Document information and change log

Document Information

Change log

Gender And Entity Neutrality

The masculine form is used solely for the sake of better readability. It always refers to persons of any gender identity (m/f/diverse). This document uses the abbreviation “Give” for all legal entities and subsidiaries.

Table of Contents

Introduction        4

Building a Secure Merchant Profile        4

Merchant Identifier (MID)        4

MID Requirements        4

US Federal Tax ID        5

Customer Identification Program (CIP)        5

Primary Account Holder (PAH)        5

Primary Account Holder is a Beneficial Owner        6

Legal Entity        6

Principal (Beneficial Owner)        7

Bank Account        8

Merchant Onboarding        9

Initial Signup        9

Business Classification        9

Personal Details        11

Business Details        12

Verify Email        13

Set Password        14

Complete Profile        16

Verify your Identity        16

Personal Information        17

Upload your ID        18

Take a selfie        19

Identity Verification Uploaded Successfully        20

Business Details        21

Business Details        22

Business Address        23

Add Business Owner        24

Merchant Info        27

Connect a bank account        28

Sign Agreement        29

Merchant Agreement        30

Terms of Service        33

Signature        34

Post Signature        35

Merchant Agreement in Settings        36

Underwriting Approval and Merchant Application Snapshot        37

Merchant Application PDF        38

Signed Merchant Application        47

Introduction

This guide presents a comprehensive overview of the onboarding process for merchants at Give Corporation (“Give” or “Company”). It walks through each critical step, from initial signup to the final verification stages, ensuring merchants provide all essential details for their profiles. This includes personal and business information, legal entity validation, and bank account verification. By completing these steps, merchants will be fully equipped to securely accept payments and manage financial transactions through Give.

Building a Secure Merchant Profile

Merchants are meticulously guided through key steps, starting with providing detailed personal and business information. This stage is vital for verifying the primary account holder's identity, understanding the legal structure of their business, and ensuring all operations align with stringent regulatory standards. Adhering to the principles of Know Your Customer (KYC) and Customer Identification Program (CIP), our approach not only meets compliance requirements but is also tailored to address the unique needs of each merchant. The thorough collection and verification of essential data lay the groundwork for issuing the Merchant Identification Number (MID), a critical element for enabling merchants to effectively process payments and manage their financial transactions.

Merchant Identifier (MID)

Obtaining a Merchant Identification Number (MID) is a vital step for merchants at Give to enable payment processing. As part of our streamlined onboarding process, Give submits the required information, including legal and business details, to the acquiring bank through an efficient API. This process is typically rapid, with responses usually generated in milliseconds, though occasionally it may extend to a few seconds. Once the MID is successfully issued, the merchant is immediately notified with a confirmation message. If there are any discrepancies or issues in securing the MID, the merchant receives a prompt notification outlining the necessary corrective actions. In certain instances, the acquiring bank may require a manual review, which can extend the MID approval time to a few days. During such reviews, merchants are kept informed of the status and any additional steps they may need to take, ensuring a transparent and responsive onboarding experience.

MID Requirements

In the Give onboarding framework, a Merchant Identification Number (MID) is issued only after certain key requirements are met. Firstly, the merchant must be linked to an approved Legal Entity, which is part of their Business Profile and includes at least one Principal or Business Owner. Additionally, the merchant is required to have a valid US Bank Account, as our services currently cater exclusively to the US market. The generation of the MID occurs after a comprehensive process where all Know Your Customer (KYC) information has been collected, thoroughly verified, and has received the final approval from our underwriting team. This ensures that every merchant onboarded through Give meets our stringent standards for security and compliance.

US Federal Tax ID

In our process, Give cross-references the provided US Federal Tax ID or Social Security Number with the legal entities in our database. This helps determine whether a merchant needs to establish a new Legal Entity or can link to an existing one in our system.

