You are required to verify your Merchant Account by providing scanned copies of legal business documents.
These details are reviewed and approved for the purpose of Know Your Customer (KYC). Based on the documents you submit, a KYC percentage level of trust is assigned to your account. A higher KYC level, removes certain limits off your merchant account such as transfer limits and more.
Business Owner Details
A merchant has to provide a residential address for confirmation.
To ensure the business is a valid and legal entity, the Business owner will need to provide details on the business to prove that business is duly registered.
The accepted documents are below:
- Business Registration Document
- Certificate of Incorporation
- Certificate to Commence Business
- TIN: Tax Identification Number
The process here is same as that of verifying a Merchant’s location.
An option will be made available for a merchant to use the same details provided for the Merchant location as the location for the business.