Entity onboarding for payments
Learn how to onboard entities so that they can accept and make payments.
Overview
To enable an entity to use Monite payment rails, you have to onboard this entity. The onboarding process consists of providing a set of legally required information that will allow the entity to accept or make payments.
There are several ways to onboard an entity, depending on the entity country and whether the partner wishes to use Monite-provided UI or build their own UI.
Enable payment methods
The first step of an entity’s payments onboarding is to choose the desired payment methods for accepting and making payments. The selected payment methods determine the required onboarding information for the entity.
Specify the payment methods that an entity will use to accept and make payments.
Partner onboarding
Monite partners themselves must provide certain information before they can integrate payments:
- To use payment links, the partner must provide their logo and website URL for the “Powered by” badge displayed in the payment page footer.
- To enable UK entities to accept Bacs Direct Debit payments, the partner must provide a support email address. This email address will be included in Bacs debit notification emails sent to the payers, as the contact email address where the payers can send payments-related inquiries.
🇪🇺 EU and 🇬🇧 UK onboarding
The following onboarding methods are available to entities from the EU and UK.
Use Monite API to build your own onboarding UI.
Monite’s <Onboarding> component provides a ready-made onboarding UI that you can embed into your applications.
🇺🇸 US onboarding
Use the following method to onboard US-based entities.
Monite provides a hosted onboarding page that US entities can use to fill in their information.
US entities that wish to use ACH Direct Debit or paper checks must verify the validity and ownership of their bank accounts.
Miscellaneous
Entities that are organizations need to provide information about their key persons, such as the business owners, directors, executives, and the primary representative.
Entities also need to provide the verification documents that prove the business registration and the identity of the business owners and key persons.
Entities may also need to provide their business website, MCC code, and the timestamps of when the entity representative attested the information about its business owners and accepted the payments service agreement.