Table of Contents

Overview...........................................................................................................................2
 Pre-Onboarding Team........................................................................................................2
 Verification Team...............................................................................................................2
 Post Onboarding Team.......................................................................................................2
KYC Checklist......................................................................................................................3
Documents to be provided by Company:....................................................................................3
Documents to be provided by Registered Partnership................................................................3
Documents to be provided by Proprietorship.............................................................................4
Documents to be provided by Trust / Society / Education Institute / Government......................4
Documents to be provided by LLP...............................................................................................5
A) Pre-Onboarding process flow..................................................................................................................5
B) Verification Process Flow.........................................................................................................................5
C) Post Onboarding Process Flow.................................................................................................................6
D) Risk & Compliance...................................................................................................................................6
E) Legal Approval.........................................................................................................................................6

Integration.........................................................................................................................7
Due Diligence after Merchant Onboarding........................................................................8
Verification of transactions........................................................................................................8
Records......................................................................................................................................8
Updating records.........................................................................................................................................9
 Merchant Onboarding

Overview
The process of adding new merchants into the IppoPay platform so the merchant can start using the various
Payment Solutions offered is called Merchant On-boarding.

Merchant Onboarding Process of the merchants would be undertaken by the below-mentioned teams by co-
ordinating and co-operating with each other, and performing individually

 Pre-Onboarding Team :- Co-ordination with the sales team for documentation for new Client
Onboarding Document Validation
 Post Onboarding Team :- Check the KYC document also known as the Customer Due Diligence
Check (CDD’) process and verification against the documents provided. Approval/ Rejection with key
factors in check (commercial Approval etc as decided on case-to-case basis)

After the team exchanges the data and scrutinization in various levels, the merchant account services would be
activated. If any discrepancy in the merchant / application, Merchants application would be rejected. The
rejected applicants could be the merchants who are illegal, prohibited, risky (possible fraud), grey past records,
etc.

The merchant onboarding process needs to have the below stages as per the Know Your Customer (KYC) /
Anti-Money Laundering (AML) guidelines issued by the Department of Regulation, RBI, in their “ Master
Direction – Know Your Customer (KYC) Directions”.

Below are the list of documents as per business type :

KYC Checklist
Documents to be provided by Company:

Document Name for a Company To be Signed by

1. Articles of Association (AOA) Signed by any one Authorized Signatory
2. Memorandum of Association (MOA) Signed by any one Authorized Signatory
3. Board resolution Signed by two Authorized Signatory
4. List of Directors from MCA Signed by any one Authorized Signatory
5. Certification of Incorporation Signed by any one Authorized Signatory
6. PAN of the Company. Signed by any one Authorized Signatory
7. GST Registration Certificate Signed by any one Authorized Signatory
8. Undertaking of product/services to be sold Signed by any one Authorized Signatory
9. Current Address proof of the Company (Bank Statement/Utility Signed by any one Authorized Signatory
Bill/Rent Agreement)
10. KYC of all Director's (Aadhar Card, Pan card, Passport/DL/Voter Self-attested
Card)
11. Service Agreement with Entity, Agreement shall be signed Signed by any one Authorized Signatory
printed on stamp Value Rs. 300/-
12. Cancellation Cheque (in which account fund to be settled)
13. Legal Opinion from a Licensed Lawyer

Documents to be provided by Registered Partnership

 Document name for a registered Partnership To be Signed by
1. Partnership Deed Signed by any one Authorized Signatory
2. PAN of the Firm. Signed by any one Authorized Signatory
3. GST Registration Certificate Signed by any one Authorized Signatory
4. Undertaking of product/services to be sold Signed by any one Authorized Signatory
5. Current Address proof of the Firm (Bank Statement/Utility Signed by any one Authorized Signatory
Bill/Rent Agreement)
6. KYC of all Partner's (Aadhar Card, Pan card, Passport/DL/Voter self-attested
Card)
7. Service Agreement with Entity, Agreement shall be signed Signed by any one Authorized Signatory
printed on stamp Value Rs. 300/-
8. Cancellation Cheque (in which account fund to be settled)

