At PayG.in (PayG), we facilitate a transparent and efficient merchant onboarding process to expedite payment acceptance and consequent revenue generation for businesses. As a merchant, you can expect continued support and guidance from our sales and account management teams when establishing a relationship and throughout the payment lifecycle thereafter.
PayG is a Payment Aggregator (PA) and adheres to the Know Your Customer (KYC) Direction, 2016 Guidelines. You can thus trust that all your payment transactions with us will be secure and safeguarded against several risks such as fraud, money laundering, terrorism financing, etc.
Through PayG’s fast and frictionless signup process, merchants can start accepting payments with ease; however, they need to ensure that their basic details and requirements are available and updated.
The following are the requirements that need to be adhered to by the merchants for availing PayG's payment gateway services.
Merchant Onboarding Process
Your Onboarding journey begins when you express an interest in PayG solutions and services and continues beyond account activation for tracking periodic updates and continuous due diligence.
Merchant Registration
Your Onboarding journey begins when you express an interest in PayG solutions and services and continues beyond account activation for tracking periodic updates and continuous due diligence.
You can express interest in PayG services by:
1. Sending an email to sales@payg.in
2. Contact to your Reseller
Our Sales team collates the online forms or emails and forwards them to the Relationship Management team members to initiate the merchant registration process.
Relationship Manager Assignment
Post-registration, you are assigned a Relationship Manager (Sales Person) who will act as a primary Point of Contact (PoC) throughout the onboarding process. The Sales Person will understand the nature of your business and explain the KYC requirements accordingly.
Document Submission
You can submit a duly signed Merchant Application Form (MAF) and other supporting documents to the Sales Person. The Sales Person will perform an initial check of these documents with the originals and submit them to the PayG Merchant Onboarding Team for further verification.
KYC Verification
PayG's KYC (Merchant Onboarding) policy aims to establish the merchant's identity, address and existence by verifying documents. The documents that need to be submitted depend on the constitution type of the merchant.
Note: All the documents of the legal entity need attestation by an Authorized Signatory of the entity. To establish that the Authorized Signatory has the authorization to transact on behalf of the legal entity, a Board / Authority Resolution and Power of Attorney is required.
In addition, PayG also needs to identify and know the particulars of the Beneficial Owners of the entity. Beneficial Owner is (are) the natural person(s) who has/have a controlling ownership interest in the entity - Refer clauses 3(a) iv and 34 of RBI Master Direction.
You must submit the KYC documents of the Authorized Signatory and Beneficial Owners. Refer KYC Documentation List - Onboarding (Link will change) to know the document list related to your business.
During acceptance, a PayG employee marks documents received as 'Original seen and Verified' by a PayG employee during acceptance.
Additional Due Diligence
You can begin your payment journey with PayG once the following verifications are completed:
1. PAN Verification
2. GST Verification
3. Negative Database Verification
4. Bank Account Verification
A Merchant ID (MID) will be issued to you after the completion of the KYC process. Your submitted documents and other information will be retained during the course of the business relationship and at the end of the business relationship as per the RBI guidelines.
CKYC Adherence
You can help us expedite the KYC verification process by providing your Centralised Know Your Customer (CKYC) identifier. In addition, we also need your explicit consent to retrieve your documents from the CKYC portal.
If you have provided these details, we will not require you to submit these documents unless:
1. There is a change in information and / or the current address of the merchant is required to be verified. and / or
2. PayG considers it necessary to: a). verify the identity or address of the merchant, or b). perform enhanced due diligence or c). build an appropriate risk profile of the customer and / or d). additional document(s)/information are required as per the KYC policy
Post Activation
We perform regular checks with regulatory databases and risk categorization of our Authorized Signatory and Beneficial Owners. We also undertake Re-KYC for existing merchants on a periodic basis and the periodicity depends on the Merchant's Risk category. We also conduct regular monitoring of transactions to ensure compliance with the PMLA Act and the Rules.
These background activities are conducted on a periodic basis while you continue to use our payment products and services to accelerate your digital business and revenue growth.
Website Compliance Requisites
Merchants' Website Compliance
As per the set standards, the following details must be available on the merchants’ website/mobile app/electronic invoice raised to collect payments from the customers.
