "94303",
            "country": "US"
          }
        ],
        "yearOfFormation": "1984",
        "countryOfFormation": "US",
        "dbaName": "Central Park Coffee",
        "naics": "334416",
        "organizationDescription": "We bake fresh cookies and coffee for everyday breakfast needs.",
        "phone": {
          "phoneType": "BUSINESS_PHONE",
          "phoneNumber": "6502694433",
          "countryCode": "+1"
        },
        "organizationIds": [
          {
            "idType": "EIN",
            "value": " 184102294",
            "issuer": "US"
          }
        ]
      }
    },
    {
      "partyType": "ORGANIZATION",
      "roles": [
        "INTERMEDIARY_OWNER"
      ],
      "organizationDetails": {
        "organizationType": "C_CORPORATION",
        "organizationName": "Central Park Cookie",
        "addresses": [
          {
            "addressType": "LEGAL_ADDRESS",
            "addressLines": [
              "124 Central Se"
            ],
            "city": "Palo Alto",
            "state": "CA",
            "postalCode": "94303",
            "country": "US"
          }
        ],
        "countryOfFormation": "US",
        "natureOfOwnership": "Direct",
        "organizationIds": [
          {
            "idType": "EIN",
            "value": " 050110294",
            "issuer": "US"
          }
        ]
      }
    },
    {
      "partyType": "INDIVIDUAL",
      "roles": [
        "CONTROLLER"
      ],
      "email": "foobar@example.com",
      "individualDetails": {
        "firstName": "Chandler",
        "lastName": "Bing",
        "birthDate": "2001-01-01",
        "addresses": [
          {
            "addressType": "RESIDENTIAL_ADDRESS",
            "addressLines": [
              "124 Candy St"
            ],
            "city": "Palo Alto",
            "state": "CA",
            "postalCode": "94303",
            "country": "US"
          }
        ],
        "countryOfResidence": "US",
        "individualIds": [
          {
            "idType": "SSN",
            "value": " 437381498",
            "issuer": "US"
          }
        ]
      }
    },
    {
      "partyType": "INDIVIDUAL",
      "roles": [
        "BENEFICIAL_OWNER"
      ],
      "individualDetails": {
        "firstName": "Monica",
        "lastName": "Geller",
        "birthDate": "2000-10-01",
        "addresses": [
          {
            "addressType": "RESIDENTIAL_ADDRESS",
            "addressLines": [
              "125 Candy St"
            ],
            "city": "Palo Alto",
            "state": "CA",
            "postalCode": "94303",
            "country": "US"
          }
        ],
        "countryOfResidence": "US",
        "natureOfOwnership": "Direct",
        "individualIds": [
          {
            "idType": "SSN",
            "value": " 050110337",
            "issuer": "US"
          }
        ]
      }
    }
  ],
  "products": [
    "EMBEDDED_PAYMENTS"
  ]
}

Step 2: Use POST /parties to create each individual or entity of indirect ownership in separate API calls. For each party, populate the immediate parent’s ID in the parentPartyId field. The value could be obtained from Step 1. Repeat this step for each layer in the ownership chain.

Json

{
  "partyType": "ORGANIZATION",
  "parentPartyId": "2001483190",
  "roles": [
    "INTERMEDIARY_OWNER"
  ],
  "organizationDetails": {
    "organizationType": "C_CORPORATION",
    "organizationName": "Cookie Co.",
    "addresses": [
      {
        "addressType": "LEGAL_ADDRESS",
        "addressLines": [
          "124 Central Se"
        ],
        "city": "Palo Alto",
        "state": "CA",
        "postalCode": "94303",
        "country": "US"
      }
    ],
    "countryOfFormation": "US",
    "natureOfOwnership": "Indirect",
    "organizationIds": [
      {
        "idType": "EIN",
        "value": " 134994650",
        "issuer": "US"
      }
    ]
  }
}

Json

{
  "partyType": "INDIVIDUAL",
  "parentPartyId": "2001472558",
  "roles": [
    "BENEFICIAL_OWNER"
  ],
  "individualDetails": {
    "firstName": "Rachel",
    "lastName": "Green",
    "birthDate": "1999-01-01",
    "addresses": [
      {
        "addressType": "RESIDENTIAL_ADDRESS",
        "addressLines": [
          "125 Candy St2"
        ],
        "city": "Palo Alto",
        "state": "CA",
        "postalCode": "94303",
        "country": "US"
      }
    ],
    "countryOfResidence": "US",
    "natureOfOwnership": "Indirect",
    "individualIds": [
      {
        "idType": "SSN",
        "value": " 214994652",
        "issuer": "US"
      }
    ]
  }
}

Multi-step approach

Step 1: Use POST /clients to create the business to be onboarded.