Documents to be provided by Proprietorship

Document Name for Proprietorship To be Signed by

1. Shop Establishment Certificate / MSME Registration Certificate/ Signed by Proprietor
Trade License etc.
2. GST Registration Certificate Signed by Proprietor
3. Undertaking of product/services to be sold Signed by Proprietor
4. Current Address proof of business Address (Bank Statement/Utility Signed by Proprietor
Bill/Rent Agreement)
5. KYC of Proprietor (Aadhar Card, Pan card, Passport/DL/Voter Card) Signed by Proprietor
6. Service Agreement with Entity, Agreement shall be signed printed on Signed by Proprietor
stamp Value Rs. 1000/-
7. Cancellation Cheque (in which account fund to be settled) Signed by Proprietor
8. Last 3 Month's Current account Bank statement Signed by Proprietor

Documents to be provided by Trust / Society / Education Institute / Government

Trust / Society / Education Institute / Government - To be Signed by

1. PAN card copies of all the Trustees Self-Attested and with company seal
2. Passport Copy with address page OR Driving License OR Election Self-Attested and with company seal
Card OR Aadhar Card of all the Trustees
3. Offices -Utility Bills or Rental Agreement if premises are on rent Company seal and signed by authorized
signatories
4. Company PAN cards Company seal and signed by authorized
signatories
5. Certificate issued under Companies Act or registration with Charity Company seal and signed by authorized
Commissioners office signatories
6. Trust Deed / Memorandum of Understanding / Society Deed / Company seal and signed by authorized
Government Certificate etc. signatories
7. Resolution Deed on organization's letterhead Signed by two Authorized Signatory
2 years ITR with audited balance sheet OR 1-year current account Company seal and signed by authorized
statement signatories
8. In case of new establishment 6-month account statements of Self-Attested and with company seal
signing authority with one undertaking
9. Bank Account Details on your company letter head Company seal and signed by authorized
 signatories
10. Voided check

Documents to be provided by LLP

Document for LLP To be Signed by

1. Partnership Deed Signed by any one Authorized Signatory
2. PAN of the Firm. Signed by any one Authorized Signatory
3. GST Registration Certificate Signed by any one Authorized Signatory
4. Undertaking of product/services to be sold Signed by any one Authorized Signatory
5. Current Address proof of the Firm (Bank Statement/Utility Signed by any one Authorized Signatory
Bill/Rent Agreement)
6. KYC of all Partner's (Aadhar Card, Pan card, Passport/DL/Voter self-attested
Card)
7. Cancellation Cheque (in which account fund to be settled) Signed by any one Authorized Signatory
8. List of Partner From MCA Signed by any one Authorized Signatory
9. Board Resolution Signed by any one Authorized Signatory

A) Pre-Onboarding process flow

 Sales team initiates email with details of new merchant to be onboarded with the pre-onboarding
team at onboarding.pg@IppoPay.com
 Pre-Onboarding team needs to check for all documents depending on the Type of Merchant
(Company, Partnership, Proprietorship, Trust, Society, Education Institute/Government, LLP)
 In the absence of any one or more of the above documents, the onboarding process is halted till
the merchant is able to produce the same. The above requirements are non-negotiables and
cannot be replaced with any other documents.
 Sales team has to give the documents as per the checklist & if there are any deviation in
documents then the necessary approvals should be maintain and the same details needs to be
updated in the tracker.
 Post successful checks of all documents and information the same set of documents checklist
needs to be printed and kept as part of the documentation process along with the physical
documents submitted by the Sales team
 Verified sets of documents then needs to be send to onboarding.pg@IppoPay.com for further
process.

