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PaymentNepal Registration Procedure

May 29, 2022

PaymentNepal Registration Procedure

Registration Procedure

For registration in PaymentNepal,  Prospective Merchants should be justified through KYC and Due Diligence during Merchant Onboarding.

Eligibility Criteria for Merchant:

  • Firm/Company must be registered with the authorized entity of the Government of Nepal or in a Local Body.

  • Firm/Company must be in service

  • VAT/PAN

  • Firm/ Company / Owner/ Shareholders/ should not be listed in any Sanction / Negative List

  • Non-Blacklist document should be provided by the Merchant to PaymentNepal.

  • Tax Clearance Certificate

  • Latest Audit Report

  • Airticle of Association/ Memorandum of Association

  • Turnover of Firm/ Company

  • Key Manager person details

Firm/ Company authorization person details of:

  • Chief Business Officer

  • Chief Finance Officer 

  • Managing Director

  • Chief Excecutive Officer

 

1. Merchant Application

If any Merchant is interested to use Payment Nepal, they should register online and submit the Merchant Establishment Application form. The merchant Management Team will perform the following activities:

 

2.  Verification by Merchant Management Team

Merchant Management Team will visit the site of operations of the applicant and with physical verification of submitted documents for the following:

  • The office/outlet(s) must virtually or physically exist. (whenever necessary)

  • Whether the platform is consistent with the type of stated business on the application of the merchant.

  • Whether or not involved in dealing with illegal goods and services.

  • Upon proper evaluation of the Merchant from a business perspective, it shall be forwarded to the Operation Team.

If all the above-mentioned criteria are met, the registration process would move to the next phase.

 

3. Verification  by Operation Team:

The operation team will conduct an inspection of the website standard. Technical specification of Merchant shall be as follows:

  • The website or application needs to be capable of accepting electronic payment.

  • SSL certificate (Secure Sockets Layer Certificate) is mandatory for the merchant website.

  • Operation team will also analyze the risk associated with the Merchant and properly attest to the documents submitted by Merchant.

  • Due Analysis of the merchant’s business done by the Merchant Management Team will be done. If satisfactory, Merchant Management Team forwards it for approval to the approving authority after proper review and evaluation.

 

4. Agreement Signing:

Upon receipt of evaluation from the Business Team and Operation team, the documentation will be forwarded to GPS Management Head. On final approval,  the merchant will be called for agreement signing with communication of rates.

 

5. Merchant Onboarding:

After the agreement signing the merchant will be providing with integration documents along with login credentials of the PaymentNepal portal.