Why do you need my information?
To provide you with payment processing services, including sending funds to your bank account, we must comply with Federal banking regulations. Those regulations require that we verify some of your information with official records, including conducting identity and bank checks. Once all of that is done, you’re free to accept transactions and receive payouts through your platform.
How does this work?
You still keep the same relationship with your software platform, and they’re still your go-to contact for any support.
We will provide payment services for your platform, including processing transactions and distributing those funds where they’re supposed to go (for example, payouts to you). To comply with Federal regulations for payment service providers, we have to verify your business, identity, and bank information with official records.
What happens to my data?
We have a privacy policy that covers how we process and store any information that you share with us. We’re very serious about data protection, and we will never share your information with advertisers.
Our Underwriting team can see your information and documents when they conduct the verification checks, and they also need to share it with the third parties who help us match information with official records. Finally, as per our partnership agreement, your platform can view your information, but they can’t access any of the documents you upload.
What type of ID do I need to provide?
To verify your identity, we need to see an official photo identification document that was issued by the government. The document must be a physical photo ID document, not digital. Make sure the document is still valid—we can’t process expired, hole punched, or otherwise modified documents.
Make sure the document is a photo or scan of the physical ID document—we also can’t process a screenshot of a photo, a photo pasted on another document, a photo of a screen, or a photo of a printout.
We’re happy to receive a scan or photo of one of these ID types.
Passport: make sure to scan the data page, including your photo, MRZ code, and all data.
Driver’s license: upload one scan of the front side and one of the back side.
ID card: scan the front side and the back side of a government-issued ID card.
For a speedy verification process, check out our tips for uploading your ID document:
How can I verify my bank account?
To confirm that you own the bank account where you’ll receive payouts, we need to see an official bank document.
Supported bank document types:
Bank statements
Deposit tickets or deposit forms
Screenshots of your online banking environment
Official emails or letters from your bank
Check
The document must show:
The account holder name. This must match your legal entity name.
The account number or IBAN
The date of issuance needs to be visible and needs to be dated less than 12 months ago. This requirement applies to all types of documents except for RIBs, checks, or TAMIEYTHPIO.
The country where the bank account is located.
An indicator that the document was issued by a bank, such as the bank name, a bank logo or a bank-specific font.
File requirements:
JPG, JPEG, PDF, or PNG (maximum 1 file)
For PDFs: minimum 1 KB, maximum 4 MB
For other formats: minimum 100 KB, maximum 4 MB
Full color, cropped, and straightened image
What is an ultimate beneficial owner (UBO)? How is it different from a signatory?
Most companies have at least one ultimate beneficial owner (UBO), which is typically a person who owns 25% or more of the company. A UBO could also be someone who otherwise holds significant power in the company, such as controlling 25% or more voting rights. Often, UBOs are people like the CEO, CFO, President, Vice President, or members of the board.
If your company does not have a UBO, we need the information of an authorized signatory. This person has been granted official capacity to act or enter into a contract on behalf of the company.
Most UBOs are also signatories, but not all signatories are UBOs.
What information will be collected?
See Onboarding - Verification Requirements Checklist
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