Fast Onboarding Agreement
Last Update: September 8 , 2022
- Know Your Customer (“KYC”): it is an obligation for Payment providers to collect and maintain information on all account holders. These requirements come from the financial regulators and are intended to prevent abuse of the financial system.
- Fast Onboarding Program (“FOB”): the collaboration mechanism adopted by Payment provider, Shoplazza and you to optimize the register and approval procedure, whereby the KYC information is submitted via an online form, and the Payment providers commit to complete the screening procedure within 7 days upon the submission.
You can use Fast Onboarding to submit the KYC information required by payment service providers (such as Payoneer) in one batch. The payment service provider you choose will complete the KYC screening procedure within 7 days upon submission of such information. If the payment service provider you choose determines at its sole discretion that you are eligible, you will receive a notice and enter into an agreement with payment service providers.
In order to use this service, you must:
- grant permission for us to transmit the KYC information and disclose certain risk assessment information about your Shoplazza account to the third party payment service provider;
- warrant that the KYC information you submit, such as email address, phone number, business ID, tax ID and others, are complete and accurate.
You may at any time suspend or terminate your use of the Fast Onboarding service by sending an email to [email protected].