Domain must be registered
Website must be SSL Certified
Website IP must be in India
About us Page
Registered Company Name as per the submitted business KYC must be mentioned
All Services/ Products must be displayed with pricing in INR
No Banned Products/ Categories in the Website
Terms and Conditions Policy
Privacy Policy
Website Name needs to be specified
Refund and Cancellation Policy
Mode of Refund, Refund Scenario's, Refund Timelines must be specified
Shipping and Delivery Policy (If Shipping is applicable)
Contact Us Page
Registered Business Address must be specified along with Support Contact number and Email ID
Website to be integrated with PayG
Not Mandatory
Banned Business Categories
At the initial stage itself, the Merchant is informed by our team of the list of businesses for which payment processing services will not be offered by PayG. He must check whether his business falls under the prohibited list or not, and proceed accordingly.
Click here to view detailed information on the prohibited businesses.
Document Submission
Once the merchants have provided their business, contact & bank details through the online signup process, they need to upload their KYC documents to complete their registration.
Merchant Onboarding Documentation
KYC Documents Checklist (Entity)
This section lists the KYC Documents that merchants need to submit for verification during the merchant on-boarding process.
NOTE: Payg.In (PayG) shall verify each of the duly self-attested KYC documents submitted by the merchant and compare them with the original. An authorized officer of PayG shall also maintain a record on the copy as 'Original Seen and Verified'.
KYC Documents (Related Person)
This section provides the list of KYC documents required for Individual, Beneficial Owner (BO), Authorized Signatory (AS) or Power of Attorney (PoA) holder (related to a Legal Entity) and Sole Proprietor. Certified copies of each of the following documents are required:
Permanent Account Number or Form No. 60 as defined in Income-tax Rules, 1962
Documents that specify the nature of business and financial status of the merchant (applicable while establishing a relationship with an individual)
The proof of possession of Aadhaar number where offline verification cannot be carried out or any Officially Valid Document (OVD) containing the details of the individual's identity and address.
Recent colour photograph duly countersigned
Officially Valid Document (OVD)
OVD includes the following documents:
Passport
Driving License
Proof of possession of Aadhaar number
Voter's Identity Card issued by the Election Commission of India
Job card issued by NREGA duly signed by an officer of the State Government
Letter issued by the National Population Register containing details of name and address
Where the referred person submits their proof of possession of Aadhaar number as an OVD, they may submit it in such form as issued by the Unique Identification Authority of India.
In case of Non-Resident Indians (NRIs) and Persons of Indian Origin (PIOs) - PayG shall seek to obtain the original certified copy of the above-mentioned documents as defined in the Foreign Exchange Management (Deposit) Regulations, 2016 {FEMA 5(R)}, alternatively, certified by approved authorities/officials in the Directions.
In case, the OVD presented by a foreign national does not contain the details of address - PayG shall accept the documents issued by the Government departments of foreign jurisdictions and letter issued by the Foreign Embassy or Mission in India as Proof of Address.
Individual
Section 2(62) of Companies Act defines a one-person company as a company that has only one person as to its member. Furthermore, members of a company are nothing but subscribers to its memorandum of association, or its shareholders.
It's constituted by a single member or “natural entity”, who will be the only associate and the director of the individual enterprise. By no means can a third party manage an individual company.
If you have Individual Company than certified copies of each of the following documents are required:
Proprietorship
An individual business, also known as a sole proprietorship, is a business structure owned and operated by a single person. The individual, known as the proprietor or sole proprietor, assumes complete responsibility for all aspects of the business, including its management, operations, profits, losses, and liabilities. The individual is both the owner and the operator of the business and retains full control over decision-making.
Individual businesses are commonly chosen by individuals starting small-scale enterprises, freelancers, and professionals operating as independent consultants or service providers. The simplicity, ease of setup, and minimal regulatory requirements make it an attractive option for individuals looking to establish and operate their businesses independently.
If you have Proprietorship company than Certified copies of each of the following documents thereof shall be obtained:
Business Registration Document (GST / MSME / Shops Establishment)
PayG Merchant Agreement
Other Documents - Based on LOB (Line of Business)
Partnership
A partnership firm in India is a legal business entity formed by two or more individuals who enter into a partnership agreement to carry on a business together. The partnership is governed by the Indian Partnership Act, of 1932.
