Required Onboarding Fields Exceptions - By Business Type
Sole Proprietor
Business Information | Note |
---|---|
Legal Business Name | Legal Name = Owner’s Legal Name |
Statement Descriptor | DBA Name |
Tax ID Number | TIN / Tax ID = Owner’s Social Security Number (SSN) |
Type (Business Structure) | |
Public Company | Should be set to No. Defaults as Private. |
Address | |
City | |
State | |
Country | |
Zip Code | |
Phone | |
MCC | |
Website | A Website is required for eCommerce merchants |
Primary Owner (Principal Signer) Information | Note |
---|---|
First Name | |
Last Name | |
Date of Birth (DOB) | |
Social Security Number (SSN) | |
Business Title (Principal's Title) |
Warning: Using the ampersand character (&) entered in this field may result in boarding failure. |
Ownership % | Should set to 100% |
Principal Signer's Email | |
Principal Signer's Address | PO Boxes are not acceptable for owner address fields |
Principal Signer's City | |
Principal Signer's State | |
Principal Signer's Country | |
Principal Signer's Zip Code | |
Principal Signer's Phone |
Common Validation Documents:
Drivers License
A driver’s license should be submitted to validate the principal signer’s identity against submitted documentation.
Void Check
Must feature owner’s name and/or DBA.
Partnership, LLC, or Non-Public Corporation
Business Information:
Business Information | Note |
---|---|
Legal Business Name | |
Statement Descriptor | DBA Name |
Tax ID Number | |
Type (Business Structure) | |
Public Company | Defaults as Private. |
Address | Should be different than Owner/Signer Address |
City | |
State | |
Country | |
Zip Code | |
Phone | |
MCC | |
Website | A Website is required for eCommerce merchants |
Primary Owner (Principal Signer) Information:
Primary Owner (Principal Signer) Information | Note |
---|---|
First Name | |
Last Name | |
Date of Birth (DOB) | |
Social Security Number (SSN) | |
Business Title (Principal's Title) |
Warning: Using the ampersand character (&) entered in this field may result in boarding failure. |
Ownership % | Must have at least 25% |
Principal Signer's Email | |
Principal Signer's Address | PO Boxes are not acceptable for owner address fields |
Principal Signer's City | |
Principal Signer's State | |
Principal Signer's Country | |
Principal Signer's Zip Code | |
Principal Signer's Phone |
Common Validation Documents:
Articles of Incorporation
Submitting the Articles of Incorporation will validate the equity percentage required to be an authorized signer.
Signer’s Driver’s License
A driver’s license should be submitted to validate the principal signer’s identity against submitted documentation.
Void Check
Must feature owner’s name and/or DBA
Not-for-Profit Corporation
Business Information:
Business Information | Note |
---|---|
Legal Business Name | |
Statement Descriptor | DBA Name |
Tax ID Number | |
Type (Business Structure) | |
Public Company | |
Address | Should be different than Owner/Signer Address |
City | |
State | |
Country | |
Zip Code | |
Phone | |
MCC | |
Website | A Website is required for eCommerce merchants |
Primary Owner (Principal Signer) Information:
Primary Owner (Principal Signer) Information | Note |
---|---|
First Name | |
Last Name | |
Date of Birth (DOB) | |
Social Security Number (SSN) | |
Business Title (Principal's Title) | Role must be in a managerial position otherwise known as a “control prong” by FinCEN CDD Regulations. Warning: Using the ampersand character (&) entered in this field may result in boarding failure. |
Ownership % | Should be 0% |
Principal Signer's Email | |
Principal Signer's Address | PO Boxes are not acceptable for owner address fields |
Principal Signer's City | |
Principal Signer's State | |
Principal Signer's Country | |
Principal Signer's Zip Code | |
Principal Signer's Phone |
Common Validation Documents:
Articles of Incorporation
Submitting the Articles of Incorporation will validate the equity percentage required to be an authorized non-profit signer (0%).
Proof of Employment or Management for Non-Profit
If not a managing member, but acting as a control prong, submit proof of contractual management or paystubs, tax returns, and contact information if currently employed there.
Void Check
Must feature owner’s name and/or DBA.
Government Entity or Public Corporation
Business Information:
Business Information | Note |
---|---|
Legal Business Name | |
Statement Descriptor | DBA Name |
Tax ID Number | |
Type (Business Structure) | |
Public Company | Defaults as Public. |
Address | Should be different than Owner/Signer Address |
City | |
State | |
Country | |
Zip Code | |
Phone | |
MCC | |
Website | A Website is required for eCommerce merchants |
Primary Ownership - Government Entities or Public Corporation
In addition to the standard risk checks and reviews performed with standard Merchant boarding, the Platform’s underwriters perform a check for government entities using a third-party vendor.
The specific government entity designation for any individual with control over the organization's payment processing is called a “Principal” and is needed to comply with Card Brand requirements.
Warning: Only one Principal can be included for each government entity.
The following information for at least one Principal is required to board the government entity successfully:
Primary Owner (Principal Signer) Information | Note |
---|---|
First Name | Required |
Last Name | Required |
Date of Birth (DOB) | Optional, but recommended. |
Social Security Number (SSN) | Optional, but recommended.
|
Business Title (Principal's Title) | Role must be in a managerial position otherwise known as a “control prong” by FinCEN CDD Regulations. Warning: Using the ampersand character (&) entered in this field may result in boarding failure. |
Ownership % | Should be 0% |
Principal Signer's Email | Required |
Principal Signer's Phone | Required |
Principal Signer's Address | PO Boxes are not acceptable for owner address fields. |
Principal Signer's City | Optional, but recommended. |
Principal Signer's State | Optional, but recommended. |
Principal Signer's Country | Optional, but recommended. |
Principal Signer's Zip Code | Optional, but recommended. |
Validation Documents:
Proof of Employment or Management for a Government Entity or Public Corporation
If not a managing member, but acting as a control prong, submit proof of contractual management or paystubs, tax returns, and contact information if currently employed there.
Void Check
Must feature owner’s name and/or DBA.