If the Merchant is linking to an existing Legal Entity:

• The Legal Entity must have multiple merchants enabled
• The Legal Entity must be verified and underwriting approved
• A notification is sent to the Legal Entity contact User
• The Legal Entity contact User can accept or deny the linking
• If denied the Merchant must create a new Legal Entity

Customer Identification Program (CIP)

Give’s CIP is designed to meet regulatory compliance requirements and to prevent financial fraud, money laundering, and other illegal activities. This program is essential for maintaining the integrity of our financial transactions and ensuring the security of our customers' information.

Primary Account Holder (PAH)

In our process, we focus on thoroughly verifying the identity of the main person in charge of the account. This includes checking their personal information, ID documents, and evaluating any potential risks. Our aim is to ensure all transactions are secure and meet legal requirements. The table below lists the necessary details we need for this verification.

Primary Account Holder is a Beneficial Owner

If the Primary Account Holder is also a beneficial owner, the following additional fields are required:

Legal Entity

Verifying a Legal Entity is a crucial step to ensure the legitimacy and compliance of our business engagements. This process involves a detailed examination of the entity's official documentation, such as articles of incorporation, business licenses, and tax identification numbers. Our objective is to authenticate the legal status of the entity, understand the nature of its business activities, and assess any associated risks. Below is a table outlining the specific fields required for the thorough verification of a Legal Entity, underscoring our commitment to maintaining robust standards of corporate integrity and regulatory adherence.

Principal (Beneficial Owner)

Identifying and verifying the 'Principal (Beneficial Owner)' involves confirming the identity of the individual(s) who ultimately own (at least 10% ownership) and also the individual who exercises significant control over the business entity. We collect key information such as personal identification details, percentage of ownership, and the nature of control exerted over the business. This step is crucial in understanding the operational and financial dynamics of the entity, as well as in ensuring compliance with anti-money laundering (AML) regulations and mitigating financial risks. Below, you will find a detailed outline of the required information for verifying a Principal (Beneficial Owner), reinforcing our commitment to secure and transparent business practices.

Bank Account

Verifying the 'Bank Account' information is a critical step to ensure secure and compliant financial transactions. This process entails authenticating the bank account details provided by our clients, which includes the account number, bank name, and routing number. Our goal is to confirm that the account is valid, legally registered, and owned by the entity or individual engaging in the business relationship with us. This verification is vital for facilitating smooth financial transactions, preventing fraud, and adhering to anti-money laundering (AML) standards. The section below specifies the necessary bank account details we require, highlighting our commitment to maintaining the highest levels of security and regulatory compliance in all financial dealings.

Merchant Onboarding

This outlines the onboarding process for a merchant creating an account, detailing the necessary steps to complete their profile. This information is essential for the merchant application, which undergoes underwriting and customer identity verification.

Initial Signup

The Initial Signup stage marks the beginning of a merchant's journey with our platform. In this phase, merchants are required to create their account by providing basic information such as their name, email address, and contact details. This step is designed to be straightforward and user-friendly, ensuring a smooth and efficient entry into our system. Upon completing the initial sign up, merchants gain access to their dashboard, where they can proceed with further steps of the onboarding process. Our aim is to make this initial interaction as seamless as possible, setting the stage for a comprehensive and secure experience with our services.

Business Classification

Step 1: Business Classification - In this step, account holders identify the nature of their business activity by selecting one of the following two primary options:

• I manage a merchant portfolio – for entities overseeing multiple merchants or accounts. Selecting this option will prompt to choose one of the following classifications:
  

• ISO – Independent Sales Organization.
• PSP – Payment Service Provider.
• Fiscal Sponsor – Nonprofit organizations that manage financial transactions
• Merchant Service Provider – Providers offering comprehensive payment processing solutions.

• I accept payments or donations – selecting this option will proceed with creation of a merchant account and will prompt the merchant to choose one of the following classifications:
  

• For-profit business – Commercial entity operating for profit.
• Non-profit organization –An organization that is created and operated for charitable or socially beneficial purposes.
• Crowdfunding – Individuals or organizations raising funds for projects.
• Individual – An individual business, also known as a sole proprietorship.

