Fast, Secure Onboarding
Create your account easily with almost no documents and start accepting payments , manage contacts, QR code , Wallet transfer and more.
How does it work for Business?
The business onboarding process is a structured series of steps designed to seamlessly integrate into a company's ecosystem. The goal is to ensure a smooth, efficient start while verifying necessary information, ensuring compliance, and establishing a foundation for a successful partnership. Here’s an overview of the typical steps involved in the onboarding process:
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Initial Registration and Information Gathering:
The first step involves collecting basic information about the business, such as legal name, business type, industry, location, and contact details. This may require submitting a completed registration form and providing primary documents (e.g., business license, tax identification, proof of address). This stage helps the organization understand the new entity’s needs and operational requirements. -
Verification and Compliance Checks:
This step is crucial for verifying the legitimacy of the business and ensuring compliance with relevant regulatory standards. It may include Know Your Business (KYB) checks, background screenings, and checks against sanctions or watchlists. Document verification, such as tax information and incorporation certificates, also happens here to confirm the business's validity. -
Due Diligence and Risk Assessment:
After verifying basic information, the next step is a thorough due diligence check. This assessment gauges potential risks involved in the partnership, examining factors such as financial stability, regulatory compliance, and business reputation. Based on this assessment, a risk profile is created, and necessary precautions or contingencies may be established. -
Legal and Contractual Setup:
Once the business has cleared the initial verification and due diligence stages, contractual agreements are drafted and signed. This can involve non-disclosure agreements (NDAs), service level agreements (SLAs), and other binding contracts that outline the scope, terms, and expectations of the partnership. Both parties should review and agree to the terms to ensure a mutual understanding. -
Setting Up Access and Systems Integration:
To facilitate smooth operations, the new business entity is granted access to relevant systems, software, or portals. This may involve setting up login credentials, granting permissions to the kiepay platform. -
Ongoing Support and Relationship Management:
The onboarding process doesn’t end with system setup and training. Continued support, periodic reviews, and feedback loops are essential to address issues, track progress, and enhance the partnership. This ongoing relationship management ensures a mutually beneficial collaboration and positions both entities for long-term success.
An effective onboarding process is vital for building trust, ensuring compliance, and establishing a productive relationship. A well-executed onboarding experience can significantly impact the efficiency, communication, and overall satisfaction of the business partnership.
How does it work for Individual or Personal.
The onboarding process for an individual account on a platform is essential for both verifying identity and ensuring compliance with regulatory standards. This typically includes several steps:
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Account Creation: The individual provides their personal details such as full name, date of birth, address, phone number, and email. These details are necessary to set up and secure the account.
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Identity Verification: To comply with financial regulations (like KYC—Know Your Customer), the platform will ask for documentation such as a government-issued ID (e.g., passport or driver’s license). Some platforms also use facial recognition or video verification to match the document photo with the individual.
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Bank Account Linking: The individual will need to link their personal bank account to the payment account. This allows them to transfer funds in and out of their payment account, and is usually done by entering bank details and completing a small test transaction for verification.
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Address Verification: Proof of address may be required. This can often be satisfied with a utility bill, bank statement, or lease agreement that shows the individual's name and current address.
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Compliance Checks: To meet Anti-Money Laundering (AML) requirements, the payment platform conducts background checks. This might include screenings for sanctions or criminal activity to maintain a secure and compliant user base.
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User Agreement and Security Setup: Finally, the individual agrees to the platform's terms and conditions. They may also set up additional security features such as two-factor authentication (2FA) to enhance account security.
Once all steps are successfully completed, the individual can begin using their account for transactions, including sending, receiving, and storing funds.
Satisfaction Guarantee
We make sure every business and user is legal and their KYC o KYB is verified by our trusted partner MANGOPAY S.A.