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Merchants

A merchant is the business receiving stablecoin payments. Each merchant has a verified identity, a linked bank account for USD settlement, and an on-chain proxy contract that receives payments.

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Onboarding Flow

Today, merchants onboard through the Stable Genius dashboard. The process takes approximately 10 minutes:
1

Create Account

Merchant signs up with email and creates their business profile.
2

Identity Verification (KYC/KYB)

Merchant completes identity verification. Individual merchants provide government ID and selfie. Business merchants provide EIN and business documentation.
3

Link Bank Account

Merchant connects their bank account via Plaid for instant verification, or enters details manually. This is where USD settlements are deposited.
4

Ready to Accept Payments

A non-custodial proxy contract is deployed on-chain. The merchant receives their merchant_id and can start processing payments.
Programmatic merchant onboarding via API is on our roadmap. This will allow integrators to create and onboard merchants without the dashboard. Request early access to be notified when this launches.

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Merchant Object

{
  "id": "mer_abc123",
  "object": "merchant",
  "business_name": "Bay Area Organic Farm",
  "email": "owner@bayareaorganics.com",
  "status": "active",
  "kyc_status": "approved",
  "payout_method": "bank_account",
  "bank_account": {
    "bank_name": "Wells Fargo",
    "last_4": "0468",
    "status": "verified"
  },
  "payment_address": "0x1a2b3c4d5e6f...abcdef",
  "chain": "base",
  "settlement_schedule": "weekly_monday",
  "fee_rate": 0.01,
  "created_at": "2026-03-15T10:00:00Z"
}

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Merchant Status

StatusDescription
onboardingAccount created but KYC or bank not yet complete.
activeFully verified and accepting payments.
suspendedTemporarily suspended (e.g., failed bank transfers).
deactivatedMerchant or admin deactivated the account. Data retained per compliance requirements.

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Settlement Configuration

Each merchant has a configurable settlement schedule:
ScheduleDescription
weekly_mondayAutomatic ACH transfer every Monday at 8am EST (default).
manualMerchant triggers withdrawals from the dashboard.
Settlement timing after transfer initiation is 1-3 business days (standard ACH).

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Fees

The default fee rate is 1% per transaction, deducted at settlement time on-chain. The merchant receives the net amount in their proxy contract.
AmountFee (1%)Net to Merchant
$10.00$0.10$9.90
$4.50$0.045$4.455
$100.00$1.00$99.00
Fees are split on-chain via the merchant’s GenieIntake proxy contract. Both the fee and the net amount are verifiable on Basescan.

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Multiple Merchants per Integrator

Integrators can manage multiple merchants through a single API key. Each payment intent specifies which merchant_id receives the payment. This enables platform-level integrations where one system processes payments for many merchants.