Sample payload:

Json

{
  "partyType": "ORGANIZATION",
  "roles": [
    "CLIENT"
  ],
  "organizationDetails": {
    "organizationType": "C_CORPORATION",
    "organizationName": "Central Park Coffees & Cookies",
    "addresses": [
      {
        "addressType": "BUSINESS_ADDRESS",
        "addressLines": [
          "123 Central St"
        ],
        "city": "Palo Alto",
        "state": "CA",
        "postalCode": "94303",
        "country": "US"
      }
    ],
    "countryOfFormation": "US",
    "dbaName": "Central Park Coffees & Cookies",
    "naics": "334416",
    "organizationDescription": "We bake fresh cookies and coffee for everyday breakfast needs.",
    "organizationIds": [
      {
        "idType": "EIN",
        "value": "184102294",
        "issuer": "US"
      }
    ]
  },
  "products": [
    "EMBEDDED_PAYMENTS"
  ]
}

Step 2: Use POST /parties to create each individual or entity of direct ownership in separate API calls. For each party, populate the immediate parent’s ID in the parentPartyId field.

Sample payload:

Json

{
  "partyType": "ORGANIZATION",
  "roles": [
    "INTERMEDIARY_OWNER"
  ],
  "organizationDetails": {
    "organizationType": "C_CORPORATION",
    "organizationName": "Central Park Cookie",
    "addresses": [
      {
        "addressType": "LEGAL_ADDRESS",
        "addressLines": [
          "124 Central Se"
        ],
        "city": "Palo Alto",
        "state": "CA",
        "postalCode": "94303",
        "country": "US"
      }
    ],
    "countryOfFormation": "US",
    "natureOfOwnership": "Direct",
    "organizationIds": [
      {
        "idType": "EIN",
        "value": "050110294",
        "issuer": "US"
      }
    ]
  }
}

Json

{
  "partyType": "INDIVIDUAL",
  "parentPartyId": "2001483191",
  "roles": [
    "BENEFICIAL_OWNER"
  ],
  "individualDetails": {
    "firstName": " Monica",
    "lastName": "Geller",
    "birthDate": "2000-10-01",
    "addresses": [
      {
        "addressType": "RESIDENTIAL_ADDRESS",
        "addressLines": [
          "125 Candy St"
        ],
        "city": "Palo Alto",
        "state": "CA",
        "postalCode": "94303",
        "country": "US"
      }
    ],
    "countryOfResidence": "US",
    "natureOfOwnership": "Direct",
    "individualIds": [
      {
        "idType": "SSN",
        "value": "050110337",
        "issuer": "US"
      }
    ]
  }
}

Step 3: Use POST /parties to create each individual or entity of indirect ownership in separate API calls. For each party, populate the immediate parent’s ID in the parentPartyId field.

Sample payload:

Json

{
  "partyType": "ORGANIZATION",
  "parentPartyId": "2001483190",
  "roles": [
    "INTERMEDIARY_OWNER"
  ],
  "organizationDetails": {
    "organizationType": "C_CORPORATION",
    "organizationName": "Cookie Co.",
    "addresses": [
      {
        "addressType": "LEGAL_ADDRESS",
        "addressLines": [
          "124 Central Se"
        ],
        "city": "Palo Alto",
        "state": "CA",
        "postalCode": "94303",
        "country": "US"
      }
    ],
    "countryOfFormation": "US",
    "natureOfOwnership": "Indirect",
    "organizationIds": [
      {
        "idType": "EIN",
        "value": "134994650",
        "issuer": "US"
      }
    ]
  }
}

Json

{
  "partyType": "INDIVIDUAL",
  "parentPartyId": "2001483191",
  "roles": [
    "BENEFICIAL_OWNER"
  ],
  "individualDetails": {
    "firstName": "Rachel",
    "lastName": "Green",
    "birthDate": "1999-01-01",
    "addresses": [
      {
        "addressType": "RESIDENTIAL_ADDRESS",
        "addressLines": [
          "125 Candy St2"
        ],
        "city": "Palo Alto",
        "state": "CA",
        "postalCode": "94303",
        "country": "US"
      }
    ],
    "countryOfResidence": "US",
    "natureOfOwnership": "Indirect",
    "individualIds": [
      {
        "idType": "SSN",
        "value": "214994652",
        "issuer": "US"
      }
    ]
  }
}