PayG - India's Number One Payment Gateway

Payment Gateway Onboarding Process: Step by Step

In India, payment gateways are slowly becoming popular, and many mid-sized to large businesses have already opted for these. Merchants who are reluctant to use a payment gateway prefer to stay away from these solutions due to their cost and long onboarding process. Some merchants believe that a payment gateway is a luxury; hence, it is unsuitable for small business owners.

Currently, many companies offer cost-effective payment gateway solutions to encourage both small ,medium and large businesses. They also educate the merchants through blogs, vlogs, social media, etc., to convince them that payment gateways are not a luxury; instead, these are necessities for companies of all sizes. Now let’s clear up the confusion of onboarding process of payment gateway.

How Does PayG Payment Gateway Onboarding Process Look Like?

The onboarding process of PayG payment gateway is simple and transparent. Merchants need to go through some steps exactly the way they go to a bank, fill out a form, and submit a few documents to get a bank account. Just like it takes time to verify the documents to create the bank account, an onboarding team of payment gateway will take some time to approve the documents before you start your journey.

Firstly, a merchant can express interest in PayG by sending an email to sales@payg.in. Alternatively, you can contact a reseller.

Team PayG then assigns a salesperson to explain the onboarding process and share an online form with the merchant. Here are some steps to follow to onboard your business with PayG:

Step 1. Registration

Here, the merchant has to select the account type they require. Following are the account types:

Professional
Business
Government entity

Basically, the person needs to pick the purpose for which they need the payment gateway. Once the merchant selects the account type, he/she has to enter the PAN/GST details, business details, business owner details, and a short business description.

Step 2: Payment Purpose

In this step, the merchant specifies the purpose for which they need the payment gateway. For example, it can be used for fee collection, invoice generation, etc.

Step 3: Bank Details

Here, the merchant has to enter correct bank details like a/c no., a/c holder name, IFSC, bank name, branch, etc. These details are very crucial – so be careful when entering all these details.

Step 4: Business Overview

At this step, PayG asks for some more details about the business to have a detailed understanding of it. Here, the merchant has to provide the following:

Business category and sub-category
Yearly turn-over
Average ticket volume
Website
App
Social media links

Step 5: Document verification

As the merchant has entered all the details, the last thing to do is upload the documents supporting the details entered in the previous steps and wait for their verification.

Following documents are needed to complete the onboarding process of PayG Payment Gateway:

MOA
AOA
Incorporation
NOC
PAN
Aadhaar
Passport
Government ID
Utility bill
Lease agreement
Statement
Canceled cheque

PayG onboarding team will quickly check the due diligence, so that you can start receiving payments. For further help with website prerequisites, the business categories and their documents for each category, and banned business categories, please check PayG onboarding policies.

Step 6: Agreement e-Sign and Onboarding Completion in PayG Payment Gateway

Once the verification is completed, PayG and the merchant will enter into an agreement, which requires the e-sign of both parties.

After completing all these steps, PayG activates a merchant ID. There will be regular checks, risk categorization, and re-KYC to provide a secure payment environment for merchants.