Personal Details

Step 2: Entering Personal Details - This  step involves merchants providing their personal information, including full name, address, and contact details. This crucial phase establishes the merchant's identity within our system and lays the groundwork for subsequent verification processes.

Business Details

Step 3: Business Details - In this step, merchants provide key information about their business, such as the business name, type, and tax ID. This data is vital for gaining a comprehensive understanding of the business's operations and for customizing our services to fit the specific needs and regulatory requirements of each merchant.

Verify Email

Once the Primary Account Holder completes the steps, providing Business Classification, Personal Details and Business Details, an email is sent to the address they entered during the first step. This email contains a verification link. Clicking on this link confirms the validity of their email address and redirects them to a page where they can set their password.

Set Password

After verifying their email they are prompted to set a secure password that must be:

• Minimum of 12 characters
• One lowercase and one uppercase characters
• One number
• One special character

Complete Profile

After setting their password, the user is directed to a login screen. Here, they need to enter the email address used during sign-up and the newly created password. This allows them to access the merchant portal, where they are prompted to complete their profile.

Verify your Identity

The first step in completing the profile is to confirm the identity of the primary account holder. This process includes entering personal information, uploading a form of identification, and providing a selfie to match against the uploaded ID.

Details

ID Document

Photo with ID

Identity Verification Uploaded Successfully

Business Details

The merchant is required to supply comprehensive details about the legal entity they operate under. This includes information about the beneficial owners of the business. Additionally, they need to provide further information about their business.

Business Profile

Business Address

Add Business Owner

Business Details

Connect a bank account

The merchant has the option to link a bank account by manually entering their bank account details.

Sign Agreement

Once the merchant finishes setting up their profile, they must complete and digitally sign the merchant agreement. In the process of completing the agreement, the merchant is required to input their refund policy, confirm their compliance with PCI standards, and provide details about any previous terminations of merchant accounts. They must then read the agreement, confirm their agreement by checking the appropriate box, and sign it digitally.

Merchant Agreement

Merchant Agreement and Terms of Service

Signature

Post Signature

After the merchant application is fully completed and agreed upon, it proceeds to underwriting for final approval. Merchants can access and download their signed agreement at any time from the settings section of their Merchant portal.

Should there be any updates to Give's terms of service, merchants will be prompted to sign the latest version of these terms. They will also receive notifications if their agreement is not up-to-date with the most current version of the terms of service.

Merchant Agreement in Settings

Underwriting Approval and Merchant Application Snapshot

Once the merchant has signed the agreement, they are no longer able to make any changes to the Merchant Application themselves. Any necessary modifications to the application must be made by the underwriter. After underwriting approval is obtained, no further updates can be made to the Merchant Application. At this point, a snapshot is taken, which includes the Merchant Application, the original version of the terms of service to which they agreed, the date and time the agreement was signed by the merchant, and all the Know Your Customer (KYC) information collected at the time of the agreement's signing.

Merchant Application PDF

This document contains an abridged version of the terms of service. For the full and detailed version, please refer to the Merchant Services Agreement.

Signed Merchant Application

The information contained herein is intended to provide a general overview of the Company’s policies and procedures relating to compliance with this Policy and does not constitute legal advice or a complete description of the laws and regulations relating to this Policy. The Company has made every effort to ensure the accuracy and completeness of this Policy.  This document is intended to provide guidance to employees of Company on how to comply with applicable laws and regulations related to this Policy. Employees should consult with the Legal or Compliance Department if they have any questions about the Policy or how to comply with it. Company reserves the right to modify or update this Policy at any time without notice. Employees are responsible for reviewing the Policy on a regular basis to ensure that they are aware of any changes. This Policy applies to all employees of Company, regardless of their position or location unless stated otherwise in the Policy. Employees are responsible for complying with the Policy and for reporting any suspected violations to their respective supervisor, the Legal Department, CCO or respective recipient of such violations as outlined in this Policy.