New marketplace object for Payment Processing Platform
In compliance with Visa’s mandate to support new foreign retailer indicator for marketplaces, Maya will be releasing changes to the Payments Processing Platform by April 5, 2023 that will affect the merchants classified as a marketplace and with MCC value 5262.
The objective of the mandate is to identify domestic transactions involving a marketplace retailer that is in a different country. This applies to all regions including CEMEA for all acquirers. To implement these API changes, kindly advise your developers, IT teams and/or tech teams on this activity.
What are the API changes?
The new API version will introduce a new object named marketplace under the merchant object that will soon be required to identified merchants on April 15, 2023.
This marketplace object should contain the details of the received of the transaction.
| Schema | Description | Sample Values |
|---|---|---|
$.merchant.marketplace | CONDITIONAL Object | |
$.merchant.marketplace.retailer | CONDITIONAL Object | |
$.merchant.marketplace.retailer.metadata.refNo | OPTIONAL string min 1 character max 36 characters | 0a888204-555a-4523-9601-5a8b23c907a3 |
$.merchant.marketplace.retailer.name | OPTIONAL string min 1 character max 64 characters | SomeRetailerName |
$.merchant.marketplace.retailer.address | REQUIRED Object | |
$.merchant.marketplace.retailer.address.alphaCountryCode | REQUIRED string max 3 characters must be a valid alpha-3 country code | PHL |
$.merchant.marketplace.retailer.address.city | OPTIONAL string max 64 characters | Mandaluyong |
$.merchant.marketplace.retailer.address.line1 | OPTIONAL string max 64 characters | 6F Launchpad Reliance St |
$.merchant.marketplace.retailer.address.postalCode | OPTIONAL string max 10 characters | 1550 |
$.merchant.marketplace.retailer.address.state | OPTIONAL string max 64 characters | Metro Manila |
Sample
{
...,
"merchant": {
...,
"marketplace": {
"retailer": {
"metadata": {
"refNo": "0a888204-555a-4523-9601-5a8b23c907a3"
},
"name": "SomeRetailerName",
"address": {
"line1": "6F Launchpad Reliance St",
"city": "Mandaluyong",
"state": "Metro Manila",
"postalCode": "1550",
"alphaCountryCode": "PHL"
}
}
}
}
}
What are the steps to implement this change?
As the development team of the merchant, the recipient object should be included in the JSON input when calling the following API endpoints:
The fields mentioned above will become a strict requirement on April 15, 2023. It is highly recommended to support the new values as soon as possible. Acquirers that continue to submit manual reports to Visa must send them within 15 calendar days of the end of each reporting quarter. Effective April 15, 2023, Visa will charge an incremental per-transaction fee of 0.10% for any foreign retail transaction volume reported manually without use of the Foreign Retail Indicator.
Who will be affected?
Though the mandate applies to merchants with MCC value 5262; requirement from Maya Business is that the mandate will be applied to merchants who are categorized as marketplace and under MCC 5262.
Need help?
For any questions or concerns, please contact us through our support channels.