B) Verification Process Flow

 Authentication and Verification call to be done to the merchant verifying the website or mobile
application, products, site owners, shareholders, the legality of the business/products, online
presence, and impression, reviews, email address, mobile number, customer care details, address,
and Bank Details.
 During verification if any of the details provided does not match with the details provided, the
verification team will revert to the Pre-Onboarding team with reasons.
 Post verification, Bank details needs to be registered with our Nodal/Escrow partner banks for
settlements
 Internal mail communications to be made post successful verification
C) Post Onboarding Process Flow

 MID/TID request is initiated to all our partner banks

 Onboarding of documents is done in our system (Maker)
 Accept / Reject the onboarding basis the information received/provided, check for all minute details
including the name of the merchant, Velocity Checks Rates, and the bank details registered (Checker)
 Assign individual MID as per the category of the merchant
 Details of merchant (Partner ID, Retailer ID & Bank ID) are released to the Tech team for integration
related activities.

At this point the merchant is ready to commence their business using IppoPay Payment Solutions.

D) Risk & Compliance

 Once the documents are completed as per checklist, ops team will share it to rcu team for their
approval.
 Rcu team will check as per risk & compliance perspective, if they find any discrepancies will come back
to ops team for update
 Post onboarding team will check with sales team and provide the update to rcu team
 After scrutinizing all the documents, website of the merchant, rcu team will provide the approval
 Post Approval from rcu operations team can go ahead with the merchant onboarding in the IppoPay
panel.

E) Legal Approval

 Once we get approval from rcu team , operations team needs to share the merchant agreement with
the legal team for vetted by legal team.
 Agreement must be in word format for legal check
 Legal team will check the agreement and revert back to operations team if there are any changes, if it
is correct as per legal perspective will provide the approval to execute it in stamp paper
 Once approval is received from legal team , operations team will ask the sales person to execute it in
stamp paper and provide it back to operation team for legal records.

Integration
This Part start when the merchant MID keys received from the Aggregators or Banks. We need to send this
MID details along with IppoPay Merchant details to Tech team. Currently we send the details to – Sagar Pawar
(sagar.pawar@IppoPay.com).

Please find the below standard format for Integration request -

File name consist below details –

 1. DBA Name – This is the Merchant registered name in IppoPay System. DBA Name and Master
Merchant name will same if Merchant required.
2. Master Merchant Name – This indicates the merchant Legal name (We only consider the Legal name
mentioned in Cheque Book).
3. Shop ID – Lyra identification unique ID received at the time of MID credentials received.
4. MCC – Lyra Merchant MCC code indicate the merchant line of business.
5. IppoPay Merchant MID – This indicates Unique merchant MID details which generates at the time of
Merchant Onboarding in IppoPay Admin panel.
6. Lyra Merchant MID – This indicate the merchant MID credentials which we received by Lyra or an
Aggregator which will use for Integration.
7. Test API Key – Received from Lyra or Aggregator at the time integration credentials send.
8. Production API Key – Merchant MID Key which will use at the time of integration between
Aggregators to IppoPay Technology.
9. E-mail ID – While doing the integration Tech required Merchant login credentials. We have to send e-
mail id to login Merchant Dashboard.
10. Contact No – Merchant contact no required, if any technical discrepancy occurred while doing the
Integration between IppoPay and Merchant Website. To resolve it we provide the contact no so tech
team can directly communicate to the merchant.
11. Password – Merchant Login password to login into the merchant dashboard.

The above all fields are mandatory for integration between Aggregator / Bank to our system.

We need to send the commercials to tech team if amount is fixed into INR. In our system we don’t have an
option in front end to charge customer into INR.

So we need to send the commercials to Tech team, they will integrate from back end and confirm us on email.

If IppoPay Tech team finds any difficulty while integrating with Aggregator then we need to again check with
Aggregator and raised query to them with details.

After successfully merchant integration done at tech team end they will confirm us on email with test
transaction details. We can see the test transaction details on the merchant panel or IppoPay Admin panel.

Due Diligence after Merchant Onboarding

 The due diligence shall continue after the merchant onboarding.
 The team would track his merchant account for any changes or deviations from the approved details and
documents (For example, changes on the website, product listing, etc. This may also require re-analysing
and categorizing the merchant.)