Partnership firms are commonly chosen by small and medium-sized businesses, professional service providers, and individuals who wish to pool their resources, skills, and expertise to carry on a business together. It is a flexible and widely-used business structure that offers shared ownership and management while allowing partners to share profits and liabilities.
If you have Partnership company than certified copies of each of the following documents are required:
Business Registration Document (GST / MSME / Shops Establishment)
PayG Merchant Agreement
Other Documents - Based on LOB (Line of Business)
LLP
An LLP (Limited Liability Partnership) company is a partnership in which the partners have limited liability. It is governed by the Limited Liability Partnership Act, of 2008. Unlike a traditional partnership, where the partners have unlimited liability, an LLP offers the advantage of limited liability protection for its partners.
LLPs are commonly chosen by professionals, such as lawyers, accountants, consultants, and small to medium-sized businesses, who want the benefits of limited liability protection while enjoying the flexibility of a partnership structure. The LLP structure provides a suitable option for businesses that require multiple partners but want to limit personal liability.
If you have LLP company than Certified copies of each of the following documents thereof shall be obtained:
Business Registration Document (GST / MSME / Shops Establishment)
PayG Merchant Agreement
Other Documents - Based on LOB (Line of Business)
HUF
HUF (Hindu Undivided Family) is a legal and tax entity that comprises members of a Hindu family. It is governed by the Hindu Succession Act, of 1956, and the Income Tax Act, of 1961. HUF represents a joint family business structure where the family members pool their assets and collectively manage the affairs of the family.
HUFs are commonly established for the purpose of preserving family wealth, managing ancestral properties, and conducting joint family businesses. It provides a structure that allows the family members to collectively own and manage assets while enjoying certain tax benefits. It's important to note that the concept of HUF is specific to India and is governed by Hindu family laws.
If you have HUF company than certified copies of each of the following documents thereof shall be obtained:
Business Registration Document (GST / MSME / Shops Establishment)
PayG Merchant Agreement
Other Documents - Based on LOB (Line of Business)
Private Ltd
A private limited company is a legal entity formed by a group of individuals with a minimum of two members and a maximum of 200 members. It has a separate legal identity from its owners (shareholders) and is considered a separate legal person under the law. The liability of the shareholders is limited to the extent of their shareholdings, which means their personal assets are not at risk in case of any company liabilities or debts.
Private limited companies are commonly preferred for their flexibility, limited liability protection, credibility, and ease of raising funds. They are suitable for startups, SMEs, and businesses that intend to grow and expand while maintaining control and limited liability for the shareholders.
If you have Private Ltd. company than certified copies of each of the following documents are required:
Business Registration Document (Certificate of Incorporation)
PayG Merchant Agreement
Other Documents - Based on LOB (Line of Business)
Public Ltd
A public limited company is a business entity that is owned by shareholders and offers its shares to the general public. It is registered under the Companies Act, 2013, and has certain features and requirements that differentiate it from other types of companies.
Individual businesses are commonly chosen by individuals starting small-scale enterprises, freelancers, and professionals operating as independent consultants or service providers. The simplicity, ease of setup, and minimal regulatory requirements make it an attractive option for individuals looking to establish and operate their businesses independently.
If you have Public Ltd. company than Certified copies of each of the following documents thereof shall be obtained:
Business Registration Document (Certificate of Incorporation)
PayG Merchant Agreement
Other Documents - Based on LOB (Line of Business)
Trust
A trust company in India refers to an organization or entity that acts as a trustee for trusts established under Indian law. It serves as a fiduciary entity responsible for managing and safeguarding the assets of the trust in accordance with the trust deed and applicable laws.
Trust companies in India are commonly used for various purposes, including estate planning, asset protection, charitable activities, and managing family wealth. They provide a structured framework for the efficient management and distribution of assets while ensuring compliance with legal and regulatory requirements. The role of a trust company is crucial in upholding the interests of the beneficiaries and preserving the integrity of the trust.
If you have Trust company than certified copies of each of the following documents are required:
Business Registration Document (Certificate of Incorporation)
PayG Merchant Agreement
Other Documents - Based on LOB (Line of Business)
NGO
An NGO, or Non-Governmental Organization, is a legally registered entity that is formed by individuals or groups with a common purpose to address social, developmental, or humanitarian concerns. NGOs in India are primarily driven by a mission to serve the community and work towards the betterment of society.
