Chapter
7

How to Apply for a Payment Gateway


The documents differ for different kind of companies. However, most of the KYC documents remain the same. But here are a list of the main documents, usually required to apply for an online payment gateway. 

PAYMENT GATEWAY DOCUMENT REQUIREMENTS

  1. Photo ID Proof (Signing Authority )
  2. Office Address Proof 

Own Property – Electricity bill

Rent Property – Rent Agreement copy & Electricity bill

Bank Account : Statement OR Passbook

  1. Cancelled Cheque – For the bank account into which you will be receiving payments.
  2. Financial Proof – Current Account statements for last 12 months with Bank seal and Bank Logo. OR Audited Balance Sheet with P & L Account statements for last 2 years.
  3. Additional Documents – 

Sole Proprietor 

  1. Registration certificate (in the case of a registered concern)
  2. Certificate issued by the Municipal authorities under Shop & Establishment Act
  3. Sales and income tax returns
  4. CST/VAT certificate
  5. Certificate/registration issued by Sales Tax/Service Tax/Professional Tax authorities.

Partnership/LLP Firm

  1. Certificate of registration (for registered partnership firms only)
  2. Copy of partnership deed
  3. Copy of Pan Card of Partnership Firm
  4. Board resolution applicable in case of LLP only (on letter head of LLP) a resolution passed in favor of authorized signatory.

Public Limited/Private Limited 

  1. Memorandum / Articles of Association and Certificate of Incorporation. (1st and Last 3 Pages)
  2. List of Directors details from MCA Website.
  3. Company Pan Card.
  4. Board Resolution

Other (Education/Government/NGO) 

  1. Memorandum of Understanding / Certificate of registration (for registered trust only) & Copy of Trust deed or Society Deed / Government Certificate.
  2. List of trustees / member/ authorized signatory certified.
  3. Copy of Pan card of Trust.
  4. Trust Resolution

WEBSITE REQUIREMENTS FOR A PAYMENT GATEWAY INTEGRATION

The website should contain the following information: 

  • Name of the company
  • E-mail address
  • Phone numbers
  • P.O. Box and
  • Office Address, Terms & Conditions, Return Policy pages
  • Functional shopping cart if it’s an e-commerce website
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