Merchant

The Merchant represents the commercial entity that needs to receive payments from its customers.

This entity stores specific merchant information, such as the name, address, and bank account details to which the funds will be directed, among other details.

In the Transfer payment mode, it is essential that these merchants first register with Binco as an initial step to effectively receive payments.

Examples of this entity could be a local kiosk or a branch of a supermarket chain.

Once created, the merchant must complete an onboarding process, where they provide information about their activity, and once completed, they can start operating.