When signing up, we ask you to fill out some basic questions about your business.
This allows you to set up your account with business details incorporated in your paperwork that can be emailed to your customers (e.g. Quote and Invoice header will automatically have your business name and address). This also is input into our KYC (Know Your Customer) compliance policies to protect against fraudulent users.
Your Business inputs
Business Name: This is your company name that you are currently trading under.
Address: This is the company address, to which all business correspondence is directed. This will be automatically populated with your home address as may be the case for many sole traders so please edit it to your business premises if this is not the case.
Business Type: This is the type of company whether Sole Trader/ Individual; Limited Company; Non-Profit (i.e. for charities) and Partnership/LLP.
Industry: This is your industry type, listed alphabetically, which can be selected. If you type in your company industry, then you should find the relevant category. If your specific industry is not included in the drop down list then please select "Other Goods" or "Other Services".
This will allow us to know our customer, for compliance reasons. In order to protect consumers, we need to make sure our customers are legitimate and that their business does what it claims.
First and foremost, when you sign up to SmartTrade App as a merchant, we will do a quick check on you and the business in the background called KYC (Know Your Customer). This process is standard across the industry and just means we need to verify you are who you say you are.
Second, there are certain services which we don't allow. Examples are gambling services and gun sales. For full list of acceptable services please review the Wirecard Terms and Conditions upon sign up.
Lastly, we have to make sure no one signs up to SmartTrade App posing as a business which either doesn't exist, or which they are not a representative of and tries to take illegitimate payments on behalf of from unknowing consumers. We also want to make sure no illegitimate merchant can use SmartTrade App to accept payments using stolen debit- or credit cards, or process any other type of fraudulent payments.