Onboarding of Merchant Information
All merchants must comply to the following
🔄 Process
1. Sub-Merchant Request (Partner to complete)
The TI raises a Service Desk ticket to request sub-Merchant creation Azupay - Jira Service Management (atlassian.net). Azupay will provide status updates to TI on sub-merchant application progress. Instructions for raising a JIRA ticket for sub-merchant are found here .
2. Application (Merchant to complete)
As part of the Onboarding process the Merchant will need to complete an online application that requires the following information about their business, their compliance and controls and what we need to set them up in the Azupay System.
| Your business details | Compliance | Setup and Contacts |
|---|---|---|
| Trading addressIndustry type Business size Financial, Dispute and Forecast Sales | AFSL status AUSTRAC status Future Business Profile changes Any previous legal action or regulatory complaints Confirmation of Relevant Policies and Procedures Forecast transactions counts | Estimated go live date Contact details Technical contact PayID Domain and time limit (if Req.) Help desk contact Settlement Bank Account |
3. Verification (Azupay to complete)
In addition, and under AUSTRAC legislation, it is a mandatory legal requirement to verify the identity of related individuals (Authorised signatories, beneficial owners, and persons with substantial control) of the organization and is known as “Know Your Customer” (KYC).
This is carried out after the application above is completed, by our partner MVSi who request the required information from the Merchant and perform the necessary checks against the organisation and the related individuals.
Azupay maintains certain rules and standards that are required to be met for an organisation to become a client. These are as follows:
- Not on the Azupay Prohibited Industries List - The client is not on the Azupay Prohibited Industries List (See the Prohibited Industries list).
- Australian ABN & Bank Account - Clients must hold an ABN and/or ACN and Australian Bank account matching their legal entity name.
- Australian Registered Office - The client can be foreign owned (i.e., Australian branch of Ikea) but must have a registered office in Australia (ASIC registration) and an Australian Business Number (ABN).
- No Illegal Practices - Clients must not have business relationships where you suspect that their payment products or services might be used for illegal purposes.
- No Sanctions applicable - Clients must not be an entity where the company, person or entity is subject to Australian autonomous sanctions or UN Security Sanctions.
- No Complex Ownership Structures - Clients must not have complex business ownership structure with no legitimate commercial rational.
- Not an Unincorporated Association - Clients cannot be an unincorporated association (a group of people working towards a common purpose without being a separate legal entity. e.g., local music groups, social groups).
- PCI/DSS Compliant PSP’s - Card Acquiring Payment Service Providers which process, transmit or store cardholder data must only be used if they are fully PCIDSS compliant.
- Foreign Exchange Remitter to High-Risk Destination Countries - The client should not send funds overseas to countries that are deemed not suitable by AUSTRAC for reasons such as potential funding of terrorism. Any remitter sending funds to any of these countries will be assessed separately and will be determined if they are suitable to be brought on as an Azupay customer (See list of countries below).
Updated 5 months ago