Payments onboarding & provisioning
An essential aspect of your application architecture is determining who will manage the flow of funds: your organization or its customers. This decision will influence how the customer onboarding process is structured.
Payment accounts
If your application requires payment accounts, it's important to identify the account holder, as they will own the funds. Banqup supports corporate accounts held by legal entities.
If your application involves individual account holders, please contact your Banqup partner manager.
Additionally, the appropriate IBAN range will need to be configured. Banqup currently supports accounts in the following 12 countries: BE, FR, NL, LU, LT, LV, DE, EE, IT, PT, ES, and SK.
Collection services
The proceeds from online payments (such as Mastercard/VISA transactions) will be disbursed at regular intervals. It’s important to determine who will receive these collected funds: whether it will be your platform or the corporate customers of your platform.
Regardless, the organization receiving the funds must be an onboarded legal entity.
Open Banking/PIS (Payment Initiation Services)
Open Banking can be used to initiate payments from an organization’s payment accounts or to receive credit transfers. In both cases, the organization must complete the online customer onboarding process.
How to integrate payments customer onboarding?
If your organization needs to be onboarded, you can complete the process through the Developer Portal. Activating payment services will initiate the online KYC (Know Your Customer) process, guiding you through the necessary steps.
If you intend to integrate financial services for your application users, they will also need to go through a similar KYC process.