How do I complete the Merchant Verification process?

To complete the Merchant Verification Process and enable all functions of the myPOS account, you will receive an email containing general information about the process as well as a list of all documents required.

The documents may vary based on local legislation, your company’s legal entity and business activity. A few examples of requested documents may be:

• Proof of your company’s registered address (e.g. a bank statement, incorporation document, an annual return/report, government correspondence or similar)
• Proof of operating address (e.g. a bank statement, bill, tax statement, government correspondence, or similar)
• Proof of the nature of your business (e.g. invoices and a clear and detailed description of what your company does, with relevant website links or similar)
• Proof of Director(s) structure (e.g. copies of ID card or passports of Directors, incorporation document, annual return/report, articles of association or similar)
• Proof of shareholder(s) - documents about the owners of the business, individuals who own or control more than 25% of the business (UBOs, copies of official ID card or passports and proof of address, if the address is not shown on the ID card or passport)

Once you have prepared all the required documents, you must upload them in your myPOS merchant account for review. Usually, the Merchant Verification Process can be completed within 72 business hours, however, in certain cases, it may take longer due to a need to provide additional documents or check those already provided more thoroughly.

In many European countries, companies are established by Notaries. If this is the case for your company, please send us a copy of the incorporation documents stamped by the Notary to speed up the approval of your application.

In some countries, we are able to obtain the details about the company, Directors and business owners from the public Trade Register. However, there are still countries in Europe in which the Trade Registers do not provide the needed information and for these countries we will need documents for the company, Directors and business owners to be provided to us before we open the account.

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