The Identity Verification is a short online identification required in order for myPOS to confirm the merchant’s identity. In accordance with the EU Fourth Money Laundering Directive, all institutions providing financial services are obliged to confirm the identity of a third party before entering into a business relationship. myPOS is legally required to verify every client’s identity.
To make it easier on you, myPOS has simplified the merchant identification to a fast online procedure. To complete it, you need a valid driver’s license or a passport with a picture. Please keep in mind that you must present your actual driver’s license or passport - copies of the documents are not accepted.
Here is a short overview of the online identification process:
- An email is sent to the email address provided when registering for a myPOS account. Open the email and click on the link to confirm your e-mail
- Download and install the myPOS mobile app on your smartphone
If you don’t have a myPOS account yet, select “Sign up”; if you do, tap on “Log in” and enter your credentials
- Prepare your official and valid government-issued passport with your picture on it or your driver’s license and tap “Next”.
- Make sure you are alone and that you have a reliable Wi-Fi or data connection.
- Start the online identification process. This step is really easy and simple as this is in fact a self-identification done on your own.
Following the Identity Verification process, you will be required to provide legal documents to verify the company’s identity. The documents required are dependent on the company’s legal form.