Hello Prateek,
I’m Jame from the Content API Team. Thank you for reaching out to us.
I agree that it is not possible to create a new stand alone merchant account via API. Instead, you need to sign up by following this onboarding guide in order to have a merchant account.
However, if you have a Multi-client account then it is possible to create a sub-account via API, you just need to make an API call to account.insert method.
Let me know if you have any questions.
Regards,
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