Accounts
Learn about the different types of accounts you can create on xenPlatform
The first step to using xenPlatform is to create accounts that are linked to your business. The balance and transactions of these accounts are recorded separately from your Platform. This separation allows you to easily keep track of payments that you facilitate for the Partners that you work with.
There are 2 types of accounts that are available:
- Owned accounts - accounts that are invisible to your Partners and fully controlled by you
- Managed accounts - Partners get a full Xendit account that you can transact on behalf of
These 2 accounts types are designed for different use cases. If none of these types suit your use case, you can also customize the account configurations by creating the account via API. Here are the differences and suggested use cases below:
| Owned | Managed | Custom | |
|---|---|---|---|
| Description | Accounts that are invisible to your Partners and fully controlled by you | Partners get a full Xendit account that you can transact on behalf of | Can be configured to suit different use cases |
| Best for | Platforms that want to get started accepting payments for their Partners quickly with minimal documentation collection overhead | Platforms that want to enable their Partners to provide a highly customized payments experience to end-customers | When neither type suits the Platform's use case |
| Do your Partners need to submit information to Xendit for onboarding? | No | Yes | Configurable * |
| Whose information displayed to the public? (e.g. on credit card statements, ewallet apps, etc.) | Platform | Partner | Configurable * |
| Who has the ability to specify payout schedules? | Platform | Platform or Partner | Platform or Partner |
| How can Partners access the Xendit Dashboard? | Invite Partners to access the Dashboard after the account is created. Learn more on the following page | Partners automatically get access when the account is created | Configurable * |
| Who pays Xendit transaction fees? | Platform | Partner | Configurable * |
| How do I set webhook URLs for Partner accounts? | The webhook settings on the Platform account will automatically synchronize to your Owned accounts | Your Partner can manage their webhook settings independently from the Managed account's dashboard or via API | Configurable * |
* These settings depend on the payment_settings_follow_platform custom account configuration. Detailed explanation available below.
Custom Account Configurations
When creating your account via API, you can set different configurations below instead of choosing a type.
| Configuration | Description |
|---|---|
| has_dashboard | Determines whether dashboard access will be enabled. An invitation will be sent to the sub-account's email address to sign up and login. |
| payment_settings_follow_platform | Determines whether the sub-account will use the Platform's activated payment methods. If "true", the Xendit invoice and webhooks will be sent to the Platform, and the name of the business shown to the public will be the Platform's. |
| has_withdrawal | Determines whether withdrawals will be enabled for the sub-account. This will require the account to complete activation upon login. |
If you need more guidance, please contact us for a free consultation.
Last Updated on 2024-04-16