Integrating with Plaid for Merchant Onboarding

Created by Richard Moore, Modified on Tue, 19 Sep 2023 at 01:29 PM by Richard Moore

When Exact onboards a new merchant we use Plaid to validate the deposit bank account provided during Merchant onboarding. Once the bank account is validated the details are encrypted and stored in Exact's database, creating a funding source for future payouts.

Please register for a Plaid account if planning to integrate plaid as a verification mechanism within your platform.

Exact requires Plaid'spublic_tokento be presented in ourplaidAccessTokenfield via Exact'sCreateOnboardingendpoint.

Refer to Step 1 and 2 from Plaid's Quickstart Guide, below:

When an Exact Partner calls Plaid’s/link/token/createendpoint (as shown in Step 1 in the above diagram) they have to provide the client id which they can provide the name of the merchant.

Then the
link_token generatedin Step 1 can be used to get thepublic_token Thepublic token is required for Onboarding.

ExactPay then will exchange the
public_tokenwith theaccess_tokenfrom Plaid. Theaccess_tokenwill then be used to do underwriting checks on the merchant being onboarded.

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