Verification of transactions

 The merchant cannot accept the payments for any other activities or the business model for which the
merchant account is approved. (Necessary actions need to be taken in case of any deviation from the
approved business model.)
 The transaction monitoring, customer complaints, unusual activities, etc. would give an idea if any other
activities are carried out.

Records
 Merchant records are to be maintained in a proper system such as transactions and identity documents
for at least 5 years. This is with reference to provisions of the Prevention of Money-Laundering (PML) Act
 and Rules. On request, these identification records and transaction data need to be provided to the
competent authorities.
 Transactions records would include nature, amount of the transaction, and the currency in which it was
denominated, the date on which the transaction was conducted, and the parties to the transaction.

 Below are the points followed in records :

i. Received Date : the date on which sales team has sent the lead.

ii. Merchant Name : Name of the merchant came from sales team

iii. Sales Person Name : Who have sent the lead

iv. Document Status : If all the documents are available then done & If few docs are not available then
pending.

v. Deferral : if some documents are not available and merchant agrees to provide it in few days. To
proceed further with minimum documents sales team need deferral approval for further process.
vi. Wavier : if merchant denies to provide any document, at that wavier approval has been taken from
business head.
vii. Date of Approval received from RCU Team : The date on which rcu has approved the merchant
viii. Date of Approval received from Legal team : The date on which legal team have approved the
merchant agreement.
ix. Deferral Given by :

Updating records

o Periodic update of the KYC and Categorizing as per the risk level needs to be done. It is every 10 years
for low risk, 8 years for medium, and every 2 years for high risk. The same applies to the Ongoing due
diligence.
o Below are the Steps for merchant Onboarding

Step 1 : Login to website www.IppoPay.com for merchant onboarding

Step 2 : Sign up for new merchant account login

o For Individual Merchant :

o For Business Merchant :

Step 3 : Update the merchant details as below screenshot

  Full Name : Merchant Name as provided in MAF
 Mobile Number : Merchant Contact Number to be updated in system (provided in MAF) Also one time
OTP will be send on the same number.
 Email : Merchant email id need to be updated also to create login id (will be provided in MAF) One
time OTP will be received on the same number.
 Password : Merchant/Operations team can create an password for login.
 Select : Need to select the state from where merchant belongs

Step 4 : After creating a account into IppoPay portal

 Enter Email Verification Code : After creating the account in portal OTP will be provided on the given
email id
 Enter Phone number verification code : Same as email id merchant will receive OTP in the phone
number
 Verify the OTP : After entering both the otp need to verify it
Step 5 : Click on verify OTP for further process. After verifying dashboard page appear

Step 6 : Uploading Merchant Details

Click on to “ Upload Here” and update the merchant details along with Aadhar card
Step 7 : To create referral link onboarding team need to copy the referral link for further process. Below
screenshot have the referral link

Reseller Creation Link

https://app.Ippopay.com/referral-signup

Once the Referral merchant is onboarded in system same process will be followed as the normal merchant.
Step 9 : After onboarding we need to update the below details in our IppoPay Admin Panel

 Need to click on merchant list for the merchant details

 We can search with the merchant name, merchant documents status, merchant status
 Click on the merchant which we need to onboard and for which we need to update the details
 After selecting the merchant we can update details for the merchant

1. Merchant info : it includes all basic details of merchant

2. Commission : The tab includes the rates to be charged for the merchant.
- Operations team needs to update the commercials as provided in MAF (merchant application
form)
- If fixed fee need to be charged, ops team need to ask tech team to update the rates from
backend

3. Referral Commission : In case of reseller merchant we need to update the referral commission as
provided by sales team

4. Settlement Cycle : it includes the no of days the settlement will be done to the merchant
5. Bank info : Operations team needs to verify bank details here, If it is not updated in them ops will be
updating the bank details. At the end will verify and approve the account
6. Routing : Through the payment flow is going

7. Payment Mode : Need to enable the payment mode as per MAF