Have you ever wondered how the Loyaltek Group - and Paynovate - got their start? Time to meet our...
You read that right - Paynovate now offers instant onboarding for new merchants using Paynovate acquiring.
With Instant Onboarding, new merchants can begin accepting payments on their terminals while still undergoing the Know Your Customer (KYC) legal compliance procedure. These payments will be held until KYC is completed: if KYC is successful, the payments will be paid out to the merchant and they will receive full access to MyPaynovate and Paynovate acquiring. Should KYC for whatever reason be unsuccessful, the merchant will receive a full report and will not receive the withheld payments.
So how does this work?
Paynovate's team of Agents will now be able to instantly onboard new merchants themselves via MyPaynovate and can begin service while Paynovate completes the legal requirements for digital payments. KYC outcomes should be known within 2 weeks meaning the payment hold is less than a single payment period.
Are you interested in becoming a Paynovate Agent? Reach out to us today!
