Connect aims to streamline multi-party payments, enabling Speed accounts to swiftly establish connections with other Speed accounts. This functionality empowers the Speed account to establish a connection with another speed account, create payments on behalf of the connected account in their account, and, upon payment being received, get a portion of the payments.
What are platform and connected accounts?
- Platform account: Platform accounts take the lead in coordinating multi-party payments, serving as the primary initiators and managers of transactions.
- Connected account: Connected accounts become associated with a specific platform account, forming a collaborative partnership for shared payments.
Each time the platform account owner or admin user generates a link, it will be unique and remain valid indefinitely. If the link is generated with redirect URL, upon accepting your connection request and becoming your connected account, it will redirect them to this given redirect URL.
The generated link will be mode-specific, meaning that when an existing account attempts to connect with a platform account, it will either connect to the test mode or live mode.
For each test and live mode, a distinct link will be generated.
When an account's user accepts a connect invite link, a connect.completed event is triggered and sent to your system. The event payload includes the connected account’s account_id along with additional details, such as the account's owner_email. You are required to store the connected account's account_id on your end to enable future interactions and operations involving that account.
Discover more about Speed's connect here.