Merchants
Every BNYPay merchant goes through the same seven-stage journey, from the first application to ongoing monitoring after go-live.
Overview
Each stage builds on the one before. Knowing what's coming helps you prepare the right information early.
Tell us about your business and how you plan to use BNYPay.
We verify the business and the people behind it.
We review what you sell and where you sell it.
We assess whether the business fits our policies.
You review and sign the merchant agreement.
Your account is approved and switched on.
We keep reviewing activity after go-live.
Stage by stage
Tell us about your business and how you plan to use BNYPay.
You share basic details such as your business name, contact person, what you sell and how you expect to accept or send payments.
What you may be asked for: Business name, a contact person, what you sell and how you plan to use BNYPay.
We verify the business and the people behind it.
Know Your Customer (KYC) and Know Your Business (KYB) checks confirm the identity of the business, its authorised signatories and, where applicable, its owners.
What you may be asked for: Business registration or constitution documents, and identity and address documents for authorised signatories and, where applicable, owners.
We review what you sell and where you sell it.
This usually includes your website or app, product or service descriptions, and published customer policies such as terms, privacy and refunds.
What you may be asked for: Your website or app address, product or service descriptions, and your published customer policies.
We assess whether the business fits our policies.
Each application is assessed against BNYPay's risk and eligibility policies. This helps protect merchants, their customers and the payment ecosystem.
What you may be asked for: Answers to any clarification questions about your business model.
You review and sign the merchant agreement.
Commercial terms and the merchant agreement are shared for review and acceptance, together with any remaining documents.
What you may be asked for: Review and acceptance of the merchant agreement, plus any outstanding documents.
Your account is approved and switched on.
Once approved, your account is activated and you can start integrating and going live with the agreed products.
What you may be asked for: Confirmation of the products to activate and a contact for integration.
We keep reviewing activity after go-live.
Merchant accounts and transactions continue to be reviewed after activation, and you may occasionally be asked to update information or documents.
What you may be asked for: Updated information or documents when we ask for them.
Prepare
Having the basics ready helps your application move through the early stages.
Open the full checklistFAQ
Yes. Every merchant goes through the same staged journey, although what each stage involves depends on your business type and the products you need.
It depends on your business and how quickly the requested information is provided. We do not publish a fixed approval timeline.
Yes. Applications are assessed against BNYPay's eligibility and risk policies, and not every business can be supported. Check business eligibility before you apply.
You can integrate and go live with the agreed products. Accounts continue to be reviewed after activation, and you may occasionally be asked to update your information or documents.
Send us a few details about your business and our team will guide you through each stage.