Summary

The Hosted Onboarding application is built and maintained by Stripe which means it is not customizable like our Custom Onboarding application. This method is used by our Brands who integrated with Stripe before our Adyen PayFac was available. This article goes through the differences between our two onboarding methods.

Below are some of the benefits of the custom onboarding that we have with Adyen over the hosted onboarding we have with Stripe.

• Adyen gives total customization and ability to be agile. Stripe’s cannot be customized or altered.
• Adyen allows us to control how much information is captured. Stripe collects the bare minimum information, then later requires additional information that can be disruptive when it interrupts sales/payouts.
• Adyen allows us to customize the application to collect the amount of information needed based on region, industry, etc. Stripe doesn’t let us customize fields as a result they can’t accept things like EBT. Where the custom can integrate the application based on industries that use that to add a field to collect it.

Processor

Availability

Initial Account Setup

The initial account setup is done by the onboarding team once the account has been won and determined that a Stripe account is the best fit for the merchant. Each of the listed brands above have their own domain to compete this initial setup, and the sending of the Welcome email to begin the merchants application process.

Approval Process

The Stripe Hosted site collects Know-Your-Customer (KYC) information through their hosted onboarding application. It then securely passes a small portion of that information to the Payfac for us to be able to service the account. Stripe needs to verify three things to fully approve an account: the company, the owner/business representative. These are approved individually, if verification fails for any reason the status is updated on the application and an email will be automatically sent to all contacts under the Manage Users page with the ‘Administrator’ role. This email will let the contact know what status their application is in, what the issue is, and how to correct the issue.

The final email that is sent once the application has been finished is an approval or denial message. If they are approved, they will receive a link and instructions on logging into the portal and begin setting up their account for use, if they are denied, the email will contain additional information on why they were denied.

Documents and Information Needed

Bellow is a list of documents and information that will be needed to fill in all information needed on this application: Application will take approximately 15 minutes to complete if all information is available at hand.

Encourage the merchant to validate all information that has been input in the application before uploading documentation. When documents are uploaded it increases the verification time needed to manually verify documents.

• IRS Business documentation (147C or SS-4 Confirmation letters. Not required on sole prop)