# Key Resources The Finix platform comprises many different resources that fit together. This guide describes Finix's Key Resources are and how they relate to one another. ## Applications Application Resource Chart The `Application` resource represents your own business or platform within the Finix system. As this represents you, it is your root entity in Finix and most resources will include an `application.id` that points back to you. Several resources are direct children of `Applications`, including [`Users`](#users), [`Identities`](#identities), [`Webhooks`](/additional-resources/developers/webhooks), and your [`Application Profile`](#application-profile). We cover these resources in detail below. ## Identities Identities chart The `Identity` resource represents either an individual or business, and stores their information. You will create `Identities` for both the sellers and service providers you board to process payments, as well as their buyers: - For users you board to accept payments (e.g., sellers, service providers, merchants): the `Identity` resource includes Personally Identifying Information (PII) required for compliance and underwriting purposes, and they will go through the [onboarding process](/guides/platform-payments/onboarding-sellers) before they can accept payments. - For their buyers: the `Identity` resource can store [any information you choose to include](/guides/getting-started/developer-quickstart#step-1-create-an-identity-for-your-buyer), such as their names, emails, addresses, or phone numbers. `Identities` are central resources that link many other resources together: - Payments (called `Transfers`) and payment methods (called `Payment Instruments`) get created under and linked with an `Identity`. - The `Identity` resource helps manage payments, payment methods, bank accounts, transaction history, identity verification, and payouts between buyers and sellers. ## Merchants Merchants Chart [The `Merchant` resource](/guides/platform-payments/onboarding-sellers/seller-onboarding-process/) represents the ability for an `Identity` to process payments. An `Identity` can only have one merchant resource. ## Payment Instruments Payment Instruments Chart The `Payment Instrument` object represents a payment method (e.g., credit cards, bank accounts, tokens). When `Payment Instruments` are created, the payment method details get tokenized and stored securely (e.g., the card or bank account number). Each `Payment Instrument` has a unique `id` that represents the payment method in Finix moving forward. Each `Payment Instrument` is [created under an `Identity`](/guides/getting-started/developer-quickstart#step-2-tokenize-payment-details) and can only be linked to that one single `Identity`. Once created, a `Payment Instrument` cannot be disconnected from the `Identity` it was created under, or linked to another `Identity`. ## Transfers Transfers Chart The [`Transfer` resource](/api/transfers) represents ***any*** money movement from one `Payment Instrument` to another. For example, a `Transfer` can be a credit to a bank account, or a refund to a card. `Transfers` appear on the Finix Dashboard under **Transactions**. [`Authorizations` always create `Transfers` when captured](/guides/online-payments/payment-features/auth-and-captures#capturing-an-authorization); however, `Transfers` can get created for other reasons, including processing refunds, reversals, and paying out merchants. `Transfers` can have one of three types, each indicating a different funds flow: 1. `DEBIT`: These are created after [capturing Authorizations](/guides/online-payments/payment-features/auth-and-captures) or [creating ACH (eCheck) payments](/guides/online-payments/bank-payments) where funds are pulled from the issuer into the settlement account. 2. `REVERSAL`: represent [refunds or chargebacks](/guides/after-the-payment/refunds) where funds are returned to customers. 3. `CREDIT`: are created when funds are transferred to a merchant's bank account when [funding / payout out settlements](/guides/platform-payments/seller-payouts). `Transfers` can have six possible states: 1. `PENDING`: The `Transfer` is still processing. It will resolve to another state. If a transfer stays in PENDING for an extended period of time, reach out to Support. 2. `SUCCEEDED`: The Transfer was successful, and the funds will soon be available for [Payout](/guides/payouts). The `ready_to_settle_at` field indicates when the `Transfer` will be included and batched into a `Settlement`. 3. `FAILED`: The Payment was declined. Refer to the `failure_code` and `failure_message` for [details on why the transaction was declined](/additional-resources/developers/implementation-and-testing/error-codes/#transfer-and-authorization-errors). 4. `CANCELED`: There was an issue with the processor, please reach out to support. 5. `UNKNOWN`: A connection or timeout issue occurred while the `Transfer` got created or updated. Reattempt the `Transfer`. 6. `RETURNED`: The `Transfer` was returned by the bank, which can happen for ACH transactions (e.g., insufficient funds, invalid account). When a `Transfer` is in this state, the `bank_return_details` object is populated with the `reason_code`, `reason_title`, and `reason_message` explaining why the return occurred. ## Authorizations Authorizations Resource Chart The `Authorization` resource represents a charge or card hold made by a `Merchant` to verify the buyer's payment method has the necessary funds. When an `Authorization` is created, a specific amount gets reserved on the `Payment Instrument` associated with the `Identity` that represents the buyer. That amount is ***captured*** (i.e., debited) at a later date, usually within 7 days. When an `Authorization` gets captured, a `Transfer` resource gets created to process the movement of funds. ## Settlements Settlements chart The `Settlement` resource represents a batch of `Transfers` that will get paid out to a `Merchant`. `Merchants` (i.e., sellers) are paid out when Finix approves them. For more information, see [Payouts](/guides/platform-payments/seller-payouts). ## Users Users Chart A `User` represents: - Dashboard User - API User To Create a dashboard user, reach out to Finix support. ## Files Files Chart The `File` resource represents a [file that is or will be uploaded to Finix](/guides/platform-payments/onboarding-sellers/seller-onboarding-uploading-files). Files can be uploaded for any resource, though this is most often used during onboarding where documents may be required for an `Identity` or a `Merchant`. ## Profiles Profiles Chart Finix uses a concept called "profiles" that enable you to define a root configuration for charging fees, risk settings, and payout schedules. ### Application profile An `Application Profile` stores a base set of profiles: `Fee Profile` and `risk_profile`. Whenever you create a `Merchant`, a new `Merchant Profile` is created with a `Fee Profile` and `risk_profile` that are a copy of the profiles in the `Application Profile`. ### Merchant profile Each `Merchant` will have its own, unique, `Merchant Profile`. Merchant profiles are not shared between merchants. The merchant profile points to the `Fee Profile` and `risk_profile` that applies to the merchant ### Fee Profile A `Fee Profile` specified how you will [charge fees to your seller](/guides/platform-payments/monetizing-payments/collecting-seller-fees) for their specific `Merchant`'s payment processing. The fee profile contains a list of each fee type and the amount you want to charge the merchant. ### Risk profile A `Risk Profile` specifies the risk configuration for a `Merchant`. ### Per-Merchant customization You can change the profiles on a `Merchant Profile` and it will only affect the `Merchant` the `Merchant Profile` is associated to. ## Account structure account structure Finix enables many payment flows but the key account relationships start with your [`Application`](#applications) which is your main account. Your Application will have many [`Identities`](#identities) for your buyers and sellers or service providers. For buyers, their `Identities` will have one or more [`Payment Instruments`](#payment-instruments) for each payment method they save with you. For sellers or service providers, their `Identities` will have one or more [`Payment Instruments`](#payment-instruments) for the bank account their funds are paid out to. They will also have one or more `Merchants` for each payment capability you enable for them, such as enabling both online and in-store payments with one `Identity`.