Merchant Accounts are not relevant for most merchants. They are an advanced feature. Contact the Palomma team if you have questions or want to create more Merchant Accounts.

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What is a Merchant Account?

A Merchant Account is a virtual account that allow a merchant to discriminate balances within Palomma.

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The default Merchant Account

Every merchant has a default Merchant Account. The balance of this Merchant Account is the net between payins and payouts that the merchant has made.

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Example use case for more Merchant Accounts:

I am a merchant with three business clients (A, B, C). I process payments for these business clients and want to keep their money separate to make my bookkeeping easier. In this case, you can create three Merchant Accounts (one for each business client). Assume the ids of these Merchant Accounts are "MA-A", "MA-B", "MA-C". When you create Payin Links and Payin Requests, you can specify the targetMerchantAccountId. So targetMerchantAccountId = "MA-A" means that the payin amount will be added to business client A’s balance. Similarly, when you create Payout Requests, you can specify the sourceMerchantAccountId. So sourceMerchantAccountId = "MA-A" means that the payout amount will be subtracted from business client A’s balance. Specifying the Merchant Accounts in this way allows you to keep separate balances for each of the business clients.

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Automated withdrawl of funds from Merchant Account

With the normal behavior of a Merchant Account, the balance stays in your Merchant Account until you choose to withdraw those funds. If you want funds to be automatically withdrawn to a target bank account every day, we can configure this for you. Contact us!