As per regulatory requirements, PayMate needs to do a full KYC verification of a supplier added by any Business on PayMate before the Business can start making payments to that supplier.
The KYC documents can be uploaded on the PayMate platform either by the Supplier or the Business.
By Business
Follow the below steps if the KYC documents are to be uploaded by the Business
Only the Maker or the Approver user of the Contact Management user department can upload supplier KYC documents. Go to Contacts - Manage Contacts to start the upload process.
Find the supplier for whom the KYC documents need to be uploaded. Under the Action column, click on the file upload icon to start the KYC document upload process.
Select the Type of Company, Category & Sub-Category of the company and click on Submit.
On the next page, you will be presented with the list of KYC documents that are supposed to be uploaded. The list of the KYC documents depends on the Type of Company selected in the previous step.
Once all the KYC documents are uploaded, PayMate will carry out the KYC verification of the documents. As all the KYC documents get verified successfully the supplier will be active on PayMate to receive payments from the Business.