Overview
Buyers represent the businesses who use financial services offered by the Payment Run Plug-in within your application. When using the Payment Run Plug-in a buyer can create a payment run, and send payments to their suppliers.
Due diligence
You need to onboard your customers onto Weavr before they can use any financial services.
Weavr lets you embed an identity verification process referred to as Know Your Business (KYB) for buyers. This process lets you seamlessly and securely verify your customer’s identity and all you need on your end is just a few lines of code. Weavr will ask your users to submit the necessary information and documentation so that they can get approved by our financial providers.
Due to financial regulations, every financial provider must perform due diligence on all buyers onboarded as customers.
Supported countries
Weavr supports onboarding corporates and consumers residing in the following countries:
| Austria | Belgium | Bulgaria | Croatia |
|---|---|---|---|
| Cyprus | Czech Republic | Denmark | Estonia |
| Finland | France | Germany | Greece |
| Hungary | Iceland | Ireland | Italy |
| Latvia | Liechtenstein | Lithuania | Luxembourg |
| Malta | Netherlands | Norway | Poland |
| Portugal | Romania | Slovakia | Slovenia |
| Spain | Sweden | United Kingdom |
Directors and UBOs of buyers registered in the above countries, may be of any nationality and can reside anywhere in the world.
Supported Open Banking institutions
Your buyer is first required to retrieve the supported open banking institutions that can be used to link an account and fund a payment run. Retrieving the institution list, ensures that your buyer are eligible to utilize the payment run plug-in.
Retrieving the supported Open Banking institutions is essential if you want your buyers to adopt Open Banking. Since not all banks support it, this step ensures compatibility and a smoother user experience.
If your buyers' bank doesn't support Open Banking, you can use the Manual Linking and Funding option. For more details, please refer to our documentation here.
Authorised users
Weavr supports 2 types of authorised users:
- Admin user is the individual who is creating the buyer identity. The admin user needs to be a legal representative of the buyer such as a director or a representative who has the power of attorney over the company.
- Authorised user is an individual with specific roles that has been invited by the admin user to manage the identity's Payment Runs.
Every buyer must always have one admin user, and optionally can have an unlimited number of authorised users.
Roles & permissions
Every user must have at least one role assigned, and each role will have a set of permissions linked to it. Below are a list of Roles and their associated permissions that define what users can do and what resources they can access.
Users can be assigned multiple roles if they are responsible of multiple processes.
Admin role
This role has the ability to create a business and ensuring that systems and processes are effectively managed. This role can:
- Create, modify or delete users
- Assign roles and permission to users
The Admin role cannot change the default currency or change the business owner.
Controller role
The Controller role manages the authorisation and funding of payment runs as well as the linked accounts.
They are responsible of ensuring that the payment instructions are correct, thus they need to have access to the business's bank accounts and be able to decide how the payment run is funded.
This role can:
- View, Confirm, Submit and Cancel Payment Runs
- Fund a Zero Balance Account
- Link, unlink and renew consents for Linked Bank Accounts
The Controller cannot assign roles to users.
Creator role
The Creator role is responsible for gathering payment requests, invoices, and payment instructions from various departments or stakeholders within the organization. They determine the timing of the payment run, considering factors such as payment terms and due dates. They create the payment run, which triggers the transfer of funds to the designated recipients, such as vendors or employees. This role can:
- Create, view, delete a Payment Run
The Creator cannot authorise payment runs.
Creating and updating an authorised user requires the user to step-up their token.
More details on how to step-up a token are available in our documentation..