Find out which values you can use for the FATCA/CRS, industry codes, and source of funds.
FATCA/CRS
Under FATCA and CRS legislation, Adyen NV as a licensed Dutch Financial Institution is legally required to both:
- Identify its financial account holders.
- Report details of reportable financial account holders to the relevant tax authorities.
To obtain a financial account from Adyen, Adyen therefore needs to obtain certain additional information about you or your entity. To determine whether a financial account (holder) is reportable under FATCA and/or CRS, Adyen is required to obtain a self-certified FATCA / CRS qualification. This FATCA and CRS qualification determines whether the financial account information is considered reportable. After completing the self-certification process, no further action is required by you unless your information changes.
Industry codes list
As a financial institution, Adyen has a legal obligation to collect information about the line of business from your users. This is done by capturing industry codes. You are required to provide industry codes for your users when requesting business accounts.
These codes can represent either:
- The industry that your user is operating in and uses Adyen to process their payments through your marketplace
- For business account users, the industry in which the user is registered based on their local registry (for example, chamber of commerce or secretary of state)
To submit this information to Adyen, make a POST /businessLines request. Select the industry code that most accurately represents the business activity of the user.
For some industries, Adyen requires approval before onboarding users. In this case, contact your Adyen Account Manager, Implementation Manager, or Support Team for further guidance.
After collecting industry codes, Adyen also makes this data available for you, in case you want to gain insights on your marketplace users.
Industry codes have been mapped to merchant category codes (MCCs) and adapted based on our internal regulations. We only accept the following values listed below for industry codes.
To offer business accounts to users in any new industries that were not part of the previous approval process, you must contact your Adyen Account Manager or our Support Team.
Source of funds list
The following are the values that Adyen accepts for the source of funds, and the information required for each type. To submit this information, make a POST /businessLines request.
| Type of source of funds | Required information | |
|---|---|---|
| Business (profits generated from commercial activities) | Specify that their main source of funds is the payments acquiring business with Adyen. |