NGOs play a significant role in addressing societal challenges, complementing the efforts of the government and contributing to social development. They serve as catalysts for change, working towards achieving sustainable development goals and improving the well-being of communities in India.
If you have NGO company than certified copies of each of the following documents are required:
Business Registration Document (Memorandum of Understanding / Certificate of registration (for registered trust only) & Copy of Trust deed or Society Deed / Government Certificate)
80G/ 12A Registration
PayG Merchant Agreement
Other Documents - Based on LOB (Line of Business)
Society
A society company in India, also known as a registered society or nonprofit society, is a legally recognized organization formed by a group of individuals who share a common goal or interest. The society is registered under the Societies Registration Act, 1860, and operates for the promotion of literature, science, art, education, charity, religion, or any other socially beneficial objective.
Society companies in India play a vital role in various fields, including education, culture, social welfare, and charitable activities. They provide a platform for like-minded individuals to come together and work towards the betterment of society, promoting knowledge, culture, and social development.
If you have Society company than Certified copies of each of the following documents thereof shall be obtained:
Business Registration Document (Memorandum of Understanding / Certificate of registration (for registered trust only) & Copy of Trust deed or Society Deed / Government Certificate)
80G/ 12A Registration
PayG Merchant Agreement
Other Documents - Based on LOB (Line of Business)
Banned Business Categories
Adult Products
Adult goods and services which include pornography and other sexually suggestive materials (including literature, imagery and other media); escort or prostitution services and massage parlors: Payment of potentially sexual related services.
Copyrights:
Copyright unlocking devices which include Mod chips or other devices designed to circumvent copyright protection
Copyrighted media which includes unauthorized copies of books, music, movies, and other licensed or protected materials
Copyrighted software which includes unauthorized copies of software, video games and other licensed or protected materials, including OEM or bundled software
Fake Certificate:
Government IDs or documents which include fake IDs, passports, diplomas, and noble titles.
Drugs:
Drugs and drug paraphernalia which include illegal drugs and drug accessories, including herbal drugs like salvia and magic mushrooms.
Unlawful Sale of Prescription Drugs: Online sale of prescription drugs to consumers by a pharmacy that is not, either;
certified by VIPPS® (Verified Internet Pharmacy Practice Sites) or
licensed by the board of pharmacy in the state in which it is located.
Drug test circumvention aids which include drug cleansing shakes, urine test additives, and related items
Prescription drugs or herbal drugs or any kind of online pharmacies which include drugs or other products requiring a prescription by a licensed medical practitioner.
Replica Products:
Counterfeit and unauthorized goods, which include replicas or imitations of designer goods; items without a celebrity endorsement that would normally require such an association; fake autographs, counterfeit stamps, and other potentially unauthorized goods.
Gambling:
Gaming/gambling which includes lottery tickets, sports bets, memberships/ enrolment in online gambling sites, and related content. Casino Gaming Chips, Off-Track Betting and Wagers at Race Tracks.
Sharp objects:
Weapons, which include firearms, ammunition, knives, brass knuckles, gun parts, and other armaments
Tobacco and Cigarettes:
Tobacco and cigarettes, which include cigarettes, cigars, chewing tobacco, and related products and Unlawful Sale of Tobacco: Online sale of tobacco products by a retailer that is not (1)Certified to pay state taxes, and/or (2)preventing sale of tobacco products to under-age consumers.
Live Plants/ Animals:
Endangered species which include plants, animals or other organisms (including product derivatives) in danger of extinction
Live animals or hides/skins/teeth, nails and other parts etc. of animals.
Currencies:
Wholesale currency which includes discounted currencies or currency exchanges
Merchant dealing in Crypto Currencies
Human Parts:
Body parts which include organs or other body parts
Online Trading:
Securities that include online trading of stocks and bonds etc.
Devices:
Cable descramblers and black boxes which include devices intended to obtain cable and satellite signals for free
Pyrotechnic devices and hazardous materials which include fireworks and related goods; toxic, flammable, and radioactive materials and substances
Traffic devices, which include radar detectors/jammers, license plate covers, traffic signal changers, and related products
Offensive goods:
Promote intolerance or hatred.
a. Defame or slander any person or groups of people based on race, ethnicity, national origin, religion, sex, or other factors
b. Encourage or incite violent acts
c. Promote intolerance or hatred
Offensive goods, crime which include crime scene photos or items, such as personal belongings, associated with criminals.
