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 the Supplier
Follow the below steps if the KYC documents are supposed to be uploaded by the Supplier.
When the supplier added the supplier receives an activation email. The supplier is expected to follow the instructions in the activation email to activate their account on PayMate.
On first time login by the supplier, the supplier will be presented with the PayMate terms of use which the supplier has to accept. The supplier then sees the invitation from the Business to connect on PayMate. The supplier is expected to accept that invitation to move forward.
After the supplier has accepted the invitation, on the Dashboard, under Quick Task, the supplier will see the task to upload the KYC documents.
On clicking on the link under Quick Task the supplier will be taken to the Document Upload page.
Select the Type of Company, Category & Sub-Category of the company and click on Submit. On the next page, the supplier will be presented with the list of different types of KYC documents the supplier has to upload.
The type of KYC documents to be uploaded depends on the Type of Company selected by the supplier.
Once all the KYC documents are uploaded by the supplier, 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.