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TB-1192 - Additional requ...
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Notice of change - Additional required fields to be provided when onboarding sub-TPPs

Issued: 18th July 2023 | TB-1192

Updated: 13th October 2023

Updated 16th November 2023

Updated 24th January 2023

The roll out of the additional required fields has been delayed to give customers more time to prepare.
The new dates are as follows:

  • Sandbox: 15th November 2023

  • Production: 30th January 2024

What's changing?

Token.io is making enhancements to simplify the onboarding process for all new sub-TPPs.

The following additional information must be provided during sub-TPP creation:

  • Legal entity name - full name of the merchant legal entity

  • Company registration number of the merchant legal entity - if the sub-TPP is a sole trader, enter 000 or N/A

  • Merchant primary use case - select from the drop-down list provided on the dashboard

  • IBAN of the merchant’s recipient bank account - the IBAN will be validated; it must be a valid IBAN and cannot be empty

The IBAN used will depend on the specific setup for each TPP/sub-TPP.

For example, this will be:

  • The sub-TPP's IBAN for cases where settlement is to the merchant.

  • The TPP's IBAN when the sub-TPP settles directly with the TPP.

  • A proxy for jurisdictions involved in the transaction.

Token.io checks the jurisdiction of the bank account and, where possible, confirms that the name on the account is valid; this name can be either the client's or the merchant's.

  • BIC of the merchant’s recipient bank account (optional)

Currently only IBAN and BIC are supported. Account numbers and sort codes will need to be converted.

The Domicile country field name is changing to Merchant jurisdiction on the dashboard and in the [API definition](../../api/reference/Sub-TPPs).

This information is for compliance purposes only. You'll still need to enter the correct account identifiers for your chosen payment rail in the payment request, e.g., iban and bic for sepa, sourceCode and accountNumber for fasterPayments.

Additional information will only be requested from existing sub-TPPs if the information has been found to be missing while undertaking Token.io's due diligence process.

Example code for the [POST /member/sub-tpps](../../api/reference/Sub-TPPs#operation/GatewayService.CreateSubTpp) request is shown below:

POST {{BASE_URL}}/member/sub-tpps request

{
    "domain": "somehost.example.com", // mandatory
    "logo": "b0Y5cVl6aDc3RkE5blZyQ24yamlh", // optional
    "merchant": {
        "merchantJurisdiction": "DE", // mandatory
        "legalEntityName": "Merchant Entity Name", // mandatory
        "companyRegistrationNumber": 123456789, // mandatory
        "primaryUseCase": "AIS : Accounting package integration", // mandatory
        "iban": "DE0000000000000000000", // mandatory
        "bic": "ABCDDE99" // optional
    },
    "name": "Sub-TPP Business Ltd", // mandatory
    "parentSubTppId": "6f34h397-b29h-23b0-s30g-hkd0d2dk4k1" // optional
}

You must use a valid IBAN and BIC if you're testing [POST /member/sub-tpps](../../api/reference/Sub-TPPs#operation/GatewayService.CreateSubTpp) in sandbox.

What problem will this solve?

Providing this information will streamline the process for onboarding sub-TPPs.

Does this change affect you?

This change applies to all TPP customers who use Token.io's license and are onboarding new sub-TPPs.

There is no impact to sub-TPPs that have already been onboarded.

What action do I need to take?

You'll need to update your current implementation to provide values for these fields.

When will this change apply to all impacted customers?

This change will become effective as follows:

  • Sandbox: 15th November 2023

  • Production: 30th January 2024

Where can I get further information?

For assistance with the above and other operational aspects of the Token.io Account-to-Account Infrastructure, please contact Token.io Support.

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