By default, you’ll be set up to collect payments via one-time bank payments. If you wish to accept payments via cards or direct debits, you will need to complete a merchant onboarding process, which involves submitting certain company details to comply with payment regulations.
Enabling card payments can significantly increase the likelihood of getting paid faster, as it offers your clients more flexible payment options. However, if card payments aren’t necessary for your business, you can proceed with using the platform with bank payments alone.
Navigate to the Settings tab on the left, select Payments, and click on '+ Activate' in the card and direct debits payments section.
If you are a Sole Proprietorship
If you are a Sole Proprietorship
If your business is operating as a sole trader (i.e. not registered with Companies House), these are the steps to follow:
1. Personal details and sole trader details
As a sole trader, you’ll need to provide some personal information, including your date of birth and country of residency. These details are necessary to comply with financial regulations and ensure that all users of our services are verified. This information will be checked against official records as part of their due diligence process.
2. Bank account details
To enable card and direct direct debit payments, you will need to verify the bank account where you'll receive funds. The account must be in your company's name.
You have two options to verify your bank account:
Instant verification: Verify your account instantly by logging into your mobile banking app or website. This method is quick and secure, allowing you to complete the verification process immediately. Please note, not all banks support this service. If you bank is not show on the list, you should instead upload a bank statement.
Upload a bank statement: If you prefer, you can upload a recent bank statement as proof of your account details. The bank statement must clearly show your business name (which needs to be identical to the business you first registered with Adfin) and be dated within the last 12 months.
3. Signing the Service Agreement and Completing the PCI DSS Questionnaire
Once you’ve verified your bank account details, the final step in the onboarding process is to sign the service agreement and complete the PCI DSS questionnaire.
The Payment Card Industry Data Security Standard (PCI DSS) is a set of security requirements aimed at ensuring that companies handling, processing, or storing credit card information maintain a secure environment. Its purpose is to protect cardholder data from theft and fraud through security measures like encryption, access controls, and regular monitoring. Since Adfin manages the payment process through our partner Adyen, you will not be handling, processing, or storing card information directly. This means Adyen assumes the responsibility for ensuring PCI DSS compliance on your behalf.
If you are a Company or Partnership
If you are a Company or Partnership
If your company is registered as an organisation (e.g., a private limited company, public company, LLP), the onboarding process requires more detailed information to comply with payment regulations.
1. Company details
Company Structure
You'll be asked to specify the type of organisation your business falls under. The options include Private Company, Public Company, Incorporated Partnership, Non-Profit, Governmental Organisation, or Incorporated Association. Select the appropriate option that aligns with your company's legal status.
Registration Details
You will need to provide your company's trading name (if different than legal name), company number, and VAT registration number (if applicable). This information helps us verify your business and ensure compliance with financial regulations.
Registration Documents
You will be prompted to upload an official registration document to verify your organisation's details. This document should be issued by a government authority and must be clear, not cut off, and not expired. E.g Your certificate of incorporation from Companies House.
Bank Account Information
Finally, we need to know the bank account where you wish to receive your payouts. Specifically, we require the name of the account holder and whether the account is registered under your company or your personal name. This ensures that the funds are sent to the correct account, aligned with the organisation's legal setup.
2. Decision-makers
As part of the checks for an organisation, we also verify the identity of all individuals associated with the organisation. We categorise these individuals as owners, controllers, and signatories. The table below describes the criteria for identifying them, and the minimum required number for each:
For each individual identified as an owner, controller, or signatory, you will need to provide their details in the following form:
3. Bank account details
To enable card payments, you will need to verify the bank account where you'll receive funds. The account must be in your company's name.
You have two options to verify your bank account:
Instant verification: Verify your account instantly by logging into your mobile banking app or website. This method is quick and secure, allowing you to complete the verification process immediately. Please note, not all banks support this service. If you bank is not show on the list, you should instead upload a bank statement.
Upload a bank statement: If you prefer, you can upload a recent bank statement as proof of your account details. The bank statement must clearly show your business name (which needs to be identical to the business you first registered with Adfin) and be dated within the last 12 months.
4. Signing the Service Agreement and Completing the PCI DSS Questionnaire
Once you’ve verified your bank account details, the final step in the onboarding process is to sign the service agreement and complete the PCI DSS questionnaire.
The Payment Card Industry Data Security Standard (PCI DSS) is a set of security requirements aimed at ensuring that companies handling, processing, or storing credit card information maintain a secure environment. Its purpose is to protect cardholder data from theft and fraud through security measures like encryption, access controls, and regular monitoring. Since Adfin manages the payment process through our partner Adyen, you will not be handling, processing, or storing card information directly. This means Adyen assumes the responsibility for ensuring PCI DSS compliance on your behalf.