Stayntouch PMS Stayntouch Pay Onboarding – Know Your Customer (KYC) Onboarding Invite + Self-Assessment Questionnaire Guide
By leveraging leading payments technology and global licenses, Stayntouch Pay is able to simplify and enhance the payment experience for our customers, all within our existing platform.
To facilitate the payment services and acquiring, the payment service provider is legally obliged to do detailed checks on your company and its shareholders before processing payments for and doing payouts to your company. Our Onboarding Team will send a KYC link for you to provide the required information.
To accept card payments from shoppers providing their card details through a mail/telephone order (MOTO), followed by you manually entering the card details into your payment terminal, you are required to be compliant with the Payment Card Industry Data Security Standards (‘PCI DSS’). Since you will have temporary access to card details from your shoppers, which is highly sensitive and confidential information, you are responsible for implementing sufficient risk mitigation (e.g., staff security awareness, ensuring that card details are never stored or used beyond the purpose of processing the specific order). Therefore, you need to complete a Self-Assessment Questionnaire B-IP (‘SAQ’ B-IP) via link sent to you by our Onboarding Team. By completing this form you confirm that you are compliant with the PCI standards.
TABLE OF CONTENTS
KYC-on-Invite
Please follow the guide below to complete the KYC-on-Invite form. Please make sure to gather the following documents before starting the process:
- Registration document
- Bankstatement
- Proof of identity of all UBOs (Passport or ID card)
- ‘SAQ’ B-IP
COMPANY
Company checks serve the purpose of identifying and verifying legal entities with whom the Payment Service Provider enters into a scheme relationship with. These checks are conducted in order to check whether a company is active or registered in a Reliable and Independent Source, and that the input data provided is correct.
Step 1 - Verifying the Legal Entity
In order to verify your legal entity, you have to provide a registration document. The registration document can be either:
- An extract from the chamber of commerce;
- Articles of Incorporation
The provided registration document should contain, at minimum, the following data points:
- Legal entity name;
- Doing business as name (if applicable);
- Tax number;
- Date of issue or statement of affairs
Please keep in mind that it is mandatory for the registration document (1) to be issued within the last one year; or (2) contain a signature and a ‘statement of affairs’, which cannot be older than one year.
More information can be found here (for EU customers only).
Keep in mind that the Payment Service Provider does not accept “doing business as” (DBA) or trading names in the input data, it should always be the legal entity name.
Similar to the legal entity name the type of company and registration number should match the information stated in the to be provided registration document.
Step 2 - Verifying the Tax ID
Since it is mandatory for Payment Service Provider to check whether a business is liable to pay taxes as well as to verify that they do so in an orderly manner, the Tax ID (i.e., VAT number) needs to be verified. It is possible that your business may be VAT exempt, and in this circumstance no VAT identification number will be available. In the event that your business activity is taxable, however big it may be, a Tax ID is required.
Please note that in case your business is tax exempted, the Payment Service Provider needs to verify the reasoning for not having such ID and request some documentation including but not limited to:
- Confirmation of legal counsel/accountant to confirm the reason why a Tax ID is not present;
- Signed confirmation by an authorized signatory that the legal entity in question is paying local taxes and is compliant with all local taxation laws
Step 3 – Verifying the Registration Address
The business registration address should always match with the information provided in the registration document.
Step 4 – Verifying the Store Address
In case a business is opening a Point of Sale account, additional information on their store must be provided. If a business has more than one store, they pick the store they want to start off with and add additional stores once the account is live.
PAYOUT ACCOUNT
Payout account checks serve the purpose of verifying payout accounts to which funds will be paid out. These checks are conducted in order to check if the input data provided is correct.
Step 1 - Verifying the Bank Account Holder
This will be the bank account holder that will receive the funds processed by the Payment Service Provider. Please note that the account holder of the bank account should be the same as the legal entity name as provided in the registration document.
! If you are a sole trader, please make sure that the bank account holder name matches your full name (i.e., first and last name). Please note, this should also correspond with your legal entity name as registered at your local chamber of commerce
Step 2 - Verifying the Bank Account
To verify the bank account, a bank statement is required.
