Payment Methods

API Reference

Payment Methods are used as funding sources and disbursement for payments in Mercoa. Some payment methods can only be used as a funding source, others can only be used as a disbursement, and some can be used for both.

If you are using your own payment rails, you will need to follow the bring your own payments guide to set up your payment methods.

The following table shows the available payment methods and their capabilities.

Payment MethodFunding SourceDisbursement MethodAvailable
Bank AccountYesYesYes
Credit/Debit CardYesNoYes
Virtual CardNoYesLater

Bank Account

Bank Accounts can be considered the default payment method in Mercoa. They can be used as a funding source and disbursement method.

Create a Bank Account via Component

If you are using the Mercoa Embed or React Component, your customer can add a bank account directly in your application. When creating the JWT token, you will need to make sure the paymentMethods page is enabled.

Create a Bank Account via Plaid

You can also use Plaid to create a bank account. See this guide to learn how to add a Plaid integration to your frontend.

If you are already using Plaid in your application, you can use existing Plaid access tokens to create a bank account. This feature is coming soon!

Create a Bank Account with the API

To create a bank account via API, you need to provide the following information:

  • Account Number
  • Routing Number
  • Account Type (Checking or Savings)
1curl -X POST \
2 -H "Authorization: Bearer <token>" \
3 -H "Content-Type: application/json" \
4 -d '{
5 "type": "bankAccount",
6 "accountNumber": "99988767623",
7 "accountType": "CHECKING",
8 "routingNumber": "12345678"

Using a Bank Account as a Funding Source

To use a bank account as a funding source, you need to prove ownership of the account. If the account is added via Plaid, this is automatic. Otherwise, this is done by depositing a small amount of money into the account and verifying that the amount matches the amount deposited. This is done by calling the Initiate Micro Deposit endpoint and then the Verify Micro Deposit endpoint with the appropriate amounts.

Using a Bank Account as a Disbursement Method

Bank accounts do not need to be verified to be used as a disbursement method.