Custom Onboarding is unique to Adyen, this gives us the freedom to set up the onboarding process and the data that we gather during the process to best meet the requirements of the brands we have.
This article provides detailed instructions for custom onboarding with Adyen for different types of business entities, including corporations, non-profits, and sole proprietorships. It outlines the steps for filling out business and representative information, setting up bank accounts using Plaid or manual methods, and reviewing the completed application. Key benefits of Adyen over Stripe include greater customization, control over information capture, and the ability to tailor the application process to specific needs.
Below are some of the benefits of the custom onboarding that we have with Adyen over the hosted onboarding we have with Stripe.
Available to all brands, no additional development is needed.
| Processor | Available |
|---|---|
| Adyen | ✅ |
| Stripe | ❌ |
The PayFac collects Know-Your-Customer (KYC) information through our custom onboarding application. It then securely passes that data to Adyen who then help us validate the information we collected. With our own verification tools in addition to Adyen’s KYC checks, we’re able to safely and securely onboard merchants onto our platform and ensure we are compliant with the latest compliance regulations.
Adyen needs to verify three things to fully approve an account: the company, the owner/business representative, and the bank account. The Onboarding application summary page breaks these areas into three sections for convenience and understanding. Each of these sections are approved individually, if verification fails for any reason the status is updated in the portal and an email will be automatically sent to any contacts with the ‘Administrator’ role in the Manage Users page of the portal about the issue and where to go to correct it.
Below is a list of the information merchants should come prepared with to fill out the application. Most merchants won’t need to upload any additional files or documentation however, if any is needed, the recommended documents are listed below: 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.