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[PYMNT]

Required Information

To enable a merchant on PYMNT, we need to collect a set of required information. This ensures compliance, supports risk assessment, and allows us to safely activate payment processing.

The exact requirements can vary depending on the merchant type, country, and risk profile.

Business information

We require basic information about the business, including:

  • Legal business name
  • Trade name (if different)
  • Business registration number (e.g. KvK or equivalent)
  • Registered address
  • Country of incorporation
  • Business type (e.g. sole proprietorship, BV, LTD)

This information is used to identify and verify the legal entity using the platform.

Representative information

For the individuals representing the business, we typically require:

  • Full name
  • Date of birth
  • Residential address
  • Nationality
  • Role within the company (e.g. owner, director)

This is used for identity verification and compliance checks.

Beneficial ownership (UBO)

In many cases, we are required to identify Ultimate Beneficial Owners (UBOs).

This includes individuals who:

  • Own or control a significant share of the business
  • Have decision-making authority over the company
  • Indirectly control the organisation through other structures

UBO information helps ensure transparency and regulatory compliance.

Financial information

To enable payouts and payment flows, we require:

  • Bank account details (IBAN or equivalent)
  • Account holder name
  • Bank country
  • Currency preferences (if applicable)

This ensures that funds can be securely and correctly transferred.

Business activity

We also collect information about what the merchant does, such as:

  • Industry or business category
  • Description of products or services
  • Expected transaction volume
  • Average transaction value

This helps us assess risk and configure appropriate processing limits.

Compliance & verification documents

Depending on the onboarding requirements, we may request supporting documents such as:

  • Company registration extract
  • Identification documents of representatives
  • Proof of address
  • Additional verification documents for higher-risk profiles

These documents are used for KYC and compliance verification.

Why this is required

This information is required to:

  • Meet regulatory and financial compliance standards
  • Protect against fraud and misuse
  • Ensure safe and reliable payment processing
  • Enable secure onboarding with our PSP and financial partners

Important note

The required information may differ based on:

  • Merchant type (individual vs business)
  • Country of operation
  • Risk classification
  • Payment methods used

We always aim to keep this process as simple as possible while meeting all legal requirements.