Documentation required for obtaining a payment gateway merchant account service.

In preparation for signing up to a payment gateway provided merchant account service, it's beneficial to know what you will need to do when applying for an account. Whilst these questions may seem extreme, like any financial institution providing merchant facilities, payment gateways are subject to Austrac's Know Your Customer (KYC) and Anti Money Laundering/Counter-Terrorism Financing (AML/CTF) requirements. 

The information below is what will be asked for:

Depending on your structure, most likely Incorporation.

	Sole Trader	Pty Ltd	Trust	Partnership	Incorporation
Individuals who require verification	Owner	All Directors; and All Shareholders, with more than 25% share ownership of the applying entity.	All Trustees	All Partners	All members of the executive committee. Generally: President / Chair, Secretary, Treasurer.
Proof of Business Bank Account	Recent Bank statement in the name of the Sole Trader applying for the service.	Recent Bank statement in the name of the entity applying for the service.	Recent Bank statement in the name of the Corporate Trustee applying for the service.	Recent Bank statement in the name of the Partnership applying for the service.	Recent Bank statement in the name of the entity applying for the service.
Additional Documents (where applicable)	N/A	N/A	Signed Trust Deed to confirm Trustees.	Signed Partnership Deed	Signed AGM minutes to confirm executive committee members.

Verification Options:

Two methods for individuals to verify their identity and residential address details are provided.

1. Electronic ID Verification

Within the online application forms, individuals can electronically verify their details against secure third party databases. Once an individual’s details have been successfully electronically verified, they do not need to provide any identification documents.

2. Certified Copies of Documents

Provide recently certified copies of identification and proof of residential address.

For more information regarding what documents can be accepted, or how to get documents certified, please visit: this link

Application Questions

The gateway will typically ask the following questions in the online application

1. First & Last Name

2. Email Address

3. Phone Number

4. Industry Type

5. Business Website

6. Description of the Items Being Sold

7. Average Order Size

8. Average Days Paid in Advance (time from payment to delivery to the customer)

9. Your Bank Account Details

Website Requirements

Before accepting any electronic commerce transactions over the internet, the payment gateway will tell you that you must establish a website that clearly displays the following information, this is despite the payments being processed through MemNet rather than your website.:

Requirement	More Information
Delivery Policy	Include a link in the footer which consumers can click on. If a product, it needs to state delivery timeframes. If a digital product/service, it needs to state how the delivery will be made.
Refund Policy	Include a link in the footer which consumers can click on.
Privacy Policy	Include a link in the footer which consumers can click on.
ABN	Display the applicant's ABN in the footer of the website or during the checkout process.
Description of Product/Service	An outline of what each of the products or services are being sold, including price and a picture.
Checkout Page	A live or test website that includes a checkout page.
SSL Certificate	The checkout page must be encrypted with an SSL certificate (Secure Socket Layer).
Contact Details	Include a link, or contact us page. This information must include: A telephone number, and an email address or a web form. (any telephone numbers must include international dialling prefix).AND An address. Either a physical address or a PO Box. (any address must include Australia as the country of domicile).

Credit Card Chargebacks

When accepting online payments, there may be cases of credit card chargeback, where a cardholder disputes the transaction with their bank requesting their money back. For more information on credit card chargebacks please click here.