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 streamline the verification process and make it quick and easy for its clients, myPOS has simplified it to a procedure entailing a few steps. Everything that a merchant needs to complete the identity verification is a valid passport or a national ID card with a picture. Do note that you will need to present the actual document, not a copy of it.
- 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.