CHECKLIST TO GET THE MERCHANT LIVE

  • Pre-approval: — First, the merchant’s application must be completed. After that, the application can be sent to the head of underwriting for pre-approval.
  • Buy Rate Proposal via SLA: – Typically, we respond to the merchant within 48 to 72 hours with a buy rate, this will be included in the Service Level Agreement, which will be provided directly to the merchant for signing and agreeing to the terms.
  • Signed SLA & Onboarding: –After the merchant has returned the signed agreement with us, we can move them to a dedicated Skype group chat with appropriate members of the Paypound team; this is when we involve tech to send the merchant our onboarding questionnaire for completion.
  • After completing the onboarding questionnaire, the tech team will work with the Merchant’s tech team to integrate our gateway into their website as seamlessly as possible. This will include testing card payments with a dummy set of credentials so that the Test phase can be switched to Live once it is operational.
    • Needs to have a working website which has information about the service/product, privacy policy, refund policy, cancellation policy and company details 
    • Needs to submit the relevant documents. List of mandate documents below: 
  • Director ID proof 
  • The latest utility bill 
  • Personal bank statements
  • Business registration certificate 
  • Business bank statements 
  • Website domain ownership screenshot 

He must process at least 10-20k per month and not have any banned countries as customers. The following is a list of countries that are restricted:

Restricted Country List: 

Afghanistan, Algeria, American Samoa, Azerbaijan, Bangladesh, Barbados, Bhutan, Belarus, Cayman Islands 

China, Cuba, Cyprus, Ecuador, Greece, Guam, Guatemala, Iceland, Indonesia, Iran, Iraq, Israel, Japan, Jordan 

Kuwait, Kyrgyzstan, Libya, Luxembourg, Maldives, Mali, Mauritania, Oman, Pakistan, Palau, Philippines 

Qatar, Russia, Singapore, South Africa, Saudi Arabia, South Korea, Somalia, Sudan, Syria, Taiwan, Tuvalu, Ukraine, Uzbekistan, Yemen 

  1. It is necessary to check and guarantee that the company does not fall into any banned industries ( Pharma, Nutra, KRATOM, Sarms etc)

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