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Verifying your business

When onboarding our merchants, we conduct “Know Your Business” checks. These checks focus on the identification and verification of the legal entity that is looking to contract with us. We do these checks to ensure that a business is a real legal entity, has not been involved in fraudulent or illegal activities, and is compliant with anti-money laundering regulations.

Depending on the country your business is registered in, we will ask you for specific information and documents that will help us verify your business. Use the guides below to find out more about the requirements that may apply to your case.

  1. Business information requirements
  2. Business document requirements
  3. Shareholder structure document

1. Business information requirements

Required information
  • Legal business name
  • Trading name
  • Business type (legal entity structure)
  • Company number
  • Business phone number
  • Date established
  • Registered business address
  • Principal place of business address

For merchants registered in the United Arab Emirates, the following also applies:

  • Tax registration number
  • No principal place of business address is needed

     

For merchants registered in the European Economic Area, the following also applies:

  • VAT number

2. Business document requirements

Region Required documents
United Kingdom
  • Proof of principle place of business address
    • Only collected if different than registered business address
  • One of the following:
    • Certification of incorporation; or
    • Memorandum of Association; or
    • Articles of Association
  • License to operate
    • Only for businesses requiring special licenses (e.g., financial institutions)
  • Shareholder Structure
European Economic Area
  • One of the following:
    • Certification of incorporation; or
    • Memorandum of Association; or
    • Articles of Association
  • License to operate
    • Only for businesses requiring special licenses (e.g., financial institutions)
  • Shareholder Structure
United States
  • EIN notice/receipt
Australia
  • ASIC extract
  • License to operate
    • Only for businesses requiring special licenses (e.g., financial institutions)
  • Shareholder Structure
New Zealand
  • New Zealand companies register
  • License to operate
    • Only for businesses requiring special licenses (e.g., financial institutions)
  • Shareholder Structure
Singapore
  • One of the following:
    • Memorandum of Association; or
    • Articles of Association
  • ACRA business profile
  • License to operate
    • Only for businesses requiring special licenses (e.g., financial institutions)
  • Shareholder Structure
Hong Kong
  • Certificate of Incorporation
  • Annual Return (NAR1) or Incorporation Form (NNC1)
  • License to operate
    • Only for businesses requiring special licenses (e.g., financial institutions)
  • Shareholder Structure
United Arab Emirates
  • Trade license
  • Tax registration document
  • License to operate
    • Only for businesses requiring special licenses (e.g., financial institutions)
  • Shareholder Structure
Middle East, North Africa, and Pakistan (excl. UAE)
  • License to operate
    • Only for businesses requiring special licenses (e.g., financial institutions)
  • Shareholder Structure

 


3. Shareholder structure document

A signed shareholder structure document is required which outlines the following:

  • Country of incorporation
  • Shareholding and/or voting rights (%) of all intermediate and parent entities; and
  • Details of all Ultimate Beneficial Owner(s) owning 25% or more shareholding and/or voting rights

There are specific requirements per region in regards to what this document should look like:

Region Regional requirements
United Kingdom Must be dated and signed by either a Senior Management/Compliance Officer/C-level individual. Must be dated within the last three months
European Economic Area Must be certified by a competent authority (e.g., Notary, Lawyer, Solicitor and Qualified Chartered Accountant). Must be dated within the last three months
Australia, New Zealand, Singapore, and Hong Kong Must be dated and signed by either a Senior Management/Compliance Officer/C-level individual. Must be dated within the last three months
Middle East, North Africa, and Pakistan Must be printed with a company's letterhead, which is dated and signed by either the Legal Counsel/Compliance Head/CEO. Must be dated within the last three months

 

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