The bank statement must contain at least:
- The bank account holder full name;
- Account number;
- Logo or name of the bank;
- The account currency
The uploaded bank statement must:
- Be in JPEG, JPG, PNG, or PDF format;
- Have a size between 100KB (1 KB for PDF) and 4 MB
The following uploaded bank statements will not be accepted:
- Edited or personalized;
- Containing images of a debit card;
- Issued more than 12 months ago
Please note that the IBAN, BIC, Currency, Bank name, and Bank city in the input fields should always match with the information provided in the bank statement.
OWNERSHIP & CONTROL
In order to be compliant with financial regulations, the Payment Service Provider is required to know the identity of individuals who substantially control or own the legal entity whom the Payment Service Provider enters into a scheme relationship with.
Therefore, the Payment Service Provider requires a proof of identity for the person accepting the legal terms and shareholders having 25% or more voting rights, shares, direct or indirect control. The proof of identity can be either a:
- Passport: copy of the data page, with your picture, details, and machine-readable zone clearly visible;
- ID card: copy of both the front and back, and save them to separate files.
The proof of identity must:
- Be in JPG, JPEG, PNG, or PDF format;
- Have a size between 100 KB (1 KB for PDF) and 4 MB;
- Be a full color, cropped, and straightened image.
The proof of identity cannot be:
- Expired;
- Broken or damaged;
- Dirty, illegible, or with a watermark;
- Blurry or overexposed;
- Black and white;
- Multiple sides or documents in the same file;
- Not cropped, or have a white background;
- Angled, rotated, sideways, or upside down;
- Overcropped or cut off.
Step 1 - Verifying # of Ultimate Beneficial Owners
Please select the number of individuals having 25% (or more) voting rights or shares in your company.
Step 2 - Verifying # of Directors
Please select the number of individuals having direct or indirect control in your company. Meaning that these individuals are able to make decisions on behalf of your business but are not necessarily having any voting rights or shares.
CONTACTS
In order to be compliant with financial regulations, the Payment Service Provider is required to know the identity of the signatory of the legal entity whom the Payment Service Provider enters into a scheme relationship with.
Step 1 - Financial Matters
As you agreed upon pricing with your platform directly, you will not receive an invoice from the Payment Service Provider. Though in order to submit the form, this information needs to be filled in. Therefore, just make sure someone’s details are stated here.
Step 2 – Signatory
In this section, the legal terms will need to be accepted, and you will need to prove that all information has been filled in correctly. Next to that, you will need to provide some personal details (such as first and last name, home address, and job title). Moreover you will need to provide the ‘SAQ’ A for online payments and ‘SAQ’ B-IP for MOTO over POS payments. In case you only do in-person payments, no additional PCI documents need to be provided.
All tabs on the left hand side should now have a green check mark. If not, please navigate to the tab that doesn’t have a checkmark yet and make sure to enter any missing information.
If you have reviewed all the provided information, you enter ‘Submit application’. Stayntouch will review your application and let you know if there are any outstanding points.
SELF-ASSESSMENT QUESTIONNAIRE
Please follow the guide below to complete the Self-Assessment Questionnaire.
Step 1 – Provide User Security Contract
Please make sure to fill in your first and last name and email address. Afterwards click on ‘Begin signing’.
Step 2 – Enter Access Code
Please enter the access code received on the email address provided in Step 1.
Step 3 – Signature Disclosure
Please carefully read the text shown. By accepting the terms stated here you agree to use electronic records and signatures. If this is acceptable for you, please move forward by clicking on ‘Continue’.
Step 4 – Complete Form
On the first page, you will have to fill in your company name, business address, contact details and website URL(s) and/or app name(s). For the company name, please make sure to use the legal entity name as stated in your registration document.
Next, you will need to review the pre-filled document. By pressing on the green button on the left side of your screen you will scroll through the entire document.
Lastly, you will need to click on ‘Sign’ on the second to last page (p21) and afterwards you will need to click on ‘Finish’. Please make sure to download the completed Self-Assessment Questionnaire so that you are able to provide it during the KYC application process.