Onboarding a Business
Effortless onboarding with built-in KYC and underwriting.
Onboarding a Business
A business is a legally registered entity that operates to offer goods or services. To begin accepting payments or managing financial transactions through our platform, these entities must first complete an onboarding process that verifies their structure, ownership, and operational intent.
The onboarding journey is designed to make this process seamless — whether you’re a sole proprietor running an online store or a corporation managing large-scale commerce. Once verified, businesses can activate services such as online collections via payment links, in-store transactions using card terminals, and card-not-present transactions for eCommerce setups.
As part of the onboarding, businesses can add an Authorized Signatory, typically the person legally allowed to act on behalf of the business. Additionally, if the entity has one or more Beneficial Owners (individuals who ultimately control or own a significant portion of the business) those individuals must also be identified for regulatory compliance.
Following business verification, the entity may proceed to onboard Merchants under its structure. These merchants are enabled to perform card transactions, both in physical and digital environments, allowing for flexible payment acceptance across channels.
Whether you're looking to collect funds, make vendor payouts, or scale across merchant outlets, our platform supports a unified onboarding experience that keeps compliance smooth and activation quick.
NOTE:
- Business Customers can be created with minimal set of information i.e. legalName
- Customer can be created with or without a passport account.
Example: To pull funds from a consumer into merchants passport account, create consumer as a customer and link bank account of consumer as external account to this customer. Initiate collect to pull funds.- Every customer will undergo a OFAC verification to ensure BSA/AML compliance.
- For customers onboarded that require a customer owned account or merchant card processing, CIP (KYC/KYB) verification will be performed.Any failure in the verification will hinder account activation and transaction processing through the concerned accounts.
Business Category
Choose the business type that matches how your business is legally registered. This helps us verify your identity and ensure regulatory compliance.
- Sole Proprietor: A business owned and operated by a single individual, with no legal distinction between the owner and the business. Example: Freelancers, local shop owners.
- Single Member LLC: A Limited Liability Company with one owner. Combines simplicity of a sole proprietor with liability protection. Example: Small eCommerce sellers, consultants.
- Partnership: A business owned by two or more people. Profits and responsibilities are typically shared equally. Example: Joint ventures, co-owned restaurants.
- LLC: An LLC with two or more owners (called members). Offers flexibility in how profits and responsibilities are shared. Example: Family-run businesses, tech startups.
- LLP: Limited Liability Partnership is a partnership where each partner has limited liability. Common in professional services. Example: Law firms, accounting firms.
- S-CORP: A special tax designation available to some corporations and LLCs. Allows profits/losses to pass through to owners. Example: Small to mid-sized businesses.
- C-CORP: A legal entity separate from its owners. Profits are taxed at both corporate and individual levels. Example: Large tech companies, funded startups.
- GOVERNMENT: Any local, state, or federal agency or department operating in a governmental capacity. Example: Public utility boards, education departments.
- NON_PROFIT: Organizations formed for charitable, religious, educational, or public benefit purposes. Example: NGOs, charities, foundations.
- TAX_EXEMPT: Organizations exempt from paying certain taxes due to their nature or function. Example: Religious institutions, registered charities.
Steps to Onboard Business customers
The details you provide during entity creation are used to verify the associated account holder.
- Submit to Create Customer API
- Get response via Retrieve Customer API — store customer ID
- Track verification via Retrieve Customer API
Request Parameters
Parameter | Description |
|---|---|
| External reference id. Supported maximum of 45 characters. |
| The business’ legal name. Supported maximum of 150 characters. |
| Specify business category. Possible values: SOLE_PROPRIETOR, LLC, LLP, SINGLE_MEMBER_LLC, PARTNERSHIP, C_CORP, S_CORP, GOVERNMENT_ORGANISATION, NON_PROFIT, TAX_EXEMPT |
| The business’ Employer Identification Number. |
| The customer-facing name of business. Example: Merchant, Trader, etc. |
| Date on which the business was incorporated in format: mm/dd/yyyy |
| State in which the business was incorporated. Example: CA, NY, etc. |
| The business’ phone number in Numeric format: XXX-XXX-XXXX |
| Business' mailing address. Can be more than one and any one of these addresses can be set as a Payor Address. |
| Business' email address in [email protected] format. |
| The business’ publicly available website |
| The representative selected by business for handling/opening the account. |
Response Parameters
| Parameter | Description |
|---|---|
business.verification | The customer’s OFAC and CIP verification statuses, their reasons and date on which the status was updated. |
Onboarding APIs Summary
| Integration Component | Endpoint / Feature |
|---|---|
| Submit user info | POST /customer |
| Update user info | POST /customer/id/{id} |
| Upload documents | POST /customer/id/{id}/document |
| Status updates | GET /customers/{id} or Webhook |
| Track progress | verification.status |
Testing & Go Live
Use sandbox data to simulate both approval and rejection flows.
Kindly wait for approximately 5 minutes to view the results.
a. OFAC Verification
Use case 1: OFAC Verification Successful
As it is a successful verification scenario, you can add any names except block.
- For Business, create a customer with any
legalNameexceptblock.
Test Data | Result |
|---|---|
Create a Customer:
| Get Customer:
|
Use case 2: OFAC Verification Failed
Test Data | Result |
|---|---|
Create a Customer:
| Get Customer:
|
b. CIP Verification Successful
Use case 1: CIP Verification Successful
As it is a successful verification scenario, you can add any names except block.
- For an Business Customer, create a customer with any
legalNameexceptblock.
Test Data | Result |
|---|---|
Create a Customer:
Create an Account:
| Get Customer:
|
Use case 2: CIP Verification Successful for Authorized Signatory
As it is a successful verification scenario, you can add any names except block.
Test Data | Result |
|---|---|
Create a Customer:
Create an Account:
| Get Customer:
|
Next Steps
Open Account
Open a clearing or customer-owned account for the customer.
Add Merchant
Add merchants to a business to enable Card transaction services.
Enable Services
Enable services for the Business
See Also
Updated about 2 months ago