The Identity Verification is a 5-minute video chat with one of the myPOS team members required in order for myPOS to confirm the merchant’s identity. In accordance with the EU Fourth Money Laundering Directive, all institutions providing financial services are obliged to confirm the identity of a third party before entering into a business relationship. myPOS is legally required to verify every merchant’s identity.
To streamline the verification process and make it quick and easy for the merchants, myPOS has simplified it to a 4-step process. Everything a merchant needs to complete the identity verification is a valid passport or an ID document with a picture. Do note that the myPOS representative will need to be presented with the actual passport or an ID document, not a copy of it.
- An email is sent to the email address provided when creating the account, open the email and click on the provided link to confirm the registration in myPOS
- Download the myPOS mobile app and start the video chat
- The myPOS operator will guide you through the video identity verification
- myPOS team will then review the provided identity document and confirm the completion of the identity verification within 8 business hours
Following the Identity Verification process, the merchant will be required to provide legal documents to verify the company’s identity. The documents required are dependent on the company’s legal form.