Alcohol:
which includes alcohol or alcoholic beverages such as beer, liquor, wine, or champagne.
Child pornography:
which includes pornographic materials involving minors
Hacking and cracking:
Materials which include manuals, how-to guides, information, or equipment enabling illegal access to software, servers, websites, or other protected property.
Illegal goods:
Which include materials, products, or information promoting illegal goods or enabling illegal acts
Miracle cures:
Which include unsubstantiated cures, remedies or other items marketed as quick health fixes
Medical Marijuana Dispensary:
Seller of marijuana used for medicinal purposes
Regulated goods:
Which include air bags; batteries containing mercury; Freon or similar substances/refrigerants; chemical/industrial solvents; government uniforms; car titles; license plates; police badges and law enforcement equipment; lock-picking devices; pesticides; postage meters; recalled items; slot machines; surveillance equipment; goods regulated by government or other agency specifications
Multi-level Pyramid Selling:
Multi-level marketing system which uses one or more of the following practices which may be considered deceptive:
a. Participants pay money for the right to receive compensation for recruiting new participants;
b. A participant is required to buy a specific quantity of products, other than at cost price for the purpose of advertising, before the participant is allowed to join the plan or advance within the plan;
c. Participants are knowingly sold commercially unreasonable quantities of the product or products (this practice is called inventory loading)
d. Participants are not allowed to return products on reasonable commercial terms
e. Other Payment Service Providers (except to the extent the entity itself sells goods to which it has title): payments services providers(PSP), Other merchant aggregators
Matrix sites:
Work-from-home/earn online.
Drop-shipped merchandise:
Bureau de Change Establishments:
Ability for card members to purchase Foreign Exchange currency
Cheque Cashing / Guarantee:
Card member (Merchant) can transact cheque for cash using American Express as a check guarantee card.
Condo (Real Estate) Down Payments:
Payments to other debt related real estate products
Unsolicited vendors with immediate payment expected.
Investment on futures maturity/value of goods:
Investment made on futures maturity of goods/Services with an intention of gaining return on investment. (E.g. stock market, wine future, horse breeding, or timber investment).
Leasing Merchants:
Payments to other debt related real estate products. Leasing Merchants (US)
Mortgage Payments:
Payments to other debt related real estate products, Mortgage Payments (US).
Political Parties:
Donations
Telecommunications Services:
Including wireless, cable, satellite, wire line, ISP, Calling Cards, Long Distance Phone/Card reader, Airplane Telephones, Cellular Products/Services.
Mobile point of sale:
Electronic point of sale terminal.
Unregulated Charities:
Merchant that does not have a Tax exemption or local council registration number.
Card member Activated Terminals:
Road Tolls, Car Parking Lots and Garages, Petrol Pumps, Cinema Kiosks, Railway Self-Service Ticketing.
Internet Auctions:
Any form of auctioning carried out on the Internet (excluding North America region).
Internet Electronic Delivery:
Merchants (including E-tickets that are redeemable in person) and Internet Electronic Services.
Night Club:
Related (e.g. Night Club Hostess, Night Club Lounges, Disco, or Gentlemen's Club).
Premium Rate Telephone Services:
all 1-900 lines.
Timeshares:
The selling of part ownership of a property for use as a holiday home, whereby a card member can buy the right to use the property for the same fixed period annually.
PC support services:
Providing diagnostic, troubleshooting, maintenance and repair services to a computer or similar device.
Franchisee Services:
A party (franchisee) acquired to allow them to have access to a business's (the franchiser) proprietary knowledge, processes, and trademarks in order to allow the party to sell a product or provide a service under the business's name.
Any product or service:
Which is not in compliance with all applicable laws and regulations whether federal, state, local or international including the laws of India.
Mixed Businesses:
If any Merchant is found to be availing PayG’s service for the above mentioned business types without PayGs' written approval then the Merchant will be subject to appropriate proceedings and, services of Infibeam Avenues to Merchant will be terminated on immediate basis.
* PayG reserves all rights to approve or disapprove any merchant at its sole discretion.
Registered Company Name as per the submitted business KYC must be mentioned