Use case – signing a contract for a payment terminal / payment service with merchants
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Use Case - signing a contract for a payment terminal / payment service with merchants
In the field of digital payments, Poland is a leader in Europe. The vast majority of transactions at points of sale in our country are cashless. The ever-growing interest in this form of payment is influenced not only by the rapid development of technology, but also by changing consumer preferences - awareness of the safety and convenience of cashless transactions is growing. This, in turn, has a direct impact on a significant increase in terminal activity and turnover. The challenge for settlement agents is the appropriate automatic onboarding of merchants.
This challenge can be divided into:
- Verification of the credibility of the company/merchant
- Verification of the identity of representatives, in accordance with their representation in the National Court Register
- Delivering the contract remotely
- Signing a contract
Digital payments, although much more convenient and faster than cash payments, require a guarantee of transaction security and certainty in the verification of the person making them. In the case of a company, it is not only about checking who can represent it and make payment decisions, but also about determining its financial credibility.
Solution:
- Accurate verification across broad data resources – Digital Gateways starts verification from Mastercard's broad resources, which allows you to immediately check whether the company registering for the service is who it claims to be. At the same time, the analysis of the so-called fingerprint of the client's browser and device is being done. Therefore, the information collected while the user is on the website is checked, which enables initial anti-fraud verification.
- Checking the company's credibility - Using the Tax Identification Number (Polish NIP), Digital Gateways checks information about the company in available public sources, including: its status to ensure that it is active and its activities have not been suspended. It also confirms the type of business it conducts in the list of PKD codes (Polish Classification of Activities), and also verifies sanctions lists, i.e. it checks it in terms of AML (anti-money laundering). Digital Gateways also focuses on financial issues, such as its credit history. If we are dealing with an online store, its website is also subject to verification - it is about checking whether it has regulations and whether it has an MCC (Merchant Category Code) assigned to companies that handle payments by cards.
- Remote verification of the identity of the company's representatives - If the company's verification is positive, its representatives indicated in the National Court Register are checked. Digital Gateways uses all the most important and available methods of identity verification in the remote world. These are: biometric video verification of faces and documents, verification of electronic documents, mObywatel 2.0 application, analysis of banking data using the MojeID technology (provided as the KIR SA hub) and Open Banking (through its daughter company AIS Gateway). Importantly, if the company has two representatives, both of them must be verified.
- Advanced electronic signature, i.e. a document form - After successful verification, company representatives can submit a digital signature. It is possible to use electronic stamps, which does not require the work of proxies on the part of settlement agents.
The onboarding process involves several stages and is complicated because it takes into account many elements that must be verified quickly, efficiently and effectively. Digital Gateways has a proven and complete tool that supports this process and facilitates full control of the